Wellington: The Final Frontier of Affordability

Wellington: The Final Frontier of Affordability
Wellington: The Final Frontier of Affordability

By:  Kareen Kinzli Larsen, Realtor at RE/MAX Alliance

 

The Front Range is booming.  From the artery like glow of headlights on I-25 or the sea of new construction rooftops, there doesn’t appear to be an end in sight.  Along with this growth, we have seen an unrelenting increase in home values over the past seven years.

 

The little bedroom town of Wellington is growing up quickly and is among the top 5 fastest growing municipalities in Colorado, but remains an oasis of affordability for home purchases. A 15 minute drive can save you approximately $50,000 – $75,000 in purchase price.  You can simply afford more house in Wellington than you can Fort Collins.

 

Wellington has a nice variety of condos and townhomes to spacious 4+ bedroom single-family homes with large garages, nice yard space, and access to neighborhood pools.  Many of these homes are within walking distance of schools, parks, gyms, breweries, restaurants or the thriving grocery store.

 

In 2018, the average single-family home price in Fort Collins was $467,057.  Wellington’s average was $363,730 with a median sale price of $349,900. Fort Collins average price for multi-family homes including condos and townhomes was $313,194.  Wellington’s multi-family average was $264,213.

 

Wellington’s median home price is making up ground.  The median selling price of Wellington homes jumped 12.87% compared to Fort Collins growth of $6.33%.  How can this be? This difference is attributed to the significant increase of higher priced new construction homes.  Sage Meadows and Harvest Village have created a new marketplace for larger homes and are setting new highs with prices between $350,000 – $425,000.  

 

Can you create a little box separate from the following article:

 

Highs & Lows

The lowest priced home sold within the town limits of Wellington was built-in 1920 with 378 square feet and sold for $168,000.

The highest price home sold within the town limits of Wellington was built-in 1996 with 4048 total square feet, 3 car garage on 2.38 acres and sold for $625,000.

 

Or:

By The Numbers

Wellington’s Lowest 2018 Sale $168,000

A 1920’s 1 bdrm ranch with 378 square feet and no garage

 

Wellington’s Highest 2018 Sale $625,000

A 1996 4 bdrm ranch with 4048 square feet, a 3 car garage on 2.38 acres

 

*Obtained from IRES, Northern Colorado’s Multiple Listing Service

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