A key statistic in residential real estate is the turnover rate. In a neighborhood of 100 homes, how many are likely to sell in the next year?
We’ve just done the research for both Larimer and Weld County. The turnover rate for both of these locations is roughly 8.5%.
In Larimer County there are approximately 80,000 owner occupied households and in the last year there have been approximately 7,000 sales of those homes. In Weld County the numbers are 67,000 households and 5,500 sales.
So, in that hypothetical Northern Colorado neighborhood of 100 homes, 8 to 9 of them will sell in the next year.
A couple interesting points about this turnover rate…
- It has dropped from a few years ago when it was closer to 10% which means that people in Northern Colorado are staying in their homes a bit longer
- It is slightly lower than the national average of 10% according to the National Association of Realtors
Save the date for our live Market Forecast event on January 18th at the Marriott in Fort Collins. Back by popular demand is Windermere’s Cheif Economist Matthew Gardner who will give you valuable and interesting insights into the real estate market. Reserve your spot at www.windermereforecast.com