Your Community Connection Newsletter

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Interest rates and market uncertainty pushed the start of selling season back more than a month.

“The most recent sales results from the month of April lack excitement and intrigue – especially compared to last year when interest rates were low, and houses were getting bid up by tens of thousands of dollars over-asking price. This April, the real estate market is a bit like the set-up of Waiting for Godot but instead of waiting for the enigmatic and illusory Godot, the market is waiting for interest rates to come down – and like the play, life trudges onward while we wait and see if what we are waiting for ever shows up.

“The market year-over-year is reflective of the waiting: listings are down – likely because potential sellers don’t want to sell and face higher interest rates for the replacement property purchase. Closed sales are down because a huge chunk of the buyer pool is on the sidelines waiting for interest rates to come down (or prices to come down) so they can afford to purchase a home. Days on the market are up – homes are taking longer to sell as the active buyers have a bit more time to look before deciding on the home to

purchase. This coincides with total active properties for sale being up as is the months’ supply of inventory at nearly two months. With that additional time, we are also seeing homes sell for less than the asking price. The number of homes that sold for less than the listing price represented 42% of the sales in Fort Collins in April. This is as balanced a market as we’ve seen in many, many years given the interplay between demand and supply.

“In broad economic terms, the Fed has perhaps made its last interest rate increase this year, the most recent jobs report shows employers are still hiring at a brisk pace, and many folks are waiting for a recession to show up and mortgage rates to start trickling down. Time will tell – but the summer selling season is just about to get under way and may very well prove to be a summer of sustained activity rather than peaking in June and trickling down to September. Interest rates will be the determining factor in how active the summer real estate market will be.”

Source: Spring has sprung, minus the houses – Colorado Association of REALTORS® (

The value assigned to your home by a government tax assessor, which is used to calculate property taxes. Each data point is one month of activity. Data is from May 12, 2023. Property data from IRES and REcolorado (past three years only). Showings data from ShowingTime and IRES listing data only. Data deemed reliable, but not guaranteed. InfoSparks © 2023 ShowingTime
PRSRT STD US POSTAGE PAID GREELEY, CO PERMIT 92 2720 Council Tree Ave, #178, Fort Collins, CO 80525 OUR Northern Colorado FEATURED LISTINGS Information is deemed reliable, but not guaranteed. © 2023 C3 Real Estate Solutions, LLC. YOUR COMMUNITY CONNECTION NEWSLETTER JUNE 2023 954 Wagonwheel Dr, Fort Collins 4 Beds/3 Baths/2779 SF $669K, MLS 986874 3725 Minturn Dr, Loveland 3 Beds/3 Baths/2196 SF $540K, MLS 987184 250 Shupe Cir, Loveland 2 Beds/2 Baths/1352 SF $415K, MLS 987301 1209 Ulmus Dr, Loveland 4 Beds/3 Baths/2001 SF $499.9K, MLS 985515 2765 Dafina Dr, Loveland 5 Beds/4 Baths/3451 SF $650K, MLS 986348 6342 Sanctuary Dr, Windsor 4 Beds/5 Baths/5896 SF $1.65M, MLS 986904 425 E Laurel St, Fort Collins 4 Beds/3 Baths/2675 SF $1.45M, MLS 985949 907 Shore Pine Ct, Fort Collins 4 Beds/4 Baths/5165 SF $1.995M, MLS 983001 1839 Thyme Ct, Fort Collins 4 Beds/4Baths/3101 SF $650K, MLS 987202 3420 W 22nd St, Greeley 5 Beds/3 Baths/2805 SF $399.9K, MLS 986581 JESSE LANER Co-Founder | Owner 970.672.7212 JOHN SIMMONS Co-Founder | Owner 970.481.1250