Skip to content

Longmont Home Sales Statistics

Between 2014 and 2018, average home prices in Longmont increased by 50%.

This content was originally published by the Longmont Observer and is licensed under a Creative Commons license.

Written by Devin O'Branagan

Between 2014 and 2018, average home prices in Longmont increased by 50%.

The steep rise in prices was due to two major influences: the rising costs of homes in Boulder County and the lack of new construction.

According to Kyle Snyder, account executive at First American Title, the cost of homes has been on the rise throughout Boulder County. “In 2018 the average price of a home in Boulder exceeded $1.2 million, making Longmont appear quite affordable at nearly $462,000. The cost difference has driven home buyers into Longmont, where supply has been low.”

Starting in 2009, there was a five-year period that was absent of new construction in Longmont. This was due to the recession and also how Longmont’s Inclusionary Zoning regulations affected builders.

Under that law, builders were required to contribute 12% of new construction to the affordable housing program, either in the form of low-cost housing or cash-in-lieu paid into that program. Because of that restriction, builders moved out of Longmont.

That ordinance was repealed in 2011, and new construction in Longmont resumed. However, the mandate was reinstated in December of 2018.

Snyder, who works in conjunction with the Longmont Association of REALTORS® to provide home sales statistics to the local community, predicts that home costs will continue to rise in 2019 with the average price of a single-family home being $490,000, which is an approximate 6% increase from last year.

However, the recent passing of the Inclusionary Zoning Ordinance by the Longmont City Council could result in a 10-11% increase, bringing the average home price over $500,000.

Graph courtesy of Kyle Snyder, First American Title.

The difference between the two potential outcomes will depend on developers’ ability to work with the new regulations.

“If developers are able to work with the regulations and keep increases closer to the 6% mark, real estate agents, buyers and sellers will feel as if there is an epic shift in the market because it will be slower than in the past five years,” says Snyder.