October 24’ - Listing Spotlight
Comparing October of 2024 to October of 2023 will never result in a true trending comparison, primarily because October of 2023 was a record setting month as 27 homes were listed! However, this most recent October, we saw 13 homes listed which is much more in line with expectations and historic trends over the years. We truly are on the downswing of new and unique listings for the rest of the year, and with the election now behind us, perhaps some buying sentiments will open up as we are no longer waiting for the unknown? On the flip side, many may still feel that we won’t know the effects of the election until the president is sworn in come January, and given the tumultuous events of January 6th on the last go around, there may still be some “hold and wait” sentiment in the market until we get into the swing of spring. As continues to be the case, the homes listed that are either close to the median sales price in Fort Collins (Mid $500’s) or are completely move in ready are the ones that end up moving fast in the market. The rest of the homes seem to be on a trajectory of longer wait periods, with occasional price reductions. However, those price reductions don’t seem to happen nearly as quickly as they have in years past, so patience will be the key as both a buyer and seller in the current market. 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!
421 S Howes St 304 , Fort Collins, 80521
Listed by Denise Loree Staab, Group Mulberry
List Price: $249,000
Sold Price: Active (As of 11/08/24)
Difference: TBD
This looks like a well maintained mid floor condo at a decent price. There aren’t tons of amazing upgrades, but overall it looks like a decent fit for a buyer who is looking for easy maintenance, in an old town location, and isn’t to worried about the property being a fast appreciating asset. I’m thinking this could be a great lock and leave apartment for someone, or potentially a nice place for in-laws to have without worrying too much about maintenance.
415 S Howes St N-606 , Fort Collins, 80521
Listed by Carol Voorhis, Group Harmony
List Price: $299,000
Sold Price: $286,000
Difference: $13,000
This property never hit the open market, but shared some similar characteristics to the other 1 bedroom condo listed this month. However, because this one has been updated, especially the kitchen space, it may have been a more attractive home for the eventual buyer.
1218 Maple St , Fort Collins, CO 80521
Listed by Jake Arnold, Waypoint Real Estate
List Price: $425,000
Sold Price: Pending (17 days to offer)
Difference: TBD
It looks like this is the type of home where the price really drove the sale. The quality and condition of the home isn’t in line with “resale” condition, so this property presents a good opportunity for either a sweat equity gain in value, or for a home buyer who is purchasing on a budget and is OK with the condition being so-so. Fun fact, the home next door (green one) is my first ever transaction!
229 Lyons St, Fort Collins, CO 80521
Listed by Paula Friedman, Mile Hi Modern
List Price: $400,000
Sold Price: $441,000
Difference: $41K
This is quite the standout sale this month, and is a true example of creating urgency in a market that doesn’t always have it. The property was well marketed with professional photos, staged, and priced at the very low end of expectations, which brings a multitude of buyers to the table. The difference of $41K actually signifies that it may have been slightly under priced, but I’ve found that under-pricing homes doesn’t really leave money on the table if the rest of the process is followed through, and this property seems to have netted the sellers a decent amount, likely with the most favorable terms and conditions along the way.
401 N Shields St, Fort Collins, CO 80521
Listed by Rob Crouch, Roots Real Estate
List Price: $499,000
Sold Price: Active (As of 11/08/24)
Difference: TBD
This is the second go around for this home being listed as it originally started on the market at $560,000 back in June. I did have the opportunity to tour it a few months ago, and it starts out really well in the front of the house, but progressively gets a little more rugged in condition the further you move through the home. From my perspective, this home could either use a bit more work to get it cleaned up for sale, of potentially an elongated time off of the market to allow it to come on as a fresh listing in spring where there is a bit more urgency and perhaps a softened interest rate market.
206 Columbine Ct, Fort Collins, CO 80521
Listed by Kelley Reichert, Reichert Real Estate
List Price: $500,000
Sold Price: $532,212
Difference: $32,212
From the moment I saw this home hit the market, I knew it would be a multiple offer situation. The quality, condition, pricing, marketing, and location of this home is just a total “home run” in my mind. The ability to find a well-maintained move-in ready home in Old Town at this price has become quite rare, so seeing this one go $30+ K above list price is definitely right in line with what I would expect.
