This is the November 2017 Real Estate Market Report for
Homes for Sale in Fort Collins CO
Home sales dropped slightly in Fort Collins in October 2017 to 261 sold, down 2.7% from 268 sold in September 2017, but were up 18.1% from 221 sold in October 2016. We moving into our slower winter season and should see sales declining over the next several months.
Home prices rose in October 2017, with the median price at $375K, a gain of 4.7% from the $358K reported in September 2017, and the average price at $423K, a gain of 5.4% from the $401K in September 2017. Monthly price data are for those specific homes sold during the month and tend to fluctuate regularly. The long-term trend line gives us a much better feel for what is happening with home values, and that is still trending upward.
Inventory continues its expected seasonal decline. At the end of October 2017, homes for sale were down 8.2% to 527 homes on the market, from 570 at the end of August 2017. The Month’s Supply of Inventory (MSI) fell slightly to 2.0 months, and even now in slower times, remains less than optimal.
The October 2017 real estate market provided no surprises - we expect to see a seasonal slowdown this time of year. The declines in sales and inventory are within normal ranges, and the price increases are unlikely to be anything other than the regular month-to-month variations. But even during our winter season, we anticipate a fair amount of activity in the real estate market - regional economic and employment growth remain strong, and should contribute to continued high levels of buyer demand. There will be few clues during the next several months that will tell us much about what the 2018 market will look like - the key will be whether inventory will be sufficient to meet demand, and the winter season won’t tell us much about that.
If you would like to take a look at the current inventory, browse Homes for Sale in Fort Collins CO. When you find a home you like, please give us a call - we'd be delighted to schedule a showing for you at your convenience. And please don't hesitate to contact us if you have any questions about this market report or other real estate topics.
Mary & Dick Greenberg
Data Source: IRES MLS