Sales: 

Home sales were up in Fort Collins CO during December 2024. There were 184 home sales, up 23.5% from the 149 sales in November 2024, and up 48.4% from the 124 homes sold in November 2023. 2024 yearly sales of 2,042 homes were up 2.5% from 2023’s 1,993 yearly sales.

Prices:

Home prices were mixed during December 2024. The median price of homes sold rose to $595K, up 1.3% from $587K in November 2024, while the average price fell 8.2% to $672K from $732K for the same period. Please keep in mind that these results reflect only those specific homes sold during the month and are therefore subject to random variations.

Inventory:

As is typical for this time of year, the inventory of homes for sale in Fort Collins CO declined in December 2024 - there were 306 homes on the market at the end of the month, down 34.9% from 413 homes for sale at the end of November 2024. The Month’s Supply of Inventory (MSI) fell to 1.7 months from 2.8 months in November 2024.

Sales Price vs. List Price:
 

In November 2024, homes in Fort Collins CO sold for 98.0% of asking price, down from 98.2 in October 2024.

Summary:

The 2024 Northern Colorado real estate market followed the prevailing economic trends, rather than setting them. High interest rates, inflation fears, and uncertainty about future economic stability all had a dampening effect on market activity. It was by no means a bad year for real estate though, and while it may have lacked the energy and enthusiasm of previous booms, it also marked some gradual improvement from the recent past.

For the foreseeable future, the real estate market is likely to remain in a reactionary mode, with buyers’ and sellers’ interest in real estate activity responding to anticipated as well as actual changes in the economic, social and political environment. And as much as we’d like to provide a clear forecast of what to expect, we can’t offer anything much better than the old Magic 8 Ball could.

What we can do is to keep a close watch on the real estate market as it reacts, and report back to you in a timely and accurate manner about what we’re seeing. And as we gain some clarity, we’ll be here to share it with you. And in the meantime, we’re always available to talk – give us a call if you have questions or just want to chat about the market.