Fort Collins Housing Market - BiWeekly Update 7.15.2020
Fort Collins continues to perform strongly in the residential real estate side of things.
Stats over the previous two weeks:
Median List Price: $485,000
Median Sales Price: $454,000
Difference from List to Sales Price: $0
Median Days On Market: 43
Inventory: 217 Homes
This information is based on homes that are in Fort Collins that sit on between .1 and 3 acres and are NOT new construction. I want to see what existing home sales are doing.
The number to continue to pay attention to here, is inventory. We should see inventory climbing, not stagnating at 220 homes. We want to see that number climb to 250+. Really, we could see that number climb to 300-400 and the market would cool down from being such a seller's market.
I do know some investors who are putting some of their rentals on the market which should help inventory increase. But, I also know out of state folks who are moving here from all over. Houston, Tampa Bay, Brooklyn to name just a few.
Our population growth, combined with EXTREMELY low interest rates and incredibly low supply continue to push Fort Collins towards a very strong seller's market.
We still have a lot going on in our world that continues to weigh on my mind as far as investing goes. The unemployment $600/week boost expires July 31, 2020. Our divisive political elections will occur this November. And as of December 31st, all PPP funds must be used to qualify to be forgiven. These three things along with COVID-19 numbers, protests, the stock market along with many other factors will have their impact on the economy.
We are not in a meadow full of flowers with the sun shining brightly down upon us skipping to Bob Marley. It's more like we are walking in a 100 year old home with creaky wooden floors trying to not wake up the octuplets. So, SHHHHHH! Don't wake up the babies!