This is the December 2019 Real Estate Market Update for Fort Collins CO
Home sales in Fort Collins continued their expected decline as we settle into our slowest season. There were 209 sales in November 2019, a decline of 9.6% from the 229 sold in October 2019, and 2.9% less than the 215 sales in November 2018. 2019 year-to-date home sales of 2,536 are down 3.9% from the 2,637 sales for the same period last year.
Home prices fell in November 2019. The median price dropped to $410K from $416K in October 2019, and the average price dropped to $445K from $475K in October 2019. The long-term trend line for both indicators show prices winding up very close to where they started the year.
The inventory of homes for sale declined as well. There were 493 homes on the market at the end of November, a drop of 13.4% from the 559 homes for sale at the end of October. The Month’s Supply of Inventory (MSI) held at 2.4 months, as sales and inventory declines were evenly matched.
As is common for this time of year, there just isn’t much of significance happening in the Fort Collins real estate market. We expect sales and inventory to decline, and prices usually vary more or less randomly on a month-to-month basis. We watch carefully, but seldom find significant local clues about the future of the market during this time. So while we wait for a more vibrant market that we can get all analytical about, we’re happy to have this opportunity to wish you all a very
Merry Christmas and a Happy New Year!