Real Estate Market Update

Hello everyone! It is so hard to believe that it is August and school is starting in a mere couple of weeks. I must be getting older as time just seems to go quicker and quicker.

We have had an extremely busy and fabulous summer with 47 sold since January 1, 2014. We are working hard towards our annual goal – I tend to make some crazy goals and Jenn and Erin and our staff here at RE/MAX Advanced make it possible! The market thus far has just been nuts with continued lack of inventory, multiple offer situations, quick adjustments on listing prices and some really “fun” inspection negotiations! Business slowed a bit during mid July – I predicted it would stay strong all month as in the last two years it has slowed dramatically. It seems everyone likes to vacation or take a break in July. This July was better than the last 2 but not strong the whole month. Buyers continue to be frustrated with the lack of inventory and calls to our team wondering where all the new listings are and if their automatic search is still working! It has definitely been a frustrating time for buyers but I will make another prediction that we will see things pick up again after school starts. Let’s see if I am correct!

The median price for single family residential homes in Fort Collins rose steadily from $248,000 in January to $255,750 in March and jumped in June to $290,200 dipping back down to $270K in June. The stats for July/4th quarter aren’t out quite yet so we will keep you posted. Buyers continue to drive to outer lying areas in NOCO including Wellington, Windsor, Timnath, Severance, Loveland, Johnstown & Milliken – all of which our team services. You do get a bit more for the money in these areas than in Fort Collins. It continues to be a good time to sell so please let us know how we can assist with a customized marketing plan to fit your needs!

Several exciting events coming up worth mentioning….New West Fest is next weekend – Pat Benatar is playing which is totally awesome! I grew up listening to her with two older sisters that were big fans! Should be a great time. The other BIG EVENT coming up is my annual Tour de Fat party – client & family friendly so I hope you can all join us for some crazy costumes & bike parade (which goes by my new home), dunk tank, photo booth, live music and food and beverage. Watch for your invitation in the mail!

As always – your business, referrals and satisfaction are ALWAYS our team’s goal and we very much appreciate YOU! Thanks for reading!