We wanted to share a quick update with you today. It concerns the health of our market and whether buyers or sellers have an advantage.
A lot of our clients have been asking us about what’s going on with the market. I pulled some statistics today that I would love to share with you.
In Fort Collins right now, there are 60 active listings and 325 properties that have gone under contract or sold in the last three months in the $300,000 to $400,000 range. Basically, the market is absorbing about 108 properties per month, and we only have a two-week supply of inventory right now.
Studies from the National Association of Realtors show that if the number of homes that are on the market is equal to the number that have sold in a six- month period, that indicates a balanced market. It keeps the appreciation at an equilibrium, which is good.
With just a two-week supply of homes, we are in a heavy seller’s market in this price range in Fort Collins. There is significant upward pressure on prices in this market.
“THERE IS SIGNIFICANT UPWARD PRESSURE ON PRICING IN THIS MARKET.”
In Loveland, Windsor, and Greeley, we saw pretty much the same situation in the $300,000 to $400,000 price range. We have a two-week supply of homes in Loveland and Greeley, and a three-week supply in Windsor.
Obviously, these numbers will change depending on the price point you are in. If you have any questions for us or would like to know the specific numbers for your price range, give us a call or send us an email. We would love to hear from you!