All the data from 2020 is in and it’s time to look back and see how Troutman Park’s Real Estate Market has performed compared to other recent years.
Back in March last year many felt like property values would decline like many other investments did through all the Covid-19 adjustments. If you own a home in the Troutman Park area you’ll probably be happy to see that we’ve actually fared quite well though.
Here are the numbers compared to other recent years:
2020 – 70 homes sold for $28,164,381. They ranged from $331,000-$507,000 at an average of $402,348
2019 – 72 homes sold for $27,749,783. They ranged from $300,000-$505,000 at an average of $385,413
2018 – 51 homes sold for $18,681,050. They ranged from $286,500-$480,000 at an average of $366,295
2017 – 56 homes sold for $19,372,269. They ranged from $257,500-$443,000 at an average of $345,933
2016 – 55 homes sold for $17,891,500. They ranged from $205,000-$436,000 at an average of $325,300
Since 2016 the average price of Troutman Park’s Real Estate has increased by almost 24%
Right now Northern Colorado is seeing serious demand for housing while supply is at an all time low which is resulting in competing offers for many properties and accelerating our appreciation rate.
To give you an idea of where we’re at Fort Collins has 91 homes on the market between $350,000-$500,000 and 78 of those are under contract leaving only 13 available for buyers to choose from (as of 2/10/2021).
Right now in all of Fort Collins there is a total of 457 residential properties that are on the market and 330 of those (72%) are under contract. The average price of those homes that are under contract is $519,884.
With interest rates around 3% buyers are able to justify paying premiums for homes that are move in ready. That combined with all of people who have become frustrated with big city living conditions/restrictions over the last year who are looking to relocate to areas like Northern Colorado means there is tremendous opportunity for anyone in our area that is thinking about selling a home this year!
If you have questions about Real Estate I’m always happy to share what I know. I grew up here in Fort Collins, I’ve worked in Real Estate since 2002 and live right here in Troutman Park so feel free to reach out if there is any way I can be of assistance.