Market Stats

The average sales price for Fort Collins increased by over 12% in 2022.  With over a 16% increase in sales price in 2021, this is reassuring that the value of your home and investment is staying firm, despite the narrative being presented in the news. 

The market is balancing for Fort Collins, and while inventory grew in 2022 to a 1.4-month supply, up from 0.5 months’ supply in 2021, buyer demand has remained strong.  Most experts agree that a balanced market for buyers and sellers is a minimum of 4 months’ supply. 

No matter how the housing market changes, there are some things about owning a home that never change—like the personal benefits it can provide. When you own your home, you likely feel a sense of attachment because of the comfort it gives and also because it’s a space that’s truly yours.
Over the last few years, we’ve fully embraced the meaning of our homes as we spent more time than ever in them. As a result, the emotional benefits our homes provide have become even more important to us.
As the most recent State of the American Homeowner from Unison puts it:

“. . . one thing has stayed the same: the home continues to be of the utmost importance and a place of security and comfort.”

The same study from Unison notes:
91% of homeowners say they feel secure, stable, or successful owning a home
64% of American homeowners say living through a pandemic has made their home more important to them than ever.

We would love to be your resource in your real estate journey. Contact us today!

Warm wishes,
Angie & Brian

INTEREST RATE UPDATES

When could interest rates drop and stabilize? The Fed and other experts are estimating sometime this spring.

Buyers, your hands are not tied. Waiting until interest rates drop may not be the best strategy for you. Now, buyers have more negotiating power than in the last three years (and five years in our hottest Front Range markets). But this is only a window of opportunity. When interest rates drop and stabilize, the competition/demand will return. Talk with your RE/MAX Alliance Agent about your local market as soon as possible to stay updated on how these shifts impact the neighborhoods/communities you are searching.

Sellers, start working with your RE/MAX Alliance agent on a game plan. Now is a great time to make home improvements/remodeling that will boost your home’s value and appeal to buyers. When a home is priced right, presented well, and in a desirable location, we still see multiple offers!

Sources: bea.gov, federalreserve.gov, freddiemac.com, tradingeconomics.com, ismworld.com, sifma.org, freddiemac.gov, conference-board.org, zillow.com

Spotlighting better views
Twenty percent of renovating homeowners are making kitchens more open to the outdoors.

Sustainability features
Trendy, environmentally-friendly updates include LED bulbs, energy-efficient appliances, water-efficient fixtures and energy-efficient windows.

Changing up the style
More than four in five homeowners say they changed the style of their kitchens during their renovation.

Wood tones
White cabinets remain the most popular choice in renovated kitchens (40%), followed by wood-toned cabinets, which posted a three percentage point gain to 24%, according to the Houzz survey.