May 28, 2022

KMCKrell

Taste the Home & Environment

House rates strike record highs in 2022

If we’re sounding like a broken record when it comes to home costs, we get it. Each month, each and every quarter provides a refreshing round of panic for would-be homebuyers in Northern Colorado.

The initial two months of 2022 usually are not any unique. 

Fort Collins’ median one-family members residence price ranges hit history highs once more heading in to the hectic spring and summer season shopping for season. Median gross sales price topped $600,000, a 23% rate bounce when compared with the very same time a year ago and an 11% increase from the close of 2021. 

It really is a gorgeous rate looking at Fort Collins ended previous calendar year with a median house price  of $540,000.

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This year’s median cost will come from only two months’ well worth of knowledge centered on 261 closed sales so much, so it really is achievable that it will drop a little as additional income are recorded. If rates appear down, it will not be by substantially, said Eric Thompson, president of Windermere Serious Estate in Fort Collins: “$600,000-plus prices in Fort Collins are unquestionably right here to remain,” he explained.

Of the 77 household qualities at this time for sale with a Fort Collins handle, only 26 of them (34%) are priced under $600,000, he claimed. 

Signs for housing developments located on the east side of I-25 along East Prospect Road in Fort Collins are pictured on Sept. 16.

And don’t glimpse for any aid this 12 months. “Based mostly on present-day offer and need, we anticipate rates will go on to enhance in the course of the total year,” Thompson mentioned. 

In Larimer County, only Wellington and Johnstown have median dwelling costs underneath $500,000, and Johnstown is kissing the 50 percent a million mark at $494,000. Wellington, which observed median property selling prices under $400,000 at the conclusion of 2020, now has a $463,000 median cost.