Fort Collins, Colorado is a wonderful place to call home, and for the majority of hopeful future homeowners looking into the Northern Colorado region, this can be quite the task. At LC Home, it is our job to help you find the best possible property to call your own in the Fort Collins area. But as the calendar turns over from the Winter of 2018 to the Spring of 2019, the experts at LC Home have come up with a list of 4 things that you need to know about the home real estate market in Fort Collins as it currently stands and as we move into the future.
1. The homes in the Fort Collins area are almost always selling for more than their listing price.
You may have read or heard that due to a downward trend in the stock market that housing prices throughout the Northern Colorado region have stagnated, or temporarily plateaued, creating wonderful real estate opportunities heading in to the Spring of 2019. While this is true, it is because this is true that most Fort Collins homes are selling for much more than their initial listing price. The experts at LC Home have noticed an abundance of investors trying to take advantage of the temporarily stagnated prices of the homes in Fort Collins, and oftentimes, such investors enter into bidding wars with one another over high-end, highly-desired properties. The result, of course, are that some homes in the Fort Collins area are still selling as if there was never a downward spiral in the stock market, lifting their overall price typically beyond what the potential person seeking a permanent residence in Fort Collins is willing to pay. The good news here, however, is that not all homes in Fort Collins are in such affluent areas, making the houses in much more rural and established areas affordable to the potential homebuyer. At LC Home, we can help you find the perfect home in Fort Collins for a price that isn’t much more than the initial listing price.
2. At the onset of Spring 2019, the average Fort Collins home is listed at $388,200.
Of course, this figure doesn’t account for the area of the city the home is in, or the countless variety of floorplans and overall square footage that can be found throughout different homes in the Northern Colorado region. The figure above was generated by averaging the listing cost of all properties throughout Fort Collins, Colorado. Realistically, there are areas of Fort Collins where the initial listing price is in the low 300s, as well as areas of Fort Collins where the initial listing price is over 1 million dollars. At LC Home, we can help you build a reasonable and manageable budget for purchasing a Fort Collins home, but a good starting point or starting floor for purchasing a home in Fort Collins would probably be $300,000.
3. There aren’t a great number of Fort Collins homes for sale in comparison to surrounding Northern Colorado cities.
At LC Home, we’ve noticed that the majority of properties that are being sold in Fort Collins tend to be either brand-new homes that were recently constructed and typically start at a listing floor of $400,000 (and remember, Fort Collins homes sell for more than their listing price) or other recently built high-end, affluent homes. In both cases, it is generally investors purchasing such properties. Very few older, more established rural homes are hitting the market in Fort Collins during the Spring of 2019, and at LC Home, we project this to change as the stock market rebounds from an unfortunate 2018 winter season. The Fort Collins area is continuing to grow and appreciate in value for this momentary hiccup to hold true. Look for more affordable Fort Collins homes to hit the real estate market during the Summer and Fall of 2019.
4. Fort Collins home values will continue to appreciate despite any future “housing crash” you may have heard about.
It held true during the “housing crash” of 2008, and if another “housing crash” occurs, it will hold true again. Northern Colorado exists in one of the nation’s only economically-safe and continuously growing regions across the United States, and Fort Collins is at the heart of it. At LC Home, our advice is to not let any potential “housing crash” scare you away from purchasing a home. No matter what, your Fort Collins home will continue to appreciate and gain value over time.
At LC Home, our experts would like to help you discover your next home in the Fort Collins area. Give us a call today!