At our weekly meeting this morning, we got to hear a presentation on the housing market in Northern Colorado by Doug Dodds of RE/MAX Alliance and the Empire Real Estate School. I would love to share with my readers some of the statistics.
What is “median” price? Realtor.com describes it as the point in the middle of all houses sold. So half are under the median and half are over the median. It is not the “average” price. We can see that the median price for detached homes sold in 2017 in Fort Collins is $395,000.
Here is the market share for those home sales in Fort Collins:
You will see that most homes in our market are selling from $300k-400k. If you are a seller then this is great news for you if your house is priced at this point. Our inventory of homes is very low at this price-point and homes do not last on the market for long. If you are seller at a different price point, then it will take a bit more clever marketing and staging/renovation-repair to sell your house in a shorter time-frame. One of the things I love best about working for RE/MAX is our huge network of realtors that we can pitch too. Often deals are made before houses even hit the market. For buyers in that median price-range, you might come across multiple-offer scenarios. Personally, my family was in this price range and we had to bid on 5 houses before we got our home. It is a very competitive market. Again, having the huge network of RE/MAX realtors means that I can put out buyer need requests to my colleagues to get you something quickly.
A meeting with me to talk about your needs is always free. I am a people-person and love to help! Give me a call today.