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June 27th, 2019 by Marco Santarelli
How is The Fort Collins Real Estate Market 2019?
If you are looking at investing in the Fort Collins real estate market as a potential investment opportunity, you must read till the end. Fort Collins, Colorado sits in the foothills of the Rocky Mountains a short distance north of Denver, Colorado. While Fort Collins is becoming a de facto suburb of Denver, it has long been the main services hub of northern Colorado.
There are a number of reasons to consider investing in Fort Collins real estate. Fort Collins real estate has a track record of being one of the best long term investments in the nation. Is Fort Collins going to be one of the hottest real estate markets for investors in 2019? To answer this question, let’s take a look at the latest Fort Collins housing market trends and find out the prospects of investing in Fort Collins real estate in 2019.
Fort Collins Real Estate Market Forecasts 2019 & 2020
The median home value in Fort Collins is $390,400 on Zillow. Fort Collins home values have gone up 3.6% over the past year and Zillow’s Fort Collins real estate market prediction is that the prices will rise 2.0% in 2020. The median list price per square foot in Fort Collins is $250, which is higher than the Fort Collins Metro average of $246. The median price of homes currently listed in Fort Collins is $429,900 while the median price of homes that sold is $391,500. The median rent price in Fort Collins is $1,795, which is the same as the Fort Collins Metro median of $1,795.
According to LittleBigHomes.com, the Fort Collins real estate market forecast for the 12 months ending with the 3rd Quarter of 2019 is positive. Their accuracy of the Fort Collins real estate market trend prediction is 85%. Accordingly, they estimate that the probability for rising home prices in Fort Collins, CO is 85% during this period. If this Housing Market Forecast is correct, home prices will be higher in the 3rd Quarter of 2019 than they were in the 3rd Quarter of 2018.
Fort Collins Housing Market Forecast 2019 – 2021
The Fort Collins housing market forecast for the 3 years ending with the 3rd Quarter of 2021 is also positive. The accuracy of the Fort Collins housing market trend prediction is 79%. Accordingly, LittleBigHomes.com estimates that the probability for rising home prices in Fort Collins, CO is 79% during this period. If this Housing Market Forecast is correct, home values will be higher in the 3rd Quarter of 2021 than they were in the 3rd Quarter of 2018.
Check this page each quarter for updates to the Fort Collins, Colorado Real Estate Forecast.
Fort Collins Real Estate Market Trends
Fort Collins real estate market trends indicate an increase of $8,500 (2%) in median home sales and a -1% drop in median rent per month over the past year. The average price per square foot for this same period rose to $260, up from $247. Trulia has 811 resale and new homes for sale in Fort Collins, CO, including open houses, and homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process.
The median sales price for homes in Fort Collins for Mar 13 to Jun 12 was $398,500 based on 641 home sales. Average price per square foot for Fort Collins was $260, an increase of 5% compared to the same period last year. The median rent per month for apartments in Fort Collins for May 17 to Jun 17 was $1,850.
Data by Redfin shows that the Fort Collins housing market is very competitive. Homes in Fort Collins receive 1 offers on average and sell in around 35 days. The average sale price of a home in Fort Collins was $406K last month, up 4.7% since last year. The average sale price per square foot in Fort Collins is $190, down 1.0% since last year. Homes for sale in the Fort Collins housing market typically receive 1 offer. Homes sell for about 1% below list price and go pending in around 35 days. Hot homes in Fort Collins, CO can sell for about 1% above list price and go pending in around 13 days.
Fort Collins Housing Market Statistics
There are 1,135 homes for sale in Fort Collins, ranging from $1 to $28.8M on Realtor.com. 127 of which were newly listed within the last week. Additionally, there are 228 Fort Collins rental properties, with a range of $575 to $3.5K per month. In May 2019 the housing market in Fort Collins, CO was a seller’s market, which means there were roughly more buyers than there were active homes for sale.
In May 2019, the median list price of homes in Fort Collins, CO was $446.7K, trending up 1.5% year-over-year. The median listing price per square foot was $178. The median sale price was $416.8K. On average, homes in Fort Collins, CO sell after 48 days on the market. The trend for median days on market in Fort Collins, CO is flat since last month, and flat since last year.
The median list price in Fort Collins, CO is $435,000 on Movoto.com. The median list price in Fort Collins went down 3% from May to June. Fort Collins’s home resale inventories is 737, which increased 16 percent since May 2019. The median list price per square foot in Fort Collins is $190. May 2019 was $190. Distressed properties such as foreclosures and short sales remained the same as a percentage of the total market in June.
