As a new year begins, it is nice to reflect of the past year and some Real Estate trends and data in Old Town Fort Collins. Old Town saw an increase in all numbers on a year over year average and overall, 2015 was more active in terms of number of sales, average price, median price, and total sales volume as opposed to 2014.
Here are the comparison numbers from 2014 to 2015 in Old Town Fort Collins:
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Active inventory remained stagnant from October to November of 2015. There are only 18 listings currently active as compared to the 20 active at the same time last month. Unfortunately, many of these active listings are the same ones that were present in October. Prices have remained fairly stable over the past month with many listings receiving price adjustments as opposed to competing offers.
Here is the breakdown of sold homes in November 2014 vs. 2015
November 2014: 7 total sold with a median price of $352,000
November 2015: 10 total sold with median price of $412,500
There continues to be a shortage of active Old Town inventory, especially below $400K. At the moment, there are only 3 single family homes and one condo available under $400k. The remaining higher priced inventory is a mix of homes listed months ago, and proposed new builds that will not be completed until the summer of 2016.
There are 9 properties currently under contract for less than $400K, and a majority of these listings spent more than 2 weeks active prior to receiving and offer. This is highly due to the decrease in buyer activity during the fall as well as aggressive initial pricing.
Only 6 homes sold in October of 2015 with a majority of these homes receiving price adjustments prior to going under contract. The nicest listing that sold in October
*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.
Current inventory in Old Town Fort Collins is limited, especially in and around the current median price range of $320,000. There are currently 18 active listings, however, most of these listings are priced substantially above the Old Town median home price, are located in less desirable locations on busy streets, or will need work to make them move in ready.
There are quite a few very nice listings currently active in Old Town, and while they are priced above the median sales price, they are not necessarily overpriced. Quite a few of these homes are in move in ready condition and in very desirable locations, but are listed at a slower period of the year when less buy
Following the holiday season of July 4, there has been a noted decrease in listing activity in Old Town. There were only 14 homes listed in all of July 2015, compared to 26 homes listed in the previous month. In fact, a portion of the current active inventory in Old Town consists of homes and...