Despite the shock wave that Covid 19 unleashed beginning in March of 2020, the housing market— both locally and nationally— remains strong as we wrap up 2020 and set our sights on 2021. This strength is driven by the familiar dual influences of very low interest rates and very low inventory in our area.
Here in Northern Colorado, new listings and pending sales are currently down. Nonetheless, with cheap money available more buyers are looking for homes, especially first time buyers. And consequently it is still possible to see multiple offers on properly priced homes.
For November 2020 as compared to November 2019, the Median Sales Price was up 7.4% to $443,750 for single family homes and 7.7% to $320,000 for townhouse-condo properties in Fort Collins. According to the Fort Collins Board or Realtors, “Showing activity remains higher than the same period a year ago across most of the country, suggesting that strong buyer demand is likely to continue into what is typically the slowest time of year. With inventory remaining constrained in most market segments, sellers continue to benefit from the tight market conditions.”