Fort Collins ranks as number 17 in Smart Assets Top 20 Best Cities to Sell a House 2018.
Smart Asset looked at the data of the top 165 largest cities and used these criteria:
- 5-year change in median home value. This is the percent change in median home values from 2012 – 2016. Data comes from the Census Bureau’s 2012 and 2016 5-year American Community Survey.
- Average number of days on the market. This is the average number of days a home is on the market before it is sold. Data comes from SmartAsset’s 2018 healthiest housing markets study.
- Percent of homes sold for a loss. This is the percentage of homes sold for a price lower than the previous sale price. Data comes from SmartAsset’s 2018 healthiest housing markets study.
- Closing costs. This is the average closing costs by city. Data comes from SmartAsset’s 2017 places with the lowest closing costs study.
- Real estate offices per 1,000 residents. This is the number of real estate offices per 1,000 residents. Data comes from the Census Bureau’s 2015 County Business Patterns Survey.
As we have seen in the past 5 years, house prices have steadily increased in Fort Collins. A lack of inventory and high demand due to low unemployment means that prices will continue on a upward trend.
The above graph from Fort Collins Board of Realtors shows the inventory supply from 2010-18. For several years after the Great Recession, we saw that there were very few new housing developments being built. Also, inventory was higher due to more people needing to sell during this period but less buyers.
Another point to remember is that not every price-range is a seller’s market. Buyers definitely have more choices with inventory at price ranges above $450,000. If you are selling at or above this price range then it is necessary to set your selling price at the correct price. If you price too highly, then you will not have as many buyers looking at your property and your property may sit on the market for longer. If you price accurately then it should sell if it is in good condition.
Above is the supply of residential detached housing in Fort Collins for February 2018. In the column “supply in months” you will essentially see how long that price range of houses takes to sell by a licensed realtor (figures are taken from the MLS).
I have completed a certificate course from the National Association of Realtors in how to price properties accurately (as an appraiser would). The PSA Pricing Strategy Designation means that I can help you accurately price your property for a worry-free sale and also means that I can help buyers assess if the property they wish to buy is priced accurately.
Please contact me for a free consultation…I am here to be your advocate in real estate in Fort Collins and Northern Colorado.