Today I’m going to break into a brief comparison of the past 6 months of Old Town Fort Collins homes that have sold versus the same 6 months in 2011. I’ve been working with a handful of buyers seeking to find a home in Old Town and it’s been a bit of a frustrating experience, especially if you’ve been watching the market through this transition and started your search at the end of last year. What the numbers basically boil down to is a big jump in demand and a significant rise in the median price of a home in the Old Town Fort Collins area.
I’m comparing 2/13/11 thru 8/13/11 with 2/13/12 thru 8/13/12.
|# Sales||Total Volume||High Sale||Low Price||Average Price||Median Price||ADOM/ACDOM|
What this means for buyers
In my opinion the most important factor for a buyer seeking a home in Old Town right now is realistic expectations. If you were looking for a home in 2011, 50% of all the available inventory sold between $183,000 and $290,000. In 2012, 50% of the available inventory sold between $210,000 and $320,000. This means buyers who want to find a home for sale in Old Town Fort Collins will either need to adjust their price window upward or lower their criteria for sqft, bedrooms, baths, etc.