This is the January 2017 Real Estate Market Update for
Affordable Homes for sale in Fort Collins CO
If you are a renter wanting the financial benefits of home ownership, a first time home buyer, or working with a limited budget, you may find what you're looking for by browsing the available inventory of Affordable Homes for sale in Fort Collins CO.
However, you'll need to be aware of the fact that affordable homes are in very limited quantity in the Fort Collins area, and there is strong competition from other buyers. Being successful in your search will require keeping up to date on what's happening in the market, having your financing in place and being ready to act quickly when a good opportunity comes along.
The inventory of affordable homes continues to be small - there are at present only 9 Fort Collins homes available for sale that are priced under $275,000, starting at a low of $179,300, providing a limited choice of styles, locations, sizes and condition. There are another 8 affordable homes under contract and waiting to close.
Please note that we have recently raised the ceiling for our definition of affordable homes to $275,000, reflecting the changes in the market for these homes over the last 2 years.
Sales of affordable homes were strong in Fort Collins during 2016 - there were 443 sales, ranging in price from a low of $65,000, with a median price of $255,000, and an average price of $232,398. Market performance was good - average days to get an offer for the homes that sold was 39 days, with an average days on the market of 73. The sale price/list price ratio for these 443 homes was 98.5%.
Because the availability of affordable homes changes often, if you would like to track the inventory in this market segment, 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 you find something that matches your needs. When that happens, please give us a call – we'd be happy to schedule a showing for you quickly and at your convenience.