September 24’ - Listing Spotlight
September certainly felt busier in Old Town activity than in years past, and the numbers prove that point well. Last September, 11 homes were listed, but only 5 of those homes actually sold while the remainder eventually expired without an offer. This Septbember, 15 new properties were listed, with 5 of those properties already under contract and 3 more already closed in the month (non-financed offers can close quickly). There is definitely a higher demand for homes closer to the overall median sales price in Fort Collins (Which is sitting around $550K) as a majority of those homes under contract this month are right around that range in price. There is no real definitive trend of median sales price in Old Town (looking at the graph looks like a heart beat monitor) so trying to judge a market trend with month over month median sales price is pointless. I do think the we saw things open up a bit more in anticipation of interest rate reductions, which ultimately are still pretty stagnant even after the FED cut rates as expected. The reality is that the FED rate cut had been anticipated for so long leading up to the middle of September, that we actually saw the rates drop a few weeks prior to the actual cut, and then increase after the cut. Either way, rates are still down and settled into the low 6% range or even high 5% range, and a slow trickle down and stabilization into the 5% range for next spring (fingers crossed) should hopefully unlock some more inventory across the board that will get the market moving again. 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 N-208 , Fort Collins, 80521
Listed by Denise Loree Staab, Group Mulberry
List Price: $350,000
Sold Price: Active (As of 10/08/24)
Difference: TBD
As a lower level apartment without an amazing view, I am not surprised that this condo is taking a bit more time to sell. There is some nice staging in the property which definitely adds some appeal to online views, but there is also a decent amount of upgrading that can be done as well. However, having the 2 bedrooms is always a plus in these condos, so hopefully that (with a price adjustment here and there as needed) will be enough to get this one done.
1234 Maple St, Fort Collins, 80521
Listed by Tyler James, RE/MAX Alliance-Wellington
List Price: $439,900
Sold Price: Pending (5 days to offer)
Difference: TBD
Having just finished multiple months of scraping, sanding, and repainting just one side of my own house, I see the exterior of this home and think about how much work it might take to get it up and running again. However, I can pretty much guarantee that this home will be back on the market again sometime in the near future, and at the price, they may actually be able to make a return on the investment. It will be interesting to see a before and after of this place….and to see what the next list price is? I’m thinking upper $600’s if they do it right!
121 N Mack St , Fort Collins, CO 80521
Listed by Andrea Tuell, The Group Harmony
List Price: $495,000
Sold Price: Sold off Market
Difference: TBD
Because this home was sold without ever going to the market, there isn’t much info to go on with it. However, based on the price, I would expect that the home may have needed a bit of work on the interior, or that the renter purchased from the owner and got a pretty sweet deal on it!
326-328 N Grant, Fort Collins, CO 80521
Listed by Max Sepulveda, Kittle Real Estate
List Price: $500,000
Sold Price: Active (As of 10/08/24)
Difference: TBD
A side by side duplex in the heart of Old Town might just be a wise investment for the right person. Each of these units are a 1 bedroom/1 bathroom and rent for $1650/$1525 respectively. Is the interior of the place anything to write home about? Not really, but then again, this property is always going to be one where numbers, logic, and location will super cede any type of emotional attachment.
411 Franklin St, Fort Collins, CO 80521
Listed by Brian Grauberger, Group Harmony
List Price: $500,000
Sold Price: Pending (4 days to offer)
Difference: TBD
This is a great, affordable (for Old Town) starter home that looks to be in great condition. As I’ve seen with many homes this year, if you can hit the mark on condition (IE move in ready), price, and location, homes will still move quickly. Seeing as how this property was under contract in short order, I wouldn’t be surprised if it ended up with multiple offers.
1502 Laporte Ave, Fort Collins, CO 80521
Listed by Siduri Taylor, C3 Real Estate Solutions LLC
List Price: $515,000
Sold Price: $515,000
Difference: $0
Fun fact: This home had a stripper pole installed in a bedroom once upon a time! I kid you not….I distinctly remember touring it back in 2015 when it last sold and just confirmed my memory was correct by looking at the old photos. But I digress, this go around the pole is gone, updates have been made, and the home was under contract and sold within short order. While it didn’t go over list price, going under contract in 3 days with a full price offer is pretty darn good in the market!
347 N Shields St, Fort Collins, CO 80521
Listed by Josh Landers, Remax NEXUS
List Price: $550,000
Sold Price: Active (As of 10/08/24)
Difference: TBD
I am thinking that the price may just be a bit high on this particular rental property given the location and condition. Each unit is a 1 bedroom/1 bathroom, and rental rates aren’t listed to see what the total amounts are being received. I don’t see a ton of potential for this property to be turned into a single family home either, especially with it being located on Shields st. I could see this being a property that spends a majority of the winter on the market unless it starts doing some price adjustments to draw some new interest.
1515 Laporte Ave, Fort Collins, CO 80521
Listed by Greg Richard, Coldwell Banker Realty- Fort Collins
List Price: $599,000
Sold Price: Pending (4 days to offer)
Difference: $TBD
The somewhat subdued look of the exterior of this home is met by quite a nice look on the interior of the home. It can be tricky to find a 3 bedroom/2 bathroom home in Old Town that doesn’t break the bank, so this home likely fit the needs for a fair handful of potential buyers in the market. The large backyard is also a huge positive on this home, as it provides extra expansion potential or the ability to build a dedicated garage for cars/storage. The 3rd bedroom is an attic bedroom, and probably works for a short time for children, but may be something that gets overgrown if a family increases in size.
431 W Oak St, Fort Collins, CO 80521
Listed by Michael Jensen, Fort Collins Real Estate, LLC
List Price: $639,900
Sold Price: Active (10/08/24)
Difference: TBD
I don’t see much wrong with this property overall and actually think it is a sleeper in the market. It strikes me as a home that would sell easier if it were vacant and staged to be able to really showcase the space in a positive manner. Right now, the furniture in the home is a bit oversized for the space, which makes the home feel smaller and not as liveable as it could be. This is a home that I would set up a showing for, especially for a retiring couple moving into town wanting a mix of price, location, and not in need of a huge space.
225 Wood St, Fort Collins, CO 80521
Listed by Angie Spangler, RE/MAX Alliance-FTC Dwtn
List Price: $700,000
Sold Price: Pending (8 days to offer)
Difference: TBD
This is probably my favorite of all the homes that listed in September. It has the characteristic charm of a turn of the century home, in a great location, with a good amount of updates on the inside. I don’t think the price is bad either considering the condition and size, although maybe on the top end of a 2 bedroom. However, the large lot provides plenty of potential for a future addition or alterations, so this is my pick of the month!
210 W Magnolia St. 350 , Fort Collins, CO 80521
Listed by Marnie Long, Group Harmony
List Price: $749,900
Sold Price: Pending (15 Days to Offer)
Difference: TBD
Under contract in just over 2 weeks is pretty good for one of these units which have, in the past, spent quite some time on the market before getting an offer. In fact, this same property was on the market earlier this year with a different agent (and a different price) and didn’t end up getting any offers. Perhaps it was just a mix of the right timing for rates and price to get this one done as the marketing and look of the home is very similar between the agents.
300 Park St, Fort Collins, CO 80521
Listed by Emily Heinz, Downtown Real Estate Brokers
List Price: $837,000
Sold Price: $815