Fort Collins, CO Single Family And Multi-Family Homes
Following the housing market decline in 2007, single family rental properties became favorable options for investors, saving in construction or refurbishment prices. The quick turnaround for an owner to rent out their property means cash flow is almost immediate. Single family rental homes have grown up to 30% within the last three years. Almost all the housing demand in the US in recent years has been filled by single family rental units.
As per the data from the real estate company called Neigborhoodscout.com, the median house price in Fort Collins, CO is $396,701, which indicates that home prices in Fort Collins are well above the national average for all cities and towns. However, the Fort Collins home prices don’t compare to real estate prices in some of the most expensive communities in the state of Colorado. Single family detached homes are the single most common housing type in Fort Collins, accounting for 56.93% of the city’s housing units.
Other types of housing that are prevalent in Fort Collins include large apartment complexes or high rise apartments ( 24.69%), row houses and other attached homes ( 8.02%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.82%).
The most prevalent building size and type in Fort Collins are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 51.61% owning and 48.39% renting.
Currently, there are 565 single family homes for sale in Fort Collins, CO on Zillow. Additionally, there are 245 single family homes for rent in Fort Collins, CO. Under potential listings, there are about 0 Foreclosed and 22 Pre-Foreclosure homes. These are the properties that may be coming to the market soon but are not yet found on a multiple listing service (MLS).
Fort Collins, CO Foreclosures And Bank Owned Homes 2019
According to Zillow.com, the percent of delinquent mortgages in Fort Collins is 0.3%, which is lower than the national value of 1.1%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth.
The percent of Fort Collins homeowners underwater on their mortgage is 5.1%, which is higher than Fort Collins Metro at 4.1%.
There are currently 42 properties in Fort Collins, CO that are in some stage of foreclosure (default, auction or bank owned) while the number of homes listed for sale on RealtyTrac is 580. In May 2019, the number of properties that received a foreclosure filing in Fort Collins, CO was 0% higherthan the previous month and 53% lower than the same time last year.
Home sales for April 2019 were up 0% compared with the previous month, and down 100% compared with a year ago. The median sales price of a non-distressed home in Fort Collins was $0. The median sales price of a foreclosure home in Fort Collins was $0, or 0% higher than non-distressed home sales.
Fort Collins, CO Home Prices And Real Estate Appreciation 2019
Fort Collins real estate appreciated 69.57% over the last ten years, which is an average annual home appreciation rate of 5.42%, putting Fort Collins in the top 10% nationally for real estate appreciation.
During the latest twelve months, Fort Collins’s real estate appreciation rate, at 4.65%, has been at or slightly above the national average. In the latest quarter, Fort Collins’s real estate appreciation rate has been 0.20%, which annualizes to a rate of 0.82%.
The above statistics on real estate appreciation in Fort Collins, CO were taken from NeighborhoodScout.com. You can visit their page for more information. Relative to Colorado, their data shows that Fort Collins’s latest annual real estate appreciation rate is lower than 70% of the other cities and towns in Colorado.
Best Places To Buy Real Estate In Fort Collins, CO
If you are looking to buy real estate in Fort Collins, you should know the best places to invest in. There are 86 schools in Fort Collins, CO. There are 41 elementary schools, 20middle schools, 14 high schools and 11 private & charter schools. There are 116 neighborhoods in Fort Collins.
Some of the best neighborhoods in or around Fort Collins, Colorado are Rigden Farm, Fossil Lake and Troutman Park. Martinez Park has a median listing price of $696.5K, making it the most expensive neighborhood. Rogers Park is the most affordable neighborhood, with a median listing price of $280,000.
Here are the 10 best neighborhoods in Fort Collins to invest in real estate because they have the highest appreciation rates (List by Neigborhoodscout.com).
Should You Invest In Fort Collins Real Estate In 2019?
Is it worth buying a house in Fort Collins, CO? Investing in real estate is touted as a great way to become wealthy. Many real estate investors have asked themselves if buying a property in Fort Collins is good investment? You need to drill deeper into local trends if you want to know what the market holds for the year ahead.
We have already discussed the Fort Collins housing market 2019 forecast for answers on why to put resources into this market. Although, this article alone is not a comprehensive source to make a final investment decision for Fort Collins, but we have collected ten evidence based positive things for those who are keen to invest in the Fort Collins real estate in 2019.
Investing in Fort Collins real estate will fetch you good returns in the long term as the home prices in Fort Collins have been trending up 1.5% every year. Let’s take a look at the number of positive things going on in the Fort Collins real estate market which can help investors who are keen to buy an investment property in this city.
1. It Has All the Advantages of Denver without the Problems
Fort Collins is a short distance northwest of Denver. When you’re sitting on the front range, there’s more flat land to build on; this explains why the Fort Collins real estate market doesn’t see the same insane bidding wars as Denver.
