Fort Collins residential sweet spot up to $400K
Fort Collins residential sweet spot up to $400K
Pat Ferrier , patferrier@coloradoan.com 8:00 a.m. MT June 2, 2017
Homes selling for less than $400,000 being snapped up in days
Buy Photo
(Photo: Austin Humphreys/The Coloradoan)
This story may sound like a broken record.
Home prices in Fort Collins’ white-hot market continue to escalate, pushed by the convergence of low inventory leading, increased competition, and an explosion of people with cash to spend on pricey real estate.
It is still a sellers’ market throughout Northern Colorado with homes listed for less than $400,000 fetching multiple offers above asking price — sometimes even before a property hits the market.
From May 31, 2016, through Wednesday, 1,253 Fort Collins homes sold for less than $400,000, going under contract in an average 18 days, according to IRES data provided by the Colorado Association of Realtors, or CAR.
Many, if not most of those homes, could have been under contract within hours of hitting the market, but sellers often wait to field multiple offers over a few days, said CAR spokeswoman Kelly Moye.
By the numbers
Fort Collins single-family homes sold between May 31, 2016, and Wednesday:
| PRICE | $400K AND LESS | $400K-$800K | $800K-$1.5M |
| HOMES SOLD | 1,253 | 994 | 57 |
| Percent of list price | 100.2 | 99.3 | 96.6 |
| Days to offer | 18 | 39 | 66 |
| Percent of cash sales | 20 | 16 | 36 |
SOURCE: Reported by Colorado Association of Realtors based on IRES data.
Homes sold
May residential real estate data in Fort Collins:
| SINGLE-FAMILY HOMES | MAY-16 | MAY-17 | YEAR TO DATE |
| NEW LISTINGS | 184 | 192 | 598 |
| Median sale price | $360,150 | $398,950 | $392,500 |
| Percent of list price received | 100.8 | 99.9 | 99.6 |
| Townhomes/condos | |||
| New listings | 89 | 67 | 288 |
| Median sale price | $266,750 | $290,172 | $280,500 |
| Percent of list price received | 103.4 | 100.7 | 100.5 |
SOURCE: Reported by Colorado Association of Realtors based on IRES data.
Read more at the Coloradoan.com.