Sales:

There were 187 home sales in Fort Collins CO in April 2024, up 17.6% from the 159 homes sold in March 2024, and up 8.1% from the 173 homes sold in April 2023. Year to date sales of 567 homes are down 1.9% from last year’s 578 sales for the same period.

Prices:

Home prices were mixed in April 2024. The median price of homes sold during the month was unchanged from $628K in March 2024, while the average price rose 3.3% to $724K from $701K for the same period. Once again, there is nothing to suggest that these results are due to anything more than random fluctuations in the specific homes sold during the month.

Inventory:

The available inventory of homes for sale in Fort Collins CO increased again - there were 379 homes on the market at the end of April 2024, a gain of 20.7% from 314 homes for sale at the end of March 2024. The Month’s Supply of Inventory (MSI) held steady at 2.0 months.

Sales Price vs. List Price:

In March 2024, homes in Fort Collins CO sold for 99.9% of asking price, up from March 2024’s 98.7%.

Summary:

While the northern Colorado real estate market is becoming more active as we move into the spring season, there doesn’t seem to be anything to become either concerned or excited about. Sales are moving upward, home prices are generally stable, and inventory is rising – all as would be expected for the season. But the real estate market hasn’t yet picked up any momentum. While parts of the economy are showing signs of strength, interest rates remain high and there is still quite a bit of uncertainty about where we’re headed. So until we get a better feel for that, we’re probably not going to see much change from where we are at the moment – slow but steady activity.

We’ll be keeping a close eye on the market, and we’ll let you know what we’re seeing as things happen. In the meantime, if you have questions or just want to chat about what’s going on, please give us a call. We’d love to talk to you.