If you’re considering Fort Collins investment properties, know that it is like a small town but with all the urban amenities like nearby hospitals and good public schools.
2. Fort Collins Real Estate is More Affordable
Fort Collins can be considered a suburb of Denver, but the Fort Collins housing market is far cheaper than Denver. The median home costs around 420,000 in Fort Collins, while Denver properties are flirting with the half million dollar mark.
The median rent in Denver is 2,200 dollars a month. The median rent in Fort Collins is around 1,900 dollars a month. This means Fort Collins real estate investment properties have a good return on the investment, and the ROI will likely increase along with demand in the Fort Collins real estate market.
And Fort Collins real estate is a bargain compared with Boulder, where homes are approaching the million dollar mark.
3. The Social Life Is Better
Fort Collins arguably has a better social life than Denver. This is partially due to Colorado State university dropping a lot of young adults into the Fort Collins real estate market.
There’s more than breweries and clubs, though the city retains its historic downtown for those who want to connect with history. You’re farther from the big city, too, so there are more outdoor activities available. The La Poudre River even runs through town.
4. It Is Growing at a Health Rate
The Fort Collins real estate market has seen steady appreciation because the population itself is growing slowly but steadily. The population has been growing at roughly two percent a year. This causes the Fort Collins real estate market to appreciate at a slightly faster rate, but the Fort Collins housing market isn’t so hot that locals are priced out.
However, the relatively young population creates an opportunity for those who own Fort Collins real estate investment properties. You can rent the property to the steady stream of students, or you can rent it or sell it to the young adults who choose to stay in the area and work for one of the major employers.
Interestingly, most of the new residential construction takes the form of apartments geared toward students, so this won’t cause rental rates or property values to decline.
5. The Job Market Is Strong
Fort Collins has more jobs than job-seekers. There is a modest skills gap between the high tech jobs local employers need filled and the many lower-skilled graduates in the area. Ironically, this keeps the Fort Collins real estate market in check because salaries aren’t spiraling up like Silicon Valley or Silicon Prairie.
The job market contains a broad mix of low-skill, seasonal tourist industry jobs and high tech employers like Hewlett Packard and Advanced Energy. This creates steady demand for Fort Collins real estate investment properties, whether you rent it out to tourists or locals who don’t want to commit to a mortgage.
The four percent annual job market growth, though, will lead more people to the Fort Collins housing market over time.
6. The Tax Rates Are More Reasonable
Fort Collins has more reasonable tax rates than other Colorado cities. For example, the Fort Collins area has a lower sales tax rate than Denver. Colorado in general has some of the lowest property tax rates in the country.
The effective sales tax rate for a home owner in the Fort Collins real estate market is 0.6 percent. The owners of a Fort Collins real estate investment would pay closer to 1 percent.
7. It Is Relatively Landlord-Friendly
Colorado in general is landlord-friendly. There are no state laws on rekeying, pet laws or payment grace periods. Tenants generally have ten days to remedy a violation of the lease or pay back rent or face a rather fast eviction.
However, Denver’s Code of Ordinances puts a few restrictions on landlords. That’s a point in favor of holding a Fort Collins real estate investment property over one in Denver.
8. The City Came to an Accommodation with Airbnb
Whether you’re a tourist hoping to spend a day on the river or the historic downtown or own a Fort Collins real estate investment property, short term rentals are a lucrative way to get the most out of the city.
Property owners have another way to earn money to pay the mortgage. Visitors have more choices than the limited selection of hotels. Students touring the campus, parents attending graduations, and job seekers seeking place to stay all drive demand for short-term rentals in addition to the steady stream of tourists.
The Fort Collins real estate market doesn’t prohibit short term rentals. Instead, they limited properties continually offered as short term rentals to areas zoned for bed and breakfasts and hotels. The rules for those who want to rent out their home aren’t as rigorous as Denver’s.
Denver requires a permit and can revoke it if a neighbor complains enough. And homeowners in the Fort Collins housing market can rent out a spare bedroom a couple times a year without having to meet Fort Collin’s rules for permanent rental properties.
9. Fort Collins Isn’t As Affected by Californian’s Migration
The exodus of people from California to the rest of the West has contributed to population growth from Arizona to Idaho. The influx of Californians contributes to everything from new demands for rent control to more liberalized policies.
Fortunately, the Fort Collins real estate market like the rest of Colorado is protected from rent control laws and the way they cause housing prices and open market rents to skyrocket due to a state law passed in the early eighties.
Californians tend to move from one big city to another, so you get people who sell a two million dollar house in California and live it up in a million dollar property in Denver.
