This is the March 2020 Real Estate Market Update for Fort Collins CO

 

Sales:

 Fort Collins CO Real Estate Sales March 2020

Home sales appear to have started their seasonal upswing, with 161 homes sold in February 2020, an increase of 22.0% over the 132 homes sold in January 2020, and gain of 3.2% over the 156 homes sold in February 2019.

 

Prices:

 Fort Collins CO Real Estate Prices March 2020

There was little movement in Fort Collins CO home prices in February 2020, with the median price dropping 1.2% to $418K from $423k in January 2020, and the average price dropping 1.4% from $423K to $418K in the same period. There is little significance in these changes, as they represent the prices of the specific homes sold each month and tend to vary randomly.

 

Inventory:

 Fort Collins CO Real Estate Inventory March 2020

It is still a bit early to see the seasonal rise in inventory that we expect in the spring. There were 319 homes for sale at the end of February 2020, a drop of 6.9% from the 341 homes for sale at the end of January. The Month’s Supply of Inventory (MSI) fell to 2.0 months, as sales grew and inventory fell.

 

Summary:

We are starting to see some early indications that the real estate market is wakening from its winter slumber. Sales were up - fairly typical for a February result - with prices dropping slightly and inventory down, all pretty much as expected. Looking ahead, we expect that the usual market drivers for the next several months, which generally show the market moving in a positive direction, may be moderated somewhat by economic impacts occurring from COVID-19, locally, nationally and world-wide, but it’s still too early to get a feel for the magnitude of that effect. We should know more by this time next month.