Windsor/Severance real estate market boasts strong year in 2013
April 11, 2014
Windsor and Severance's real estate market had a strong year in 2013, boasting a historic high in the number of detached residential home sales.
"Overall, the Windsor/Severance market continues to remain strong," Sears Real Estate CEO Chalice Springfield said. Springfield presented the real estate data in a presentation to the Greeley Redeye Rotary meeting Tuesday.
She said Windsor's median home price fluctuated throughout 2013 but continued to gain strength from the beginning of the year until the end.
For example, Springfield said the median sales price for residential homes at the beginning of 2013 was $254,750 for the Windsor/Severance detached home market. Over the course of the year, the median sales price climbed 14.8 percent to $292,500 by the end of 2013.
The median sales prices in the Windsor/Severance area last year came in higher than the area's neighbors, Springfield said. The Greeley/Evans median sales price for 2013 was about $170,000, while Loveland's was $228,000 and Fort Collins was $265,000. She said the data only accounts for home sales within a city or town's limits and doesn't include sales outside the area's boundaries.
"Real estate is a supply and demand business — when buyers want to purchase in Windsor/Severance, and there are fewer homes on the market, this can push prices up and help with the median home price remaining high," Springfield said.
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In term of detached home sales in the Windsor area, 2013 saw a historic high of 787 residential units sold, up from 706 in 2012 and 526 in 2011. New construction sales in the Windsor area totaled 155 in 2013, down from 164 in 2012 and from 226 at its highest point in 2005.
"I think it certainly points to the growth, development and expansion of the community across the board," Springfield said. "As the demand for housing continues to be strong in Windsor, new construction and development will be sustainable."
As of April 2 of this year, Springfield said data from Information and Real Estate Systems showed there were a total of 277 homes on the market, of which 104 were new construction. However, she said only 171 of the listings and 68 new construction listings were fully available without a first contract already pending on them.
Other statistics Springfield highlighted include Weld County being named the 10th best county in the nation for increases in employment. Between March 2012 and March 2013, the county saw a 4.4 percent increase in employment, with more than 5,350 new jobs added between 2009 and 2012.