August 24’ - Listing Spotlight
August of 2024 was slightly busier in regards to amount of listings as 12 homes were listed in 2024 as compared to the 9 listed in 2023. August has traditionally been a slower month for how fast homes move, primarily as it tends to be a “transition” month in many peoples lives as summer ends, school starts, and rental cycles come to a close. That means that homes listed in August tend to take longer to go under contract until people get settled into the new normal for the rest of the year. In 2023, only 3 homes were under contract in less than 2 weeks, which is bang on the same numbers in 2024. Both years, the homes that went under contract quickly were ones in the lower price ranges (less than $700K). The largest change between the years is the amount of million dollar + homes listed in 2024 compared to 2023. In 2023 there wasn’t a single home listed over one million in August, while in 2024, four homes over a million were listed (with a few over 2 million!). While this might just be the luck of the draw, it does add more inventory and options to a price range that already has quite a few options, so that will likely equate to a longer time on market for that sector in the market. There is a sense of hope with September that rates will continue to decline creating a more affordable market for buyers and increased demand to gobble up some of the stacking up supply. We will see how the next month goes, but in the meantime, if you’d like to read about all of the homes that were listed this past month, you can in my write-up of each below!
415 S Howes St 608 , Fort Collins, 80521
Listed by Angela Spangler, Remax Alliance
List Price: $315,000
Sold Price: Pending (23 Days to Offer)
Difference: TBD
Not a top floor condo in this complex, but high up enough that a view could be had. It looks like the property was well staged, marketed, and priced, and received an offer after a few weeks on the market. Part of that is likely due to the lack of options in this price at the moment.
403 N Shields St, Fort Collins, 80521
Listed by Rob Crouch, Roots Real Estate
List Price: $435,000
Sold Price: Active (As of 09/05/24)
Difference: TBD
This one came on at the very end of the month, so there still may be hope for it to go under contract in a shorter fashion. It is located right next door to another Shields property (listed by the same broker) so there is potentially some built in competition right there. This property, however, does look to be put together a bit better, so at the price it may attract some buyers who are willing to look past being on Shields.
1113 Maple St , Fort Collins, CO 80521
Listed by Marsha Petrovic, The Group Mulberry
List Price: $500,000
Sold Price: Pending (4 days to offer)
Difference: TBD
This property was very well marketed, and the backyard space is definitely driving the sale. While the total footprint of the home isn’t the largest, the work that has been done in the home makes it a move-in ready home (maybe a bit of paint….but nothing major). The outdoor space is a big draw, and I do know that multiple offers were received on this property…likely due to price and the limited options available in that range at the time of listing.
511 Wayne St, Fort Collins, CO 80521
Listed by Scott Beasley, West and Main Homes
List Price: $519,900
Sold Price: Pending (4 days to offer)
Difference: TBD
Great little home is a neighborhood setting that is pretty darn ideal. There is definitely still work that can be done on the home, but to find almost 1800 SQFT of living space in a home at this price in Old Town is becoming difficult. This property was under contract in short order, although I don’t expect that it will sell much more than its listed price.
324 N Loomis Ave, Fort Collins, CO 80521
Listed by Amy Kilcoyne, Keller Williams Realty NoCo
List Price: $569,900
Sold Price: Active (As of 09/05/24)
Difference: TBD
I think the overall size of this property at the price is a tough sell in the current market. Because it is smaller, it may be best suited for either a retiring couple, or a younger couple. My bets would be on a younger couple, but it doesn’t leave much room for expansion of family size, and then becomes a pretty temporary housing solution at a price where you could really get much more house by looking a bit further out of Old Town. This one sold back in 2021 for $475,000, and we haven’t seen a ton of appreciation overall between then and now. My intuition is telling me that this home is probably better situated in the $515-$525K range, and that may even seem high to some!
