January 2016 Market Update for Rolland Moore Community

 

Karyn Kline Front Q4

 

Fourth quarter was pretty active for the Rolland Moore Park area, with 18 homes closing, however only 5 new homes came on the market.  The average sold price point for the final quarter of the year was $335,000, or $132 per square foot.  The average days on the market was 56 days, compared to the annual average of just 40 days.  You can see from the average price in Q4, though typically a slower time of year, prices continued to tick up.  The average for this area for the entire year was $309,000.  This is up about 13% from 2014′s average price of $273,000.

Historically speaking, for the last 30 years in Fort Collins, upswings in the market of over 5% appreciation have not lasted more than 4 years.  If 2016 keeps trending up, it will be our 4th year with higher than 5% appreciation.  History tells me that it likely won’t last much longer before we start going back to the more typical 3-5% annual gains.  Only time will tell.
Here is some interesting information on how the type of house can make a big difference on the price point.  Below are the 2015 averages for each type of home in the Rolland Moore Park area:
Ranch – 16 sold at an average price of $297,000
Bi-level – 7 sold at an average price of $295,000
Tri-level – 13 sold at an average price of $290,000
Four-level – 19 sold at an average price of $320,000!
Two Story – 9 sold at an average price of $346,000!
This tells me that Two Stories are the most desire-able, with Four-levels not too far behind.  Tri-levels tend to sell for the least, mostly due to the lesser square footage.  Food for thought.

*Not all properties were listed and/or sold by 8z Real Estate. This data is based on content supplied by REcolorado, IRES, PPAR, and/or MLSListings. Content is deemed reliable but not guaranteed. Content may not reflect all real estate activity in the market.

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