This is the February 2020 Real Estate Market Report for Fort Collins CO
2020 got off to a slow start in Fort Collins, as expected for the season. There were 132 home sales in January 2020, a drop of 42% from the 227 sales in December 2019, but a 21% gain from the 109 sales in January 2019. January, as can be seen in the chart, is traditionally the slowest month of the year.
Home prices didn’t move much in January 2020. The median price rose to $423K from $422K in December 2019, and the average price rose to $478K from $461K in October 2019, a gain of 9.6%. The long-term trend line for both indicators show prices continuing to move in an upward direction.
Also as expected, the inventory of homes for sale continued its seasonal decline. There were 341 homes on the market at the end of January 2020, a drop of 9.4% from the 376 homes for sale at the end of December. The Month’s Supply of Inventory (MSI) rose to 2.6 months, as sales declined more than inventory.
here never is much to say about the real estate market in the dead of winter. There just isn’t much happening, and there are very few reliable indicators to suggest future market trends. But structurally, we don’t see any indications - yet - of any significant change from what the market has done over the last couple of years. So we’re expecting a slow and steady increase in prices, with sales maintaining the previous slower pace, and continuing difficulty for affordable home buyers.