Bison Real Estate Group 2024 Annual Report

Annual

Report Northern Colorado

2024

A Look Back

As we reflect on 2024, it’s clear that the real estate market continues to be a dynamic and ever-evolving landscape.

Rather than focusing on short-term, this year challenged us to think long-term, to embrace an abundance mindset, and to serve our clients with clarity. In this annual report, we take a moment to look back at the patterns and trends that emerged, helping us build stronger relationships, provide greater value, and create lasting success for everyone we serve. Real estate isn’t about transactions—it’s about playing the infinite game of trust, growth, and opportunity.

2

Annual Report Contents.

04-06

2024 Interesting Findings For sale by owner | Median homebuyer age | Typical of age of sellers Empty nesters | House tenure | Median first-time buyer age First time buyers | All-cash buyers | Home search | Agent production

08-12

Northern CO Snapshot Fort Collins | Wellington | Timnath | Windsor Loveland | Johnstown | Berthoud | Greeley

13-15

Looking Ahead to 2025 We are excited for what the new year holds and look forward to continuing to serve you in this ever-evolving market.

for more information visit us at www.BisonREGroup.com

3

2024

Interesting Findings As we enter 2025, the real estate market continues to evolve, shaped by shifting demographics, buyer preferences, and market dynamics. Here are some fascinating insights and statistics that highlight key trends:

24 Percent

First-time buyers

32% of the market in 2023 consisted of firsttime buyers. This year dropped to only 24% of the market being first-buyers which qualified for an alltime low Source: NAR®

38 Years

Median first-time buyer age Last year the median first-time buyer age was 35 years. This year the age jumped to 38 years old.

Source: NAR®

56 Years

Median home buyer age

Typical of age of sellers

The median home buyer age in 2023 was 49 years.

The typical of age of home sellers was 63 in

2024 reached an all time high with the median

2024. This reached the highest share recorded.

home buyer age being 56 years old.

Source: NAR®

Source: NAR®

4

63 Years

47%

Agent Production 47% of agents sold zero homes last year equalling 700,000 agents!

Source: NAR®

6%

77%

26%

For sale by owners

Empty nesters

All-cash buyers

6% of sales were FSBOs. This is an all time low for for sale by owners.

Of all homes sold on the market, 77% did not have children under the age of 18 residing at home.

2024 reached an all time high with 26% of all transactions being made by all-cash buyers.

Source: NAR®

Source: NAR®

Source: NAR®

The median number of years a seller owned their home was 10 years. From 2000-2008 that tenure was only 6 years.

Source: NAR®

Buyers typically viewed 7 homes and 2 of those homes were viewed online only. This means the average home buyer looked at 5 homes before making the decision to buy a property.

Source: NAR®

10 Years House Tenure

7 Homes Home Search 5

Supply

and Demand Months Supply of Inventory Existing

New

16 14 12 10 8 6 4 2 2023 2024

2022

2021

2020

2019

2018

2016 2017

2015

2014

2013

2012

2011

2010

2009

2007 2008

2006

2005

2004

2003

2002

2001

2000

0

Source: NAR®

U.S. Population U.S. population grew by 70 million people from 1995 to 2024. Home sales cannot remain at 1995 levels.

400

million

350 300 250 200 150 100 50

6

Source: NAR®

2024

2021

2017

2013

2009

2005

2001

1997

1993

1989

1985

1981

0

Lets connect

BisonREGroup.com With a passion for real estate and a commitment to community betterment.

We have consistently demonstrated exceptional expertise and dedication, earning recognition as one of America’s Best Real Estate Professionals, ranking within the top 1.5% according to Real Trends.

“I used this team for three real estate

“This team was professional

transactions in the past year. I was

available and knowledgeable.

always most impressed with his

His communication with us was

quick response to my text and calls.

exceptional and the best we’ve

He knows the real estate market. He

experienced in 30 years of buying and

went the extra mile in helping me get

selling homes! I highly recommend.”

lined up with the services I needed.

I will use him again and I will gladly

— Mary B

recommend him to anyone.”