818 Maple St, Fort Collins, CO 80521
Listed by Emily Heinz, Downtown Real Estate Brokers
List Price: $729,000
Sold Price: Pending (27 days to offer)
Difference: TBD
This home seems to have finally seen its payoff of patience without chasing the price down to the bottom. I say this because this particular home has been on the market since May of this year, and has only price adjusted once from when it was originally listed at $739,000. There really doesn’t seem like much is wrong with this home, save maybe it is a bit small in footprint for the overall price, and that the 3rd bedroom is in the upstairs loft area, making this live a bit more like a 2 bed, 1 bath as opposed to a 3 bed, 1 bath.
1317 Laporte Ave, Fort Collins, CO 80521
Listed by Emily Heinz, Downtown Real Estate Brokers
List Price: $800,000
Sold Price: Active (As of 11/08/24)
Difference: $TBD
Another listing that is not original to October, it seems that patience will still be key to getting this home under contract. It originally started out as a For Sale By Owner at $950K, but over time has been listed by a professional and seen a few price adjustments and relistings along the way. I still think that the basement space is where the buyers are getting lost in this home because the upstairs space really is charming in character.
302 N Meldrum St. 206, Fort Collins, CO 80521
Listed by Eric Tutsch, C3 Real Estate Solutions, LLC
List Price: $889,000
Sold Price: Active (11/08/24)
Difference: TBD
The units in this building are of good quality overall, and this particular property does have living all on one level which is a bonus. I’ve experienced buyers wishing there was more overall storage space in these units, which can be a detriment as I see many of these purchase by downsizing couples who weren’t ready to downsize quite that much at once. It may just take more time for this one to go, and it will still likely be in the mid to upper $800’s when it sells.
139 Pearl St St, Fort Collins, CO 80521
Listed by Mark Valdez, Berkshire Hathaway HomeServices Rocky Mountain, Realtors-Fort Collins
List Price: $936,000
Sold Price: Pending (8 days to offer)
Difference: TBD
I see this home as great Old Town value on a truly great street. Every time I walk down this tree-lined street, I feel calmed and wonder what it would be like to live here. This particular home has a nice mix of bedrooms, sqft, historic charm, and potential to really make it shine. Given that it went under contract in just 8 days, I expect that it will sell right around the listed price.
425 N Whitcomb St , Fort Collins, CO 80521
Listed by Emily Heinz, Downtown Real Estate Brokers
List Price: $1,275,000
Sold Price: Active (As of 11/08/24)
Difference: TBD
This is quite the eclectic home with tons of fun and quirky finishes and features. It was last sold in 2018 in the $600’s, but there has definitely been lots of work done to the home since then, including a 600 SQFT ADU on the property. I’m not exactly sure what I think about all of the rooms, finishes, and layout, so there may be some hesitation from buyers as well. However, the curiosity factor may just get a few more people through the door, but I would expect this home may spend a little more time on the market in search for the right buyer that appreciates its uniqueness.
109 N Washington Ave, Fort Collins, CO 80521
Listed by Becky Cramer, Group Mulberry
List Price: $1,425,000
Sold Price: $1,482,500
Difference: $57,500
This home is another standout sale this month, as there are actually quite a few options in the $1.0-$1.5 million dollar range in Old Town these days. However, the proximity to Mountain ave and the move-in ready condition of this home really brought out the buyers who have been waiting for the right home to come along. That being said, this home ended up selling quickly for a nice chunk of change above the list price.
224 Canyon Ave 628, Fort Collins, CO 80521
Listed by Greg Roeder, LIV Sotheby's Intl Realty
List Price: $1,995,000
Sold Price: Active (As of 11/08/24)
Difference: TBD
I’m sure there is a story behind this sale as it was recently purchased in July of 2024 and now relisted with the same agent who originally listed the home. This is only one of 3 penthouse units in the Cortina Lofts, which provides an exclusive feel to the property, but also limits the potential buyers based on price. Obviously, the quality and condition of this home are tip-top, and the ability to have outdoor space via 3 patios in the middle of Old Town is quite rare. I have a feeling that this particular property will take a bit longer to sell again based on the recency of sale, as well as the time of year. Lets see if I get it right or wrong!
