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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)
