Midway into Q1 of 2020 it is safe to say that sellers in northern Colorado no longer have “carte blanche”. But neither do buyers. Current metrics are showing a relatively balanced market as we head into the most active buying season. A well presented listing in a good location that is properly priced is still likely to go under contract quickly in Fort Collins. And such listings may still even see multiple offers. However, Buyer are less tolerant than in the past with clearly overpriced properties. Price reductions are becoming more common.
The double digit price increases of years past disappeared at 2019— the median price for single family homes saw a 3.4 % increase. And the median price for attached dwellings declined slightly— by 0.2%— after multiple years of double digit increases.
Inventory is still low in 2020. As new listings are added, they are often being put under contract quickly. A predicted increase in new construction could help reduce some of the chronic low inventory. The Fort Collins Board of Realtors predicts Buyer activity to remain healthy in 2020.