Market Report as of
While Florence has less inventory than other areas in Fremont County, such as Canon City, there are some
incredible properties that can be purchased if swift action is taken. Following the rise in the Denver (#1 market in the nation for 2016) and Colorado Springs housing markets, Florence is generating a lot of interest. Home and land values are increasing as the listing inventory is shrinking. In shifting to a seller's market, demand is starting to outpace the current inventory.
Concerning potential sellers: If you are thinking of selling, now is a profitable time to make this decision. There is currently noticeable risk of interest rates being raised. If interest rates move up one point, buyers' purchasing power is reduced by 10%. This implies there will be a much smaller pool of purchasers who are able to buy your property at the price that's desired. Historically, this can lead to a reduction in your price to an uncomfortable degree.
Concerning potential buyers: Variables concerning market volatility for the nation are mostly stable, interest rates are exceedingly low (with current risk of them being raised), and the number of properties available in this area is moving towards all-time lows. If you are looking to purchase real estate in Florence, your window of opportunity is shrinking for a desirable price.