306 Wayne St, Fort Collins, CO 80521
Listed by The Crisafulli Team, The Crisafulli Group
List Price: $615,000
Sold Price: Active (As of 09/05/2024)
Difference: TBD
I really like this house overall and the potential it provides. The main house itself is quite a nice space with 2 beds and 1 bath, a spacious kitchen/dining space and a living room. Just having that space alone in this neighborhood would give the home a value over $500K. There is an additional accessory dwelling unit that is nicely finished, but also may be the deterrent in the sale. There is some email correspondence between listing brokers and city regarding its potential use that concludes that the space could potentially be used as an accessory dwelling unit (ADU). IF that is the case, the ADU would be an amazing short term rental opportunity that would help offset the costs of mortgage on the main house, but still provide primary occupancy in the main house.
620 Park St, Fort Collins, CO 80521
Listed by Collin Rue, C3 Real Estate Solutions, LLC
List Price: $795,000
Sold Price: Active (As of 09/05/24)
Difference: TBD
This is a nice remodel of a home to be in-line with its mid-century roots and attractive to the current tastes of buyers. I think the overall space has been well done, but there may be some concerns from buyers that the home is over-improved for the current neighborhood. I suppose improvements of a neighborhood need to start somewhere, but buyers in this price range might be attracted to other options and styles in the area that better suit their needs. I’d be enticed by this property though, so I doubt it will be long on the market.
1317 Laporte Ave, Fort Collins, CO 80521
Listed by Emily Heinz, Downtown Real Estate Brokers
List Price: $850,000
Sold Price: Active (As of 09/05/24)
Difference: $TBD
This one piques my interest as the style and finishes upstairs looks to be updated, yet within period. If you know me, you know that I am a sucker for original wood floors, and this property has some sweet doug-fir floors upstairs and even a craftsman style colonnade separating dining from living space. My guess is that the basement is where the plot is lost for many buyers based on layout and how they would use that space.
1002 W Mountain Ave, Fort Collins, CO 80521
Listed by Kelly McBartlett, Compass - Boulder
List Price: $1,150,000
Sold Price: Pending (20 days to offer)
Difference: TBD
One of the few million dollar + listings that has gone under contract in recent weeks, I was actually a bit surprised that this one came on above a million. This home is a 3 bed, 2 bath 1700ish finished SQFT home with a minimal overall yard space and garage. However, it is on a pretty ideal section of Mountain Ave, and given that most other Mountain Ave homes have been listed at least $100K higher, the value was seen in this property by a buyer.
119 N Shields St, Fort Collins, CO 80521
Listed by Rob Kittle, Kittle Real Estate
List Price: $1,499,000
Sold Price: Active (As of 09/05/2024)
Difference: TBD
This home originally started its journey back in May when it was listed for $1.8 million. While I can see the size justifying a large portion of the pricetag, this homes location on Shields St. is always going to make it a tougher sell. I have to wonder if it was just over-improved throughout the years and now is struggling to sell as it competes against other similar priced, but slightly smaller homes in more ideal overall locations. I actually think that this home might need to get closer to $1.25 million before it really gains some traction, especially as we are nearing the fall/winter timeframe. Lets see what happens!
1430 W Oak St, Fort Collins, CO 80521
Listed by Jason Humpal, CENTURY 21 Elevated
List Price: $2,450,000
Sold Price: Active (As of 09/05/24)
Difference: TBD
The equivalent of a “lakefront” property in the center of town, this remodeled Oak st home faces City Park which is a prime location. This home sold for $1.3 million 4 years ago in the heat of COVID, and at that time it was freshly remodeled. From a cursory glance between the 2 times it was listed, I don’t see any added improvements or SQFT, so I get the feeling that the current price is a bit speculative to see if it sticks in the market. The price difference between the last sale and now is a 84% increase in valuation, which if averaged equally over the 4 years, would be a 21% increase each year. Given the last 2 years have been relatively flat in appreciation, I just don’t see this being the value in the market, even if the home is an incredible remodel and product.
231 S Grant Ave, Fort Collins, CO 80521
Listed by Emily Heinz, Downtown Real Estate Brokers
List Price: $2,500,000
Sold Price: Pending (15 days to offer)
Difference: TBD
Agent owned throughout the years, this property is quite an amazing piece of architecture and a home on what I think is the coolest corner in Fort Collins. Provided this gets all the way to closing, it will be in the top 5 highest priced sales in Old Town, and I think there are only a few homes in the area that could actually fetch the price tag in this range.
