This is the July 2016 Real Estate Market Update for
Affordable Homes for sale in Fort Collins CO
If you are currently renting but want the financial benefits of owning a home, are a first-time home buyer, or are have a limited budget, the available inventory of Affordable Homes for sale in Fort Collins CO will provide some interesting options for you to consider.
However, affordable homes in the Fort Collins area are limited in number and there is strong competition from other buyers. Success in this market will depend on close attention - homes come and go rapidly - along with financing in-place and a willingness to make a fast decision when the right opportunity appears.
The inventory of affordable homes continues to be very limited - there are at present only 49 Fort Collins area homes currently on the market priced under $250,000, starting at a low of $52,000, providing a small but interesting range of styles, locations, sizes and condition. There are an additional 35 affordable homes under contract and waiting to close.
Please note that several months ago we raised the ceiling for our definition of affordable homes to $250,000, reflecting the changes in this market over the last 2 years.
Limited only by availability, sales of affordable homes have been good in Fort Collins so far in 2016 - 123 homes under $250,000 have sold, priced from a low of $65,000, with a median price of $220,000, and an average price of $201,911. Market performance has been good - average days to get an offer for the homes that sold was 64 days, with an average days on the market of 97. The sale price/list price ratio for these 123 homes was 96.5%.
There is frequent change in the availability of affordable homes, so if you would like to keep watch for one of these homes that might work for your needs, let us help - we'll set up an on-going search especially for you, with your own customized web site - you'll be notified as soon as new listings are posted, and you'll be able to react quickly when something interesting appears. When that happens, please give us a call – we'd be happy to schedule a showing for you quickly and at your convenience.
Mary & Dick Greenberg
Data Source: IRES MLS