Market Happenings
According to the Fort Collins Board of Realtors:
"New Listings were down 33.3 percent for single family homes and 28.1 percent for townhouse-condo properties. Pending Sales landed at 144 for single family homes and 54 for townhouse-condo properties.
The Median Sales Price was up 28.1 percent to $625,000 for single family homes and 1.1 percent to $359,905 for townhouse-condo properties. Days on Market decreased 38.2 percent for single family homes and 47.5 percent for townhouse-condo properties.
Inventory was at an all-time low of 860,000 as February began, down 17% from a year ago and equivalent to 1.6 months supply. According to Lawrence Yun, Chief Economist at the National Association of REALTORS®, much of the current housing supply is concentrated at the upper end of the market, where inventory is increasing, while homes priced at the lower end of the market are quickly disappearing, leaving many first-time buyers behind. The shortage of homes is boosting demand even further, and with bidding wars common in many markets, it’s no surprise sales prices continue to soar."
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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