This is the 2019 Real Estate Market Summary for Fort Collins CO
2019 was a slower, calmer year for home sales than we have experienced lately. 2,763 single-family homes sold last year, down 2.5% from the 2,832 sold in 2018, and down 7.9% from the 2,982 sold in 2017.
During 2019, home prices trended generally higher than in previous years. Median prices ended the year 5.5% higher than they started, while average prices ended 3.4% higher.
During 2019, the availability of homes for sale followed its usual cyclical pattern. For most of the year, slower sales meant buyers enjoyed having more inventory to choose from, as we moved toward, but not yet into, a more balanced market.
2019 was clearly a transition year for the Fort Collins real estate market. We’ve moved into quieter times. For now, the buying frenzy of the last several years has abated, as the consequent prices increases from supply/demand imbalances discouraged buyers more effectively than previous inventory shortages. We’ve been left with a structural problem - a lack of affordable housing - that is changing the character of the market, and, in the long-run, perhaps the nature of our community. But with a strong regional economy, we still have the capability, and hopefully the will, to address this issue. 2020 will be an interesting year, with external economic and other issues potentially playing a larger role locally.