Soaring home prices in Colorado! May 2014 yielded 18 transactions for single family home purchases, resulting in an average sales price of $437,000. That is $112,000 higher than the sales price during May 2013, which averaged $325,000. The rising demand can be reflected by the following: the number of homes priced over $400,000 has doubled in the last 12 months from 5 in May 2013, to 10 in May 2014. Buyers are generally taking longer to purchase homes, granted buyers in May 2014 spent nearly 35% more than buyers in May 2013. An Old Town home listed by Anne Marie in 2001, for $285,000 is now listed for $1.25M. That is a 438% increase over 13 years! Despite the increase in average prices, buyer demand continues to increase, Old Town Fort Collins continues to be among the nation’s most desirable areas to reside.
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