This is the March 2019 Real Estate Market Report for Fort Collins CO
Fort Collins CO home sales rose significantly in February 2019. There were 156 homes sold, an increase of 43% from the 109 homes sold in January 2019, and a sign that pent-up demand from the slower fall/winter season may provide a nice boost to spring sales.
Home prices also rose in February 2019. Median price gained 2.3% over January’s $400K, finishing the month at $409K, and average price rose 13.9% to $508K from $446K in January. These numbers reflect the prices of only those homes sold during the month, and do tend to vary somewhat randomly, but they represent a promising return to an upward pointing trend line for home values.
The inventory of homes for sale fell in February, dropping 4.5%, to 358 homes on the market, from the 374 available at the end of January. But given the high sales numbers for the month, they still show a respectable number of homes entering the market. The Month’s Supply of Inventory (MSI) fell to 2.3 months, which puts Fort Collins back in seller’s market territory.
With sales and price numbers moving up, and inventory showing some growth as well, February’s numbers are looking a lot better than last month’s. But winter isn’t a great time to make market predictions, and it’s still pretty chilly out there. We are seeing some signs of the market awakening from it’s seasonal slumber, and we’re naturally positive about the housing market, given the region’s economic strength. The next two months will tell us a lot more about what’s ahead for 2019 - we’ll be watching closely and will keep you informed.