2019 Review of Longmont Real Estate
In Longmont, Colorado in 2019 there was a total of 1467 sold properties. This includes both single-family and multi-family attached homes (Townhomes and Condos). This is an increase of 5.5% for single-family and 10.1% for attached properties from 2018. The average days on the market was 50 days.
Longmont is still the least expensive place to live in all of Boulder County, but with an average price of $470,107 (single-family) and $345,015 for attached properties in 2019, we are twice as expensive as the average home in the United States! We all understand that we live in Boulder County where we'll see fewer and fewer new homes built in the area. This limits supply and drives up prices. Take a look at how prices have increased over the last 5 years in Longmont.
In 2015 by 16.0%
In 2016 by 12.4%
In 2017 by 10.6%
In 2018 by 9.5%
and in 2019 by 1.8%.
I have to confess, I'm positively excited about our leveling of prices. Those continuous steep rises would effectively push the American Dream of owning a home that much further out of reach for young buyers. This is the first time in years where the median wage increase outpaced the increase in the price of housing. Combined with currently low interest rates, real house prices are lower than they were in 2000.
This is a plateau market. An opportunity market. And what an opportunity to live the Top Boomtown city in the US.
Here is the article:
‘Longmont Is Awesome’: Front Range City Tops Boomtowns In America
Longmont, Greeley, and Denver placed in the Top 10 on the list compiled by SmartAsset. Longmont was named the fastest-growing city in the country overall. Greeley was fifth and Denver was seventh.
We shall continue to explore Longmont Real Estate news and trend, Music and Art, Art and Culture and Local Events in future Blog installments.
“Insight Beyond Measure”
