Colorado Real Estate Market Shift – Are We On Our Way To A Buyers’ Market?
Experts opining that Fort Collins real estate market could shift toward the buyers’ favor over the next couple of years.
What goes up must come down. That which waxes, eventually wanes. It’s been a sellers’ market in Colorado for the recent past. Will the tides shift anytime soon?
Well, I can tell you what I’ve heard around the water cooler. Please keep in mind that this is simply a paraphrasing of conversation. It is conversation with long time real estate professionals who have ridden swells and waves of buyers’ markets, sellers’ markets and dead markets since Reaganomics was the law of the land.
The loose prediction that I heard last week was that 2019 will continue to be a sellers’ market. 2020 will see the beginning of a shift to a market with more equilibrium. Toward the end of 2020, and into 2021, the shift could be made to an actual buyers’ market.
SELLER’S MARKET : a market in which goods are scarce, buyers have a limited range of choice, and prices are high — compare buyer’s market
If it becomes a buyers’ market, what a difference it would be! As it is, many buyers in the Fort Collins real estate market are competing in multiple offer situations. The prices that for resale homes seem very high. And many sellers are receiving their asking price.
Consider the chart below. Now, look closely at the Y-Axis (vertical axis). If homes are selling below the listing price, it’s by a percent or a fraction of a percent. Sellers’ markets are characterized by the seller being able to receive the price they want. That’s been the case in Fort Collins real estate for a while.
Are we going to see that change?
COOL FEATURE! Scroll over or tap chart lines for time specific data boxes to enhance this interactive experience!
Data compiled and formatted by Infosparks. I access this service through our multiple listing service, IRES
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