Fort Collins Real Estate – Average Sale Price
A recent article in the Coloradoan newspaper highlighted the growing average price that homes are selling for in Fort Collins and some of the surrounding areas. Yep. It’s true. Prices have been rising for years.
Fort Collins, Loveland, Greeley, Windsor
Average sale prices as compiled and calculated by *Northern Colorado’s Multiple Listing Service, IRES, and *Infosparks.
Here is the same data, expressed in bar graph.
There is no doubt, the number is going up.
Barring some sort of local, national or international catastrophe, I expect values to hold steady, or continue to rise. Interest rates have gone up recently, but they are going up from all time historic lows. So, there really is no other way for them to go but up.
Short story shorter? If you have been thinking about purchasing real estate and are in a position to do so, it might not get much cheaper than it is now. Pull the trigger. I’d love to help.
Northern Colorado over-delivers
The reason why I think property values will hold steady or grow is because the prices seem to have been catching up with the actual value of the area. The cost could be going up because the world is just starting to discover and realize the value of this area. Over the last handful of years, there has been an influx of people. The population is increasing and is projected to continue that trend.
Here is what could be happening—people move here for a better quality of life, and the area over-delivers. It’s better than they thought it would be. For those of you that grew up here and are shocked at how many people want to live here, well, you might not be able to see the forest for the trees. If Fort Collins is all you’ve known, you may not understand how great it is compared to…frankly, most places in the country and world. As a person who has known what it’s like to live in other places, I can tell you, Northern Colorado is head and shoulders above so many other locales on this little globe in terms of climate, infrastructure, culture, opportunity, recreation and more. It’s exquisite. Comparatively exquisite. It’s not for everyone, to be sure. But if you can handle some cold, and you’re into the mountains, music, and the other things we have here, it is, to borrow the old city slogan, truly a Choice City.
Analyze Numbers Critically
If you’ve gotten a thank you card from me recently, you’ll see a little piece of data on it that looks like this:
The actual numbers on my thank you cards are even lower. Why? Well, because those were calculated using MEDIAN values, as opposed to AVERAGE values. Also, I ran those numbers earlier in the year, when average and median prices were lower.
The thing to keep in mind when reading this post, or any post, or looking at anything on the Internet is that your critical thinking skills need to be brought to bear on the information. You need to keep in mind that maybe there were a larger number of higher priced homes sold very recently that are skewing today’s numbers. You need to keep in mind that this data looks at one aspect, and real estate is a complex thing.
Just because the average price is now over $400,000 in Fort Collins, it doesn’t mean that there aren’t any homes in the area that cost $275,000.
Numbers Should Be Used to Understand Trends
Trends are indicators. They are not empirical rules. Use this data and any other information you glean to your advantage by allowing it to teach you what you don’t know, and to come up with questions on things that you need to know more about.
- If the average price is $400,000, can I buy something cheaper? YES!
- If the average price is going up, will I be able to find a great deal? If you approach it properly, YES!
I’d love to be of service as your Colorado Realtor®. I will listen to you. I have time for you. I would love to work with you!
*This article is for educational and entertainment purposes and does not refer to any specific people or deals in progress. For more intensive information, contact me or another trusted professional in the appropriate field.