Sales:

Home sales declined in Fort Collins CO in November 2024. There were 149 homes sold, down 22.8% from the 193 homes sold in October 2024, but up 17.3% from the 127 homes sold in November 2023. Year to date sales of 1,858 homes are down 0.6% from last year’s 1,869 sales for the same period.

Prices:

Home prices were mixed during November 2024. The median price of homes sold fell to $587K, down 6.7% from $629K in October 2024, while the average price rose 3.1% to $732K from $710K 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 we expect for the season, the inventory of homes for sale in Fort Collins CO declined in November 2024 - there were 413 homes on the market at the end of the month, down 17.6% from 501 homes for sale at the end of October 2024. The Month’s Supply of Inventory (MSI) rose to 2.8 months from 2.6 months in October 2024.

Sales Price vs. List Price:

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

Summary:

There haven’t been any real surprises from Northern Colorado’s real estate market – activity remains at low levels, partly because it’s a typically slow season for home sales, but also because of a general feeling of uncertainty about the future of the economy. There are still homes being bought and sold, but there isn’t a lot of energy or enthusiasm. And these factors aren’t unique to our region – nationally, we’re seeing the lowest level of home sales in the last 30 years, as well as the lowest participation of first-time home buyers in the last 43 years.

It's going to take until the Spring of 2025 at the earliest before we could see some clarity begin to emerge regarding the future direction of the economy, so until then, we can expect the market to show little change from its current behavior. You can be sure, though, that we’ll be keeping a very close eye on what’s happening, and we’ll let you know what we’re seeing as soon as it happens. 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.