What Real Estate Looked Like in Fort Collins, CO for 2021

Real Estate has been an important topic the past few years as we watched interest rates drop and home prices grow. Here I am sharing year-end stats for the areas that include Fort Collins, Bellvue, Timnath, Wellington, Red Feather Lakes area (provided by RE/MAX Alliance.)

As you read this information, you’ll quickly see that Fort Collins is a growing, thriving community. Fort Collins’ notoriety has grown with the many awards it has earned in recent years. It has been lauded in national polls for, among other things, outdoor recreational opportunities including a golfer’s regional paradise, moderate cost of living, benefits for retirees, and economic diversity keeping the economy stable. CNN Money Magazine has selected Fort Collins as the #1, #2, and #6 Best Place To Live In America. Other reasons for our growth and success include a highly skilled workforce, an outstanding climate with the overall quality of life difficult to find anywhere else in the country.

For starters, let's look at this chart showing growth in both median and average sale prices of homes. The yellow lines show the median and average price trends. When you see the blue and red lines (actual sale prices) follow the trend line, it indicates a balanced market. This chart shows price trends beginning 1982 up to 2021. However, median price data was not available until 1998. Take note of the sharp increase starting in 2019 when the median and average price began to jump quite a bit ahead of the average and median price trend line.

The chart below compiles 40 years of historical sales data. The far-right column shows how average home sale prices changed from the prior year. In 2021 we saw the sharpest increase of 10.30% over 2020. That is the second-highest since 1994, which saw a rise of 18.50% from the prior year. Since 1981 Fort Collins has only seen average prices drop twice, in 2008 and 2009. It was not a good time for real estate or the overall economy if any of you remember. It was also a time to correct bad lending practices. This chart reflects the strong growth Fort Collins has always experienced on a consistent level.

The chart below can give homeowners a good indication of the best time to sell. If homes closed in June, a 40-day close would mean they were listed in late April-May.

And last, this graph shows you the median price of detached homes in cities across the front range.

The one constant we know about real estate is that it is always changing. What 2022 holds is yet to be seen, but we are looking to move to a more balanced market, still a seller's market but with more homes being listed daily, it will loosen up the high demand from buyers having few choices.

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