Northern Colorado is a great place to live but it’s also a popular place to live. We have a low unemployment rate and 300 days of sunshine (not to mention easy access to the Rockies and a great system of trails for biking and hiking). When looking for a home, your expectations can be set by looking at current absorption rates. This is a chart of how many homes are on the market at a particular point in time, how many have sold, and how many months supply are there. If you see less then a 3 month supply then it is a seller’s market in that price range. If you see 1 or 0 months supply, then you know there are more buyers than houses in that price range and that you will be competing against others in a possible multiple offer scenario (where you want to offer your highest and best price…sometimes cash is king here). When the supply is above 5-6 months, then it is a buyer’s market…yippee! You have more choices and can make a more competitive offer. Here are the current rates for Fort Collins for detached and attached homes. If you are looking for another area, please contact me. I’d be happy to send you that info.
So in the popular $300-350,000 price range there were 15 active listings for detached homes in Fort Collins, and a 0 month supply. That means houses are selling as soon they are listed if they are priced at market value and there are usually multiple offers. There are simply more buyers than there are houses. With $1million-plus homes there are 47 listings and a 11 month supply; lots of choices for this buyer and we can be competitive in offers. Below is for attached homes.
Windsor is very close to Fort Collins and so here are the absorption rates for detached homes: