Blog April 17, 2016

Prices up $392 Per Day in Fort Collins

Today we’re researching the numbers in our market and we have a good one for you.  So far in 2016, average prices in Fort Collins are increasing $392 per day.  This is according to IRES, our local MLS service.

Here’s the deal.  The average price for a single family home in Fort Collins at the end of 2015 was $359,655.  Today, half way through April, it is $400,829.  A $41,000 increase in 4 1/2 months! (side note – it’s a big deal that average prices are now over $400,000, it’s the first time that has ever happened).

So, prices in 2016 are moving at a pace of $392 per day.

Great news if you are a homeowner.  Great news if you are a Seller.  Great news if you are thinking of Selling.

Not so great news if you are a renter.

What’s causing this?  A few things.

1.  Artifically low interest rates being held down for many factors including a weak global economy.

2.  Really high job growth in our local area.

3.  Really low inventory levels of homes for sale in our local area.

The takeaways:

1.  This is a good place to own real estate (the long-term numbers prove it)

2.  This is a good time to sell and move up (because rates are so low)

3.  This is a good time to become an owner if you are a renter (because rates are so low)