According to the Fort Collins Board of Realtors:
“New Listings were down 20.6 percent for single family homes and 26.2 percent for townhouse-condo properties. Pending Sales landed at 234 for single family homes and 57 for townhouse-condo properties.
The Median Sales Price was up 3.6 percent to $575,000 for single family homes and 3.9 percent to $385,000 for townhouse-condo properties. Days on Market decreased 4.1 percent for single family homes and 41.9 percent for townhouse-condo properties.
Inflation, higher interest rates, and fears of a potential recession have taken a toll on buyers and sellers this summer, leading many people to stay on the sidelines to see what will happen with the market. But some experts, including NAR Chief Economist Lawrence Yun, believe the worst of inflation may be over. Although sales prices remain up from this time last year, price growth is expected to moderate in the months ahead as the market continues to shift in a more buyer-friendly direction.”
For more news and a complete review of the latest housing statistics and information compiled by the Fort Collins Board of Realtors click this link and download the full report.
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