This is the November 2014 Real Estate Market Report for
Affordable Homes in Fort Collins CO
First-time home buyers looking for relief from rising rents, or those working with budget constraints will want to take a look at the current inventory of Affordable Homes for sale in Fort Collins CO.
The availability of affordable homes is limited at the present time - there are only 65 homes on the market in Fort Collins priced under $225,000, starting at a low of $39,900, providing a limited but interesting range of choice in style, location, size and condition. This segment of the real estate market is extremely active, with a lot buyer interest, so those considering purchasing one of these homes will need to plan ahead and be ready to move quickly.
Note: If you have been following our market reports for a while, you will notice that we recently raised the price ceiling on this category from $200,000 to $225,000. Low inventory, strong demand and rising prices have raised the entry level. This isn't good news for affordable home buyers, but does reflect what is happening in the current market.
Affordable homes have sold strongly thus far this year despite the lack of inventory - 580 homes priced under $225,000 have sold, ranging from a low of $42,000, with a median price of $203,000, and an average price of $190,947. Market performance has been very good - average days to get an offer for the homes that sold has been 54 days, with an average days on the market of 87. The sale price/list price ratio for these 580 homes was 98.6%.
Because of high demand for these homes, as well as frequent changes in inventory, keeping track of the market is important for interested buyers. We can help - let us set up an on-going search especially for you, with your own customized web site - you'll be notified whenever new listings are posted, and you'll be able to react quickly when the right home comes along. And when you find a home that you want to see, give us a call – we’d be happy to set up a showing for you quickly and at your convenience.
Mary & Dick Greenberg
Data Source: IRES MLS