— Robert E

7

Northern Colorado

Snapshot Fort Collins

Wellington

Annual Dollar Volume

Annual Dollar Volume

$1.75B

$200M

$1.50B

-14.5%

+10.8%

$150M

$1.00B

$0

2022

2023

2024

Annual Months Supply of Inventory

$123,384,506

$50M

$165,333,019

$1,483,375,098

$0.25B

$1,338,911,928

$0.50B

$1,565,810,713

$0.75B

-25.4%

$100M

$0

2022

+4.3% $128,734,112

$1.25B

2023

2024

Annual Months Supply of Inventory

3.0

3.5

2.5

3.0 2.5

+90.0%

1.5

+21.1%

2.0

+26.7%

0

2022

Fort Collins, CO

8

2023

0.5 2024

0

1.9 months

0.5

1.0

1.5 months

1 month

1.9 months

1.0

2.3 months

1.5

2022

+57.9% 3.0 months

2.0

2023

2024

Timnath

Windsor

Annual Dollar Volume

Annual Dollar Volume

$300M

$700M

$250M

$600M

-2.9%

$200M

+12.0%

$500M

-15.5%

$400M

+13.7%

$0

2022

2023

2024

Annual Months Supply of Inventory

2022

2023

2024

Annual Months Supply of Inventory 4.0

3.0

+43.5%

+6.1%

+60.0%

0.0

2022

2023

2024

0.0

2.4 months

1.0

1.5 months

3.3 months

3.5 months

2.0

2.3 months

2.0

3.0

2022

+45.8% 3.5 months

4.0

1.0

$0

$602,696,358

$100M

$530,009,616

$200M

$627,416,927

$300M

$249,623,193

$50M

$229,590,196

$100M

$222,852,951

$150M

2023

2024

Windsor, CO

9

Northern Colorado

Snapshot Loveland

Johnstown

Annual Dollar Volume

Annual Dollar Volume

$1.2B

350M

$1.0B

$300M $250M

$0

2022

2023

$100M $50M

Annual Months Supply of Inventory

$0

2022

+7.20% $284,676,433

$150M

2024

-7.30%

$200M

$265,526,770

$0.2B

-5.10% $767,034,695

$0.4B

$808,153,003

$0.6B

$1,001,533,792

-19.30%

$286,523,455

$0.8B

2023

2024

Annual Months Supply of Inventory

3.0

3.5

2.5

3.0 2.5

+50.0%

1.5

+38.9%

2.0

+20.0%

2022

Loveland, CO

10

2023

0.5 2024

0

1.8 months

0

1.0

1.5 months

0.5

1.8 months

1.2 months

1.0

2.5 months

1.5

2022

+66.7% 3.0 months

2.0

2023

2024

Berthoud

Greeley

Annual Dollar Volume

Annual Dollar Volume

$400M

$1.08B

$300M

$0.8B

2024

Annual Months Supply of Inventory

$0

2.5

4.0

2.0

0.0

2022

+15.2%

2023

1.5 1.0

3.8 months

3.3 months

1.0

1.4 months

2.0

+135.7%

2023

2024

Annual Months Supply of Inventory

5.0

3.0

2022

$554,936,724

$0.2B

$533,666,275

$276,891,174 2023

$0.4B

0.5

2024

0.0

+45.5%

2022

+31.3% 2.1 months

2022

+4.00%

$0.6B

1.6 months

$0

$274,827,041

$100M

$338,198,916

$200M

-7.30%

$286,523,455

+0.80%

1.1 months

-18.70%

2023

2024

Greeley, CO

11

Appreciation

Northern Colorado Fort Collins - Loveland Accumulated Appreciation Since 2004

180%

165.0% Increase Since 2004

160% 140% 120% 100% 80% 60% 40%

Source: www.FHFA.gov | 11/29/2024

2024

2023

2022

2021

2020

2019

2018

2017

2016

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

0%

2004

20%

2024 Appreciation Rates Based on ONLY Jan - Sept Data. Appreciation Based on Purchase & Refinance Data

160%

148.7% Increase Since 2004

140% 120% 100% 80% 60% 40%

Source: www.FHFA.gov | 11/29/2024

12

2024

2023

2022

2021

2020

2019

2018

2017

2016

2015

2014

2006

0%

2005

20% 2004

Accumulated Appreciation Since 2004

Greeley

2024 Appreciation Rates Based on ONLY Jan - Sept Data. Appreciation Based on Purchase & Refinance Data

Colorado’s real estate market in 2025 is expected to remain stable, with regions like Colorado Springs poised for notable growth. While home prices may experience modest increases, the market is projected to avoid significant downturns, creating a balanced environment for both buyers and sellers.

In Northern Colorado, the strength of the job market and the region’s diverse industries provide a solid foundation for continued stability, even in shifting economic conditions. Historically, Colorado has averaged around 4.5% annual appreciation, and 2025 is anticipated to align with this trend, signaling steady, sustainable growth.

