Updated 3 bedroom, 3 bathroom at 2502 Timberwood Dr #82 in southeast Fort Collins town-home! Close to sought after schools, easy access to I-25, restaurants and shopping. Vaulted 2 story ceilings in the living room and an open floor plan. Relax on the back patio that opens to the greenbelt. New flooring, new paint, and stainless appliances. Finished basement creates a second en-suite area! Call for your private showing at 970-673-7285 for more information or click the link below for more details.
We talk about it all the time, as Buyers we worry about it and as Sellers (who need to buy) we worry about it. But what do the numbers really look like?
Well, over the last 3 years in Fort Collins we have ranged between 1.11 months and 2.17 months of inventory over all of the price ranges. The National Association of REALTORS data suggests that a balanced market is when there is 6 months of inventory, so we have been in a “buyer’s market” for a while. Right now, we have the lowest level of inventory available in that 3 year span at 1.07 months of inventory in Fort Collins.
While that can sound daunting to a buyer, remember that the interest rates have already started to increase, so with that will come higher payments for the same loan amount. Combine that with the appreciation that is sure to continue to come due to the low inventory, you will ABSOLUTELY be paying more on a monthly basis for the same home 6 months or a year from now. It puts the search in perspective, and makes the competitive market worth while for you to buy now based on the numbers.
BEAUTIFULLY maintained home at 2509 Tulane Dr, just a block from O’Dea Elementary. Permitted addition makes this home almost 2,400 square feet. Wood floors on the main floor in fantastic condition, open kitchen to the living room. Newer style vinyl windows throughout, new roof in 2015, new carpet in most rooms, and a brand new furnace! Landscaping is as close to perfect as it can get. Large office, study and recreation room with its own access to the backyard. An amazing opportunity under $400,000 in South College Heights! Call for a private showing or click the link below for more details.
Now that we have finished with the election turmoil, we’ll start to see what the results will mean for the housing market. If you’d like to see Windermere’s Economists point of view on the matter, check out this link.
We are still seeing signs of low inventory and a quick moving market, and even some antidotal evidence that the $500,000 to $750,000 segment of the market is starting to see more showings and activity than we saw in August through October. The average price in Fort Collins year to date is up 10.4% to $395,913, almost $400,000 average price. We are also at 1.8 months of supply (remember the National Association of REALTORS says a balanced market is 6 months), and that is a 28% drop since last year at this same time. This means we have even LESS homes to satisfy the market.
While interest rates have started to climb a little since the election, we are still historically low for interest rates so if you need or want to buy then now is a great time! And as a seller, as we’ve seen with the data I’ve presented above, if you want to sell your home give me a call and we can talk about how the Windermere Certified Listing program can help get your home sold quickly!