Fort Collins Housing Prices Still Climbing While Number of Sales Decline

Home prices continue to edge up in Fort Collins even as the number of homes sold declined for the first three months of the year.

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The median price of homes sold in the first quarter hit $420,000, up nearly 4 percent from last year’s first quarter, while the median price in March alone topped $425,000, according to Fort Collins Board of REALTORS®.

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“The numbers for March are certainly edging toward what may be another robust spring selling season across the Front Range,” said Chris Hardy of Elevations Real Estate in a housing report from the Colorado Association of REALTORS®.

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“Active inventory (the number of homes for sale) continues to increase, providing greater choice for buyers.”

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With the recent drop in 30-year fixed mortgage rates and the Federal Reserve’s inclination to leave rates alone for the rest of the year, there’s  “renewed optimism … that lagged a bit during winter months,” Hardy said.

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“If you’re priced out of the market at $350,000 or $400,000, moving down to $300,000 for a townhome with perhaps similar square footage but no yard … buyers are making that shift,” Hardy said.

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The city continues to see a host of new apartments being built, some geared toward college students, but many are market rate that charge top dollar.

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 “If you have to live in an apartment-style housing, why not own it?” Hardy said.

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