Northern colorado news briefs
Weld County leads region in growth
Recent regional population estimates show that while all four counties that compromise the Northern Front Range experienced growth, Weld County led the pack. From the summer of 2019 to the summer of 2020, Weld County's population grew by 9,280 people, which is more than the combined population increases in Larimer County (3,187), Boulder County (1,151,) and Broomfield County (1,619). In regard to total population, Larimer County remains the most populas with 360,428 residents. Next up is Weld County with 333,983 residents, Boulder County with 327,171 and Broomfield County with 72,236 residents.
1st Quarter Real Estate MarketWatch
Information and Real Estate Services (IRES) released their Q1 2021 MarketWatch Report and in Northern Colorado home prices are on the rise. In Larimer County, the average sales price was $542,547 for Q1-2021, an increase of 15.2% year-over-year. The number of closed sales was up by 11.2% reaching 1,115. In Weld County, the average sales price was $455,343 for Q1-2021, a 16.5% year-over-year increase. The number of closed sales was up 0.9%, coming in at 1,189. In Boulder County, the average sales price was $989,991 for Q1-2021, a 29.4% year-over-year increase. The number of closed sales was down 17.7%, coming in at 567.
Quarterly Business & Economic Indicators report
The recently released Colorado Quarterly Business & Economic Indicators report shows record filings with a need for employment growth. Colorado added a record 44,740 new corporations, nonprofits and other entities filed during Q1 2021. While this is good news, nagging unemployment remains a concern where leisure and hospitality sector accounts for 46% of job losses in the last year. The vaccine rollout and rollback of business capacity restrictions is fueling optimism. Click here to read the full report prepared by the Leeds Business Research Division (BRD) at CU Boulder in conjunction with the Colorado Secretary of State’s Office.
U.S. News Best Places to Live: Boulder #1, Denver #2, Colorado Springs #4, Fort Collins #5
U.S. News released their list of "150 Best Places to Live in the U.S. in 2020-21" and several Colorado communities were featured in the Top 10. These included Boulder at #1, Denver #2, Colorado Springs #4 and Fort Collins #5. U.S. News analyzed the 150 most populous metro areas based on desirability as a place to live, strength of the job market and quality of life.
Watch the 2021 Talent Summit
The Fort Collins Area Chamber of Commerce recently presented the fourth annual Talent Summit on April 21, 2021. Key takeaways included that the post pandemic workforce will likely be hybrid virtual (20 – 80% in office), not primarily virtual like we are today or primarily onsite like we were in the old normal. In addition, 1 in 3 professionals currently working from home would look for a new job if required to return to the office and 57% trust technology more after COVID. You can click here to watch the full recording of the Talent Summit.
NoCo hotels showing uptick in occupancy
Hotel occupancy rates for Northern Colorado showed an uptick in March. Loveland hotels were 59.5% occupied last month with an average night's stay cost $95.46. Greeley came in at an occupancy rate of 58.5% and average prices of $80.18. Fort Collins hotels were 49.7% occupied with a night's stay cost an average of $92.41, and Boulder hotels came in at 46.5% occupancy and an average cost of $106.01. Statewide, the March 2021 occupancy rate was 51.3%, up from 38.8% in March 2020.
Festivals and concerts making comeback
Several Northern Colorado summer concert series and festivals are moving from TBD to specific showtimes. You can mark your calendar for The Greeley Stampede June 24th - July 4 this summer. Another treasured annual event, Sculpture in the Park has announced their dates for August 6-8th at Benson Park in Loveland. The Rialto Theater will once again pair up with the city of Loveland to offer the Loveland Summer Concert series at Foote Lagoon. The series will start August 5th with four concerts through August 26th. The Lagoon Summer Concert Series in Fort Collins will be announcing their 2021 summer lineup in the coming weeks. Other venues to track include the Budweiser Events Center in Loveland and the Union Colony Civic Center in Greeley.
NoCo Economic Recovery Tracker
As part of broader Reignite the Economy efforts, the Fort Collins Chamber of Commerce and regional partners created a tool to track Northern Colorado economic recovery. Selected indicators are updated regularly with no more than a two-month lag and are primarily available at the county level. This list of indicators includes but is not limited to unemployment rates, labor force, job postings, small business revenues, consumer spending and retail sales. These measures can help community members and leaders monitor areas of strength or weakness in the recovery. Click here to view the recovery tracker.
Highlights from Colorado's March 2021 Economic & Revenue Forecast
The Colorado Legislative Council staff recently presented the March 2021 Economic and Revenue Forecast to the state's Joint Budget Committee. Some good news included that as of January, the state had regained 57% of jobs lost since the pandemic began last March. In addition, Colorado's general fund, made up primarily of income tax collections, "remained resilient" the state economists wrote. View complete article here.