Home Sales:

In January, 2015, 161 homes sold, a 27.3% decrease from the 205 sold in December, 2014, but a 13.4% increase over the 142 homes sold in January 2014. We wouldn’t expect much different, given that we’re in the slowest part of the year for home sales, and we expect to see gains begin during the next two months.

Home Prices:

Home prices declined in January 2015. Median price dropped to $290K, down 9.7% from $318K in December 2014, and average price dropped to $332K, down 7.1% from $345K in December. This also isn’t of great concern, since these figures only relate to those specific homes sold during those months. The much more important trend line is still moving upward, and is a much better indication of rising home values.

Inventory of Homes for Sale:

Overall inventory of homes for sale rose from 760 in December 2014 to 777 in January 2015. However, once homes already under contract are accounted for, the actual inventory numbers declined, with 418 homes actively on the market, compared with 433 in December. Inventory is going to be the major factor affecting the market this coming year, but it is too early to see the hoped-for gains in this important indicator.

Summary:

It’s always hard this early in the year to forecast from current data. We’re in a traditionally slower time for real estate activity and don’t expect the market to show definite signs of movement from other factors this early. The next several months will start to give us a better feel for how 2015 will shape up. One thing we’re sure of, though, is that buyer demand remains very strong. It also appears that the regional economy is on solid footing, with good job growth expected. We’ll be watching the numbers closely, so stay tuned.

If you're curious about what's on the market now, take a look at Homes for Sale in Fort Collins. If you see something you like, please give us a call - we would be delighted to schedule a showing for you at your convenience.