Fort Collins CO home sales declined in July, down 9.7% to 319 sales from 350 in June 2021, and down 5.9% from 338 sales in July 2020. Year-to-date sales, however, are up 16.3% over last year, with 1788 homes sold so far in 2021, compared to 1538 by the end of July 2020.

Prices:

The inventory of homes for sale in Fort Collins rose for the third month in a row, but levels are still well below what we normally see. There were 197 homes for sale at the end of July, up 21.6% over June 2021’s 162 homes for sale. The Month’s Supply of Inventory (MSI) rose to 0.6 months, with sales down and inventory up.

Inventory:

The inventory of homes for sale in Fort Collins rose for the third month in a row, but levels are still well below what we normally see. There were 197 homes for sale at the end of July, up 21.6% over June 2021’s 162 homes for sale. The Month’s Supply of Inventory (MSI) rose to 0.6 months, with sales down and inventory up.

Summary:

There is a lot going on in the Northern Colorado real estate market. A good part of it boils down to supply and demand. For several months, with the pandemic apparently lessening, it seemed like a hot market, as buyers competed for the few homes that were available. But as inventory rose somewhat, the market has slowed. It seems that the actual buyer pool, as well as inventory, was lower than normal, and perhaps some of the buyers that were in the market originally had their interest cooled by strong competition and rapidly rising prices. And with the pandemic threat still present, general uncertainty about where things might go, and when something like normality might return, psychological factors are most likely to determine how the coming months play out. This is where our reliance on analytical tools just doesn’t help much - we’re in uncharted waters and while we can tell you what happened, and somehat why, we’re all reduced to waiting to see what comes next.