Happy Fall, fellow real estate enthusiasts! Here at the Brandon and Lana team, we have been celebrating with Halloween decoration viewing on our way to showing our clients some great homes that are on the market right now! Speaking of great homes on the market, we only have more great things to look forward to.
Colorado Home Value Increase Predictions for 2023
Property value forecasts for the coming years have been tumultuous at best in recent months. One platform that this rocky venture has been showcased is the real estate mogul, Zillow, where annual growth in the real estate market was predicted to be 17.8% by February 2023. Since that forecast announced in February 2022, that golden number has dropped and risen several times. Even down to a comparatively measly 7.8% in July 2022, and further to a 1.2% in September 2022.
However, now Zillow is reporting a 1.4% year-over-year growth of home values by the end of September 2023 on a national scale. That being said, this number varies drastically from market to market. For instance, some metro areas such as Nashville and Spokane are expected to see growth of about 5% during that same time frame, other less desirable areas are expected to see home value decline.
When it comes to Colorado, homeowners can reasonably expect their home value to increase by the end of September 2023. According to Zillow’s home value increase report, homes in Denver, Fort Collins, Sterling, and Steamboat Springs are expected to see at least a 1% home value increase. Homes in Breckinridge and Pueblo are expected to see anywhere from a 4%-6% increase in 2023. Colorado Springs, Grand Junction, and Duragno will likely see a 2%-3% increase in home value in 2023.
Don’t let the news scare you this Halloween with their frightening headlines about the real estate market! We will be here for you in a flash with expert knowledge in the real estate market for all of your buying needs, sellings needs, or just plain curiosity! Don’t hesitate to reach out to us at the Brandon and Lana Team! Happy Halloween! Contact us!
