I have been trying to find existing home sales statistics for Larimer County, Colorado for hours with no success. Has anyone been able to locate these statistics online? I have no problem finding total home sales but I am specifically looking for existing sales information, not including new construction sales.
What kind of statistics are you looking for? @James Orr has amazing stastics and Northern Colorado Real Estate Investment Group (NCREIG) is a fantastic place to talk thru ideas and deals! It’s the best investment group Ive ever been a part of! Successful Investing,
@Brian Armstrong , I am looking for existing-home sales statistics. I guess that might be ambiguous, so I am specifically looking for a monthly total of how many homes were sold that existed before the sale of those homes. ie NOT new construction. I am looking for this specific statistic, month-to-month, dating back as many years as I can find.
Thanks @Brian Armstrong @Marshall Easlick ... I do not have a chart already made for that stat, but I've done other charts that show the difference in price per sq ft of new construction versus 1 year old properties versus older resale properties so I am sure it can be done. Your real estate agent could also go and pull properties from the MLS that are not new construction or not built in the year they're sold to get you this data as well. Just some mnaual labor. I'd guess a couple hours of searches and writing down results in a spreadsheet. Hope that helps.
Thanks, @James Orr . I am not afraid of a little footwork but I would rather utilize an established organization's resources and get a broader scope of data than what I could do on my own.
@Marshall Easlick this is a link for Land Title's stats on Larimer and Weld County. I would say this, in our area the new home sales are way under represented in the MLS stats since the builder will only list each model. In some cases they report closed sales but the new vs existing is a small percentage. I can't really see how taking that small piece of the pie out would make a difference. There are some folks that dig into the data like that. You just have to hunt around to the local agents to find one that tracks that kind of data. You might be able to call the local MLS and they might know who tracks that kind of data as well.
@Bill S. , thanks for your insight because those are a couple of things that I hadn't thought about. I am not one of the folks who like to dig into data like that, I just have a formula that requires certain types of data and I was trying to find the exact pieces of the puzzle to plug into it. I guess it was important to find that data because another piece of datum for the formula is new home construction permits.
Based on how much new construction I see, I would never have guessed that new construction sales are a small percentage of the overall real estate sales in our area. I've sent an email to my real estate agent's office but I doubt I will hear back from them on this.
Thanks again, Bill. It's always appreciated.
@Marshall Easlick the best way to track new homes is to track building permits. While it's not a direct correlation as there is some lag between the permit and the buyer moving in, that is the data used. I'm sure someone tracks building permits in Larimer County. You have the county and the municipalities within the county so I'm sure there is an entity that is aggregating that data. I'm pretty sure the state does it on a state wide level. Do some calling and use google. The other thing to keep in mind is that you probably want to separate building permits for SFR out from the total. Apartments impact the market but in a different way so you want to make sure you get the whole picture
@Bill S. , that's exactly what I was trying to do yesterday. I found that the county tracks and reports on residential building permits but their summary combines all residential permits (new construction, remodels, and additions) and I will have to inspect each permit separately to see the price tag on each one and determine if it is for a whole house or for addition/remodel. Also, I encountered the distinction between SFRs and apartments/condos and I am glad you mentioned that they impact the markets differently. I figured as much but it is good to have validation to know I am on the right path.
I think the fact of the matter is that I can't be so picky with my data because the agencies that are tracking/reporting it do a good job but their reporting methods don't fit my model. I also found a lot of good data reported from Zillow, NAR, and two others but, again, they don't fit my model exactly.
@Bill S. , these links have EXACTLY what I need! Wow! Thank you so much for your help!
So, here is the story: I read a book called Timing the Real Estate Market and the author gives a mathematical approach to timing the market that uses 5 metrics and moving twelve month averages to keep track of what the trends are. I am trying to compile all of this data so I can keep track of the trend and possibly use it for some capital gains in the future.
The 5 metrics are:
new home building permits
mortgage loan defaults
This is the first time I have really dug into data scouting and I think it will be a useful skill set, once developed, because I am looking at getting into note investing in the next 6 months and using the cashflow from those assets to accelerate my SFR buy and hold strategy. Although the due diligence for notes requires different data, it's good to know the different levels of reporting (federal, state, county, city).
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