Fun facts pulled from the most recent Fort Collins Board of Realtors housing data:
Active Listings in July 2019: 666. Active Listings in July 2020: 466. 30% less available inventory compared to a year ago.
Pending Sales in July 2019: 281. Pending Sales in July 2020: 383. 36% more sales tracking towards closing.
Average Sales Price in July 2019: $462,000. Average Sales Price in July 2020: $487,000 (increase of 5.3%).
Unlike prior years, the heat in the residential is not concentrated at and under the average price point. We have seen a 20% year-over-year increase in the number of sales over $800,000.
With all time low interest rates expected to continue for the foreseeable future and lower inventory, we anticipate accelerated appreciation in the residential market.
Want a copy of the full report? Email Greg Roeder at: groeder@waypointRE.com