New Home Prices

Homebuilder Headaches

by Brandon Bidwell

The National Association of Home Builders recently surveyed their members to ask them about the challenges they currently face and the challenges they expect to face.

Far and away, the biggest headache for homebuilders right now is the rising cost of building materials.

96% of the survey respondents cited this as a significant problem they faced in 2020 and 89% believe it will be a significant problem this year.

It turns out that builders are not only concerned about building material costs, but also the availability of those materials.

78% said availability was a significant problem last year and 80% said that it will be a significant problem in 2021.

Due to increasing materials costs, we notice builders locally having to raise their base prices significantly in order to keep up with rising costs.

Colorado’s New Home Value by County

by Brandon Bidwell

Metrostudy, who in our opinion is the leader in new home research, recently did a study on the average price of a new home in each of the Front Range Counties.

Here are some interesting takeaways…

If you want to find the least expensive new home on the Front Range, the places to look are Weld County and El Paso County.

· Weld County Average New Home Price = $411,269

· El Paso County Average New Home Price = $427,361

The most expensive place for a new home is in Boulder County (no surprise) at $698,208.

Jefferson County has the largest difference between the average price of a new home and the average price of a resale home: $664,600 vs. $510,003.

Here’s the County by County breakdown of the average price of a new single-family home:

· Boulder = $698,208

· Jefferson = $664,600

· Douglas = $624,315

· Broomfield = $612,779

· Denver = $581,480

· Arapahoe = $545,943

· Larimer = $507,105

· Adams = $480,464

· El Paso = $427,361

· Weld = $411,269

If you have questions about real estate in Northern Colorado I’m here to help!