I’m sure you are all very aware of the Northern Colorado Real Estate market by now, especially if you read my blog! But we are seeing an interesting phenomenon this spring so far. The days on market have been dropping yet again (down 17.9% for single family and 30.4% for condo/townhomes), EVEN with new listings UP almost 5 percent (4.7% for single family). What this means is demand is still FAR outpacing supply, even with the increased supply that has hit the market in comparison to last year. The absorption rate that I calculate each quarter for Fort Collins single family homes is still low, at 1.35 months of inventory.
The good news for sellers is that with the spring market in full “swing”, there are still buyers for those properties. And believe it or not, there is good news for buyers as well! Interest rates are still low, and the cash flow numbers on investment properties are at a 10 year high due to high rents and those low interest rates. So if you are looking to buy your first investment property OR your first home, the opportunity is there to make a great purchase.
Call me if you have any questions about this information, or if you would like regular market updates you can sign up for my Neighborhood News newsletter. Thank you and have a great Monday!