Despite the shock wave that Covid 19 unleashed beginning in March of 2020, the housing market— both locally and nationally— remains incredibly strong in 2021. This strength is driven by the familiar dual influences of very low interest rates and very low inventory in our area, and throughout the country.
Here in Northern Colorado, new listings and pending sales are currently down. Nonetheless, with cheap money still available more buyers are looking for homes, especially first time buyers. And consequently multiple offers on properly priced homes is still the norm, with prices often being bid up by 10%-15%.
For July 2021 as compared to July 2020, the median sales price in Fort Collins was at $540,000 for single family homes, a 24.1% increase. The median price for townhouse-condo properties was $348,500 year over year, an 8% increase.