According to the Fort Collins Board of Realtors:
“New Listings were down 39.6 percent for single family homes and 36.1 percent for townhouse-condo properties. Pending Sales landed at 151 for single family homes and 71 for townhouse-condo properties.
The Median Sales Price was up 15.7 percent to $541,000 for single family homes and 19.2 percent to $387,500 for townhouse-condo properties. Days on Market decreased 29.3 percent for single family homes and 9.6 percent for townhouse-condo properties.
For many buyers, 2022 marks a new opportunity to make their home purchase dreams a reality. But it won’t be without its challenges. Inventory of existing homes was at 910,000 at the start of the new year, the lowest level recorded since 1999, according to the National Association of REALTORS®, and competition remains fierce. Affordability continues to decline, as inflation, soaring sales prices, and surging mortgage interest rates reduce purchasing power. The sudden increase in rates and home prices means buyers are paying significantly more per month compared to this time last year, which may cause sales to slow as more buyers become priced out of the market."
For more news and a complete review of the latest housing statistics and information compiled by the Fort Collins Board of Realtors click this link and download the full report.
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