GROWTH GAUGE: WELD COUNTY RISING
It’s become safe to predict that Northern Colorado — a region that spans Larimer and Weld counties – will keep growing. Less certain is where that growth may be unfolding from year to year.
At the onset of 2025, it’s apparent that the focal point of that population and economic expansion has shifted into Weld County.
Speaking at The Group Inc. Real Estate Forecast, The Group President, Brandon Wells, highlighted a series of trends to show how Weld County — and more specifically a dynamic corner of west-central Weld — is gaining steam and stature.
Notable developments include:
Population. Weld will soon be the most populous county in the region, possibly as soon as this year. In 2024, Weld’s population grew by 2.55 percent, reaching 368,618. By comparison, Larimer grew 0.86 percent to 373,965. If last year’s growth rates hold to form in 2025, Weld will reach 378,018, compared to Larimer’s 377,181.
Income. Median household income in Weld reached $93,287 last year, compared to $91,364 in Larimer, according to U.S. Census estimates. Nationally, the median household income is $78,538.
Employment. The Greeley Metropolitan Statistical Area (MSA), which covers Weld County, registered 1.6 percent growth in non-farm employment for the 12 months between November 2023 and November 2024 – leading all metro areas in Colorado. The Fort Collins MSA, or Larimer County, grew by 1.3 percent.
New construction. The region’s hottest spot for new commercial and residential projects is east of I-25, particularly along a seven-mile stretch between U.S. Highway 34 on the north and Colorado Highway 56 on the south.
Active and future construction sites include a retail center on the east side of I-25, across from the Buc-ee’s store, which will be anchored by an 85,000-square-foot Woods Supermarket. Near the Larimer-Weld border is The Ridge – a 266-acre development – east of the Colorado Highway 402 exit. With 900 homes and multiple commercial buildings, The Ridge sets the stage for an eastward surge of activity into Weld County. Also, the 18-hole Bella Ridge Golf Club is taking shape east of I-25 near the Highway 56 exit, with long-term plans for adjacent housing and commercial development.
Responding to these trends, and anticipating even more developments in Weld County in the near future, The Group Real Estate will open a new office later this spring in Greeley.
Call us to discuss the latest growth in Northern Colorado and what it could mean for you.
WHY THE MARKET IS MORE THAN MEETS THE EYE
To a casual observer of Northern Colorado’s housing market, it might seem unlikely to hear that local real estate activity remains vibrant. That’s due in part to influences that keep housing affordable and in demand for many.
The natural question would be, “How is real estate attracting buyers if median home prices are rising and interest rates are above pre-pandemic levels?”
Overall, today’s homebuyers look different than those from the recent past. The median age for first-time buyers last year was 38 – up from 31 just 10 years ago, and the highest on record. Combine that fact with the knowledge that millennials (ages 25-43) make up the largest segment of the adult population in Colorado, and it speaks to pent-up demand in our region.
“What about affordability?”
As the age profile of new buyers is changing, so are the factors for affordability.
We suggest asking three questions of yourself to help you decide if you are financially ready to enter the housing market.
1. “What do you earn?” Assess your household income. If you’re a potential buyer in your later 30s, you’re likely to be in a much stronger earning position than you would have been when you turned 30.
2. “What do you have?” Consider your assets. Chances are you have accumulated some non-real estate investments that can strengthen your position as a borrower.
3. “Who do you know?” You may have relatives who are able to help with your purchase. In growing numbers, first-time buyers and repeat buyers are receiving down payment support from parents and grandparents.
If your answer to any of these questions is favorable, it may mean you are in a better-than-expected position to become a first-time homeowner, or to move up to your dream home.
Call me to discuss how you might be able to afford a new home.
QUALIFIED SENIOR PRIMARY HOMEOWNER TAX EXEMPTION APPLICATION DUE MARCH 15
Good news for seniors who lost their homestead tax exemption when they sold their homes. Thanks to the Colorado legislature, those who sold a home in which they had lived for 10 years between January 1, 2020, and December 31, 2024 – and lost their senior tax exemption – will now qualify to regain this exemption for the 2025 and 2026 tax years, provided they owned their current primary residence on January 1, 2025. The application and instructions are available on your county assessor’s website and the application for the 2025 tax year is due March 15.
Call us if we can help you or a family member understand if you qualify and how to file.
BOULDER BENCHMARK SHOWS PRICES INCHING UP IN GREELEY, DOWN IN FORT COLLINS
Since 2010, The Group has tracked the changing sales prices of comparable homes in Boulder, Fort Collins and Greeley. We monitor homes built around the same time – late 1950s to early 1960s – by the same homebuilder, and all of similar size. Here’s a look at 2024 prices:
NOW IS THE TIME TO PREPARE FOR INSURANCE VOLATILITY
In the aftermath of the Marshall Fire in Colorado – and recent wildfires in California – homeowners face evolving insurance challenges. Nationally, Colorado ranks either No. 2 or No. 3 in wildfire danger risk and is No. 2 for hail losses, which has impacted affordability.
