It goes without saying that plenty of things have changed or have at least been affected in the interim thanks to the COVID-19 pandemic. Real estate has been no exception, with the health risk and the associated stay-at-home orders putting a halt to the plans of many to invest in homes for sale in Longmont, CO.
Fast forward to the second quarter of 2021, and COVID-19 vaccines are now part of the picture. To date, over 2.4 million people in the state of Colorado have been vaccinated with at least one dose and, if things go as planned, we can all finally look forward to what’s ahead for Longmont real estate in 2021.
Longmont will continue to be worth moving to
Many places, especially out-of-state, continue to see residents leave due to increasing home prices or the discovery of the flexibility that comes with remote work. Longmont has been the opposite, as its being an ‘exhurb’–a suburb relatively accessible to a larger city (in this case, Boulder, CO)–continues to draw in more movers.
Spanning 22 square miles and featuring many scenic views that include 1,500 acres of parks, Longmont has become one of the top choices for many now-remote workers who prefer a laid-back community that is still within a good distance from a significant metropolis.
Longmont homes will continue to appreciate
Real estate in the state of Colorado has historically continued to appreciate. Even at the height of the COVID-19 pandemic in 2020, home values in Longmont and most Colorado communities remained on the rise, appreciating by as much as almost five percent last year.
As of March of this year, Longmont home prices have been up 8.7% so far, and have sold for a median price of $477,000. We at the Noel & Martinez Team have also observed that, on average, homes in Longmont sell after 20 days on the market, as opposed to 38 days in 2020.
Longmont will be a seller’s market in 2021
As a result of the continued increase of home prices, 2021 likely isn’t the year to look at Longmont as a buyer’s market. However, if you have a property in the municipality or have been thinking of buying a place in the area to sell sooner rather than later—and for a profit—Longmont is projected to be a hot seller’s market for the next several months.
Apart from homes in the area enjoying continued increases in price and being sold in a shorter number of days this year compared to last year, Longmont has also seen its hottest properties get sold at about 6% more than their listed price.
Navigate Longmont real estate successfully
The Longmont property market, as it’s been in recent years, continues to teem with potential. If you are looking to move to this part of Colorado or aiming to sell your existing Longmont home, it is good to be able to work with professionals who have expertise in the area and can help you get the most of your property transaction.
That is where we, the Noel and Martinez Team come in. We have over 60 years of combined experience working in the Longmont, CO property market. Contact us for all your real estate needs.
