This is the October 2015 Real Estate Market Report for Fort Collins CO.
September 2015 home sales were down 9.8% to 276 from the 303 sales in August 2015, but up 5.4% from the 261 homes sold in September 2014. This is a fairly typical result for September, when we begin to see the first clear signs of a slower market due to normal seasonal effects.
Home prices decreased in September 2015 - the median price of sold homes dropped to $315K, a decline of 1.5% from $320 in August 2015, and the average price fell 2.0% to $351K from $358K in August 2015. The three-year trend is continuing to indicate steady upward movement in home prices, however, with the September price numbers up 35%+ over the last three years.
Inventory is continuing to rise, with an 8.9% increase to 673 available homes in September 2015, up from 618 in August 2015. This increase is welcome, and, as indicated by the 2.4 month’s supply of inventory in September, is moving toward what is needed for market balance - however, we’re still experiencing a seller’s market at this time.
The Fort Collins real estate market is beginning it’s transition into the usual seasonal slowdown, as we move closer to the holidays and winter weather. Sales and prices both fell in September, while inventory rose. It’s clear that buyer demand is still fairly strong - it’s being driven by on-going regional economic growth, and there is no reason to expect that there will be any significant change in that for the immediate future. We expect continued slowing in sales as well as inventory, and not much change in prices for the remainder of the year.
If you would like to check out what's on the market now, take a look at Homes for Sale in Fort Collins CO. When you find something that might be a good fit with your needs, please give us a call - we would love to schedule a showing for you at your convenience.