Market Statistics for Fort Collins in the month of January, 2008.
This first chart deals with the number of homes sold in Fort Collins (excluding condos) in the month of January 2008 compared to the previous 2 years.
This next chart shows both the average and the median selling prices for single family homes in Fort Collins. The median sales price really acts as a market sentiment indicator. It is found by dropping the highest and lowest sale prices and proceeding toward the midpoint in price.
This chart outlines the average days on market for single family detached homes in Fort Collins.
This chart shows a comparison of various housing types and their relative median sales prices.
This chart shows the number of listings taken at the month's end.
The next chart shows the absorption rate in Fort Collins. The absorption rate is the amount of time it would take for the market to absorb the current inventory if no other homes were added.
These statistics were pulled from IRES, the multiple listing service for Northern Colorado. I will try to post these and other statistics on a monthly basis. Please contact me if you have any questions about any of the charts or would like to know more about a certain set of statistics.
Fort Collins is a wonderful city! One thing to note is that the 2008 statistics are based only off of January 2008 (which typically is not a great time for real estate in Colorado anyway). A cross section of many different studies suggests that Northern Colorado is starting to pick back up again and may in fact become a seller's market within the next few years. Inventory is still relatively high and interest rates are wonderfully low, there are many foreclosures on the market (as well as short sales). All in all, this is still a great time to buy. Maybe even a historically great time to buy as stats show the seller's market on the horizon. Buy low, sell high. That's what we'd all like in Real Estate.
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