The Fort Collins housing market is not bid up or over-loaded by the newcomers. The fact that it retains more of its original character is another point in Fort Collins’ favor.
10. Fort Collins Is More Business Friendly
Colorado in general is business friendly, and it is lightyears ahead of the West Coast. Colorado ranked among the best places in the country to start a business in 2018.
Fort Collins and several other cities on the Front Range hit the top ten list due to factors like relatively low cost of real estate in the Fort Collins housing market, high education levels, low taxes and strong business incentives.
Denver was number one due to the influx of venture capital between 2010 and 2016. The sheer number of aerospace and defense companies in the area plus the significant resources available at the university give Fort Collins an edge.
Fort Collins Real Estate Investment
Maybe you have done a bit of real estate investing in Fort Collins, CO but want to take things further and make it into more than a hobby on the side. It’s only wise to think about how you can and should be investing your money. If you are a home buyer or real estate investor, Fort Collins real estate investment definitely has a track record of generating one of the best long term returns in the U.S. through the last ten years. If you invest wisely in Fort Collins real estate, you could secure your future. If you are a beginner in the business of cash flow real estate investing, it very important to read good books on real estate.
Most investors naturally gravitate to residential property investment. When looking for the best real estate investments, you should focus on markets with relatively high population and employment growth. Both of them translate into high demand for housing. If housing supply meets housing demand, real estate investors should not miss the opportunity since entry prices of homes remain affordable.
You must also collaborate and learn from savvy real estate investors who have retired early on in their lives by investing in some of the best real estate markets like Fort Collins, Colorado. The Fort Collins area is growing both as an outer suburb of Denver and for its own reasons, making it the fourth largest city in the state. The city offers an ideal mix of jobs, affordable living, and decent quality of life that will keep it strong for years to come.
Buying an investment property is different from buying an owner-occupied home. Whether you are a beginner or a seasoned pro you probably realize the most important factor that will determine your success as a Real Estate Investor in Fort Collins, CO is your ability to find great real estate investments in that area.
According to real estate experts, buying in a market with increasing prices, low interest, and low availability requires a different approach than buying in a cooler market.
We strive to set the standard for our industry and inspire others by raising the bar on providing exceptional real estate investment opportunities U.S. growth markets. We can help you succeed by minimizing risk and maximizing profitability.
The aim of this article was to educate investors who are keen to invest in Fort Collins real estate in 2019. However, we always recommend to do your own research and take help of a local real estate investment counselor.
Other Best Places To Invest in Real Estate in 2019
The other best place to invest in real estate is Omaha, NE. Omaha isn’t booming, but it isn’t busting, either. It is a slow, steady and solid real estate market that has quite a few things going for it. It is attractive to residents, allowing it to retain its youth, while it attracts people from across the country in search of work.
That isn’t going to make the headlines, but it is exactly the sort of long-term value play that we’d associate with the Oracle of Omaha. Omaha real estate has a track record of generating one of the best long term returns in the U.S. through the last ten years.
Another sizzling market to invest in real estate is Bridgeport, CT. While Connecticut ranks among the most heavily taxed jurisdictions in the United States, it is a relative bargain compared to its neighbors. This is why New York residents are moving to the area.
A side benefit of the lower property values in the Bridgeport housing market is that it translates to a much lower property tax bill when all other things are equal.
Now, talking about the NYC housing market 2019, there are a no. of positive things to seriously consider despite the steep price tag. Prices are relative, and prices are relatively low given New York City’s recent market conditions.
While there are a number of regulatory and legal changes being proposed, the odds are that this will only increase the number of distressed property owners while eventually yielding higher rental rates. The NYC housing market can be described as cool, though some will call it a buyer’s market.
Things slowed down significantly in 2016 and 2018 as several groups of international buyers found it harder to buy properties or had less need to do so.
Let us know which real estate markets you consider best for real estate investing! If you need an expert investment advise, you may fill up the form given here.
One of our investment specialists will get in touch with you to discuss all facets of searching for, buying, and owning a turnkey investment property.
*Remember, caveat emptor still applies when buying a property anywhere. The information contained in this article was pulled from third party sites mentioned under references. Although the information is believed to be reliable, Norada Real Estate Investments makes no representations, warranties, or guarantees, either express or implied, as to whether the information presented is accurate, reliable, or current. All information presented should be independently verified through the references given below. As a general policy, the Norada Real Estate Investments makes no claims or assertions about the future housing market conditions across the US.
Advantages over Denver
Landlord friendly https://www.avail.co/education/laws/colorado-landlord-tenant-law
Short term rentals
California migration https://www.5280.com/2019/04/what-would-rent-control-mean-for-colorado
Housing Market Data, Trends & Statistics
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