Mortgage rates are expected to remain steady in the 6-7% range, offering predictability for buyers and homeowners alike as they plan for the year ahead. Overall, Colorado’s resilient market continues to offer a dependable environment for real estate investment and homeownership.

If you’re considering selling, patience will be key, as the average days on market continues to rise.

This shift means the chances of a home selling on the first day, as we often saw during the peak of low interest rates, are now much lower. Sellers should focus on proper pricing and presentation to attract the right buyers.

For buyers, it’s equally important to approach the market with patience, as it remains a “seller’s market.” Well-priced, desirable properties still tend to sell quickly, so be prepared to act swiftly when the right home comes along. However, with inventory gradually increasing, buyers now have more options than in recent years, providing greater opportunities to find the right home.

We believe that as consumer debt continues to rise, some homeowners may look to sell their properties to address financial pressures, such as paying off unsecured debt or managing a financial crunch. For many, refinancing is not an attractive option due to their existing mortgage rates being locked in at under 4%. This trend is a typical cycle following significant rate increases, as homeowners explore alternatives to improve their financial stability.

If you have any questions please know you can reach out to any of our great real estate brokers anytime to get expert advise.

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14

Looking ahead

2025 As we look forward to 2025, we do so with optimism and confidence in the continued growth of our Northern Colorado community. We anticipate strong job growth in both Larimer and Weld counties, a key driver of real estate demand in our region. Across nearly all healthy real estate markets, job growth serves as the foundation for stability and appreciation, and Northern Colorado’s market is no exception. The diversity of industries in our area continues to keep us resilient, ensuring that we aren’t overly reliant on any one sector, unlike other parts of the country.

While mortgage interest rates have dominated headlines in recent years, we believe they may not have the same spotlight in 2025. It’s likely we’ll see fewer dramatic shifts in rates, barring any unforeseen events. Mortgage rates are closely tied to the 10-year Treasury bond, which has experienced modest increases despite recent rate cuts and a more relaxed monetary policy by the Federal Reserve. In short, we expect rates to remain steady in 2025, offering stability for homeowners and potential buyers alike.

Northern Colorado remains one of the best places to live and raise a family, and as long as that continues to be true, we believe we will see ongoing appreciation in home values and steady demand for homes of all types. This is a community built on growth, opportunity, and a quality of life that is hard to beat.

We are excited for what the new year holds and look forward to continuing to serve you in this ever-evolving market.

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4702 Larimer Pkwy #101 Johnstown, CO 80534

P. 970-795-0083 www.BisonREGroup.com

CORY YOUNIE

BRIANNA CUNNINGHAM

JENNIFER FORREST

Broker | Owner

Broker Associate | Office Administrator

Broker Associate

970.391.8236

303.907.3617

970.460.6470

cory@younierealestate.com

brianna@bisonregroup.com

jennifer@bisonregroup.com

CHERYL KING

MANDY SMITH

TOM WASHBURN

Broker Associate

Broker Associate

Broker Associate

970.344.8110

970.988.9824

970.219.6431

cheryl@bisonregroup.com

mandy@bisonregroup.com

tom@bisonregroup.com