Another significant concern is underinsurance; a study revealed that 74% of those affected by the Marshall Fire were underinsured, with many affected households having coverage for less than 75% of their home’s replacement cost! There are over 320,000 homes in Colorado at risk for wildfire, second only to California’s 1,250,000. Texas ranks third with 245,000 vulnerable homes.
The increasing number of natural disasters in Colorado – mainly due to fire, hail, and wind damage – has resulted in an average increase in Colorado homeowners’ premiums by approximately 58% between 2018 and 2023. The frequency of these events – and $1B in losses – has led some insurers to withdraw from high-risk areas, making it more difficult for homeowners to secure coverage.
To navigate the changing conditions, homeowners should review policies regularly with a trusted insurance advisor, understand their policy details, consider additional coverage where appropriate, and implement mitigation measures if their homes are in high-risk areas.
Wildfire season and hail season are almost upon us. Now is the time to review your current coverage or shop for a new carrier/policy. The Group Inc. formed Collective Insurance to make sure homeowners understand their needs and what policies are available from multiple carriers.
- Compare Insurance Carriers and Policies
- Evaluate Entire Package, Including
- Replacement Coverage
- Inventory Personal Property
- Take Premium Reducing Measures
- Choose an Established Provider
Click HERE for a free, no-obligation review from our knowledgeable, professional team.
THE GROUP REAL ESTATE LAUNCHES GREELEY LOCATION
The Group Real Estate will launch our ninth location this spring when we open a new Greeley office – at 1829 56th Avenue, Suite A – another strategic move by The Group to respond to the changing demographics of Northern Colorado.
“We are excited to open our doors in Greeley,” said Brandon Wells, President and CEO of The Group. “This new office will allow us to strengthen relationships with our customers while actively contributing to the vibrant growth of Weld County.”
Wells continued, “Weld County’s rapid development and commitment to fostering a strong business environment make it the perfect location for our next chapter. We look forward to being part of the community and helping drive continued growth in the region.”
With a thriving economy, a strong sense of community, and beautiful neighborhoods, we believe Weld County is a natural fit for our mission to connect people with the places they love. Our new Greeley office is positioned to deliver unmatched local expertise, state-of-the-art technology, and exceptional service – all hallmarks of our reputation since our founding in 1976.
REAL ESTATE BY NUMBERS
- $64.1 million. Sale price for the 248-unit Courtney Park apartment complex, located at 4470 S. Lemay Ave. in southeast Fort Collins. The new owner, ColRich Multifamily, is a San Diego-based operator of apartments across nine different U.S. states, including 20 properties in Colorado.
- 122. Total acres the city of Loveland is considering for annexation near the southwest corner of U.S. Highway 34 and Interstate 25. Known as Schmer Farm, the site could become home to a 30-acre retail development, including a King Soopers grocery store.
- $21 million. Sale price for The Grove at Greeley Apartments LLC, a 10-building, 192-unit complex at 3202 11th Ave. New Jersey-based investors recently bought the complex from Campus Crest Communities, which developed The Grove in 2007. The student-oriented facility is designed to house 504 tenants.
- 225. Approximate number of housing units that Colorado State University wants to build at Prospect Plaza, a proposed 5-story apartment complex at 304 W. Prospect Road at the southeast corner of campus. The student-oriented housing would house up to 785 residents.
- $1 billion. Estimated investment for the Cascadia project, a proposed multi-use recreation and housing development in west Greeley. As planned, the project would be built near the intersection of U.S. Highway 34 and Weld County Road 34. Cascadia would include a hockey arena, water park, 6,000 housing units, a hotel-convention center, and retail and restaurant sites.
- 10 percent. Growth in active housing inventory in Colorado between November 2019 and November 2024, according to data from Realtor.com. Colorado is one of 10 states in which inventory has exceeded pre-pandemic levels.
- 300. Acreage that the city of Greeley annexed in December. The annexation includes two different 150-acre parcels, located along the west side of Colorado Highway 257. Developers are proposing housing construction that could include up to 1,200 homes.
- $78 million. List price for a 15,086-square-foot mansion in Vail, making it the most expensive home currently for sale in the U.S., according to the Wall Street Journal. The 6-story home includes 11 bedrooms and 22 bathrooms.
- 20. Number of ZIP codes in Colorado in which homes have a median list price above $1 million, according to the real estate website, RealtyHop. The 81611 ZIP code in Aspen is the most expensive, with a median list price of $3.67 million.
- 1. Where Colorado Springs ranks among the country’s hottest housing markets in 2025, according to a forecast by Realtor.com. Denver ranks No. 19. The ranking is based on expected percentage growth in sales of existing homes.
- $27 million. Price that a California company paid for two apartment complexes in Longmont late last year. The buyer paid $14.75 million for the 50-unit Parkside Apartments complex at 1209 Tulip Street, and $12.25 million for the 80-unit Mountain View Plaza, an apartment community at 1350 Collyer St..
- $200 million. Estimated investment that the town of Nederland would make if it joins other partners to buy the Eldora Mountain ski resort. Last summer, Powdr Corp., the owner of Eldora, said it wanted to sell the 700-acre property, located just west of the town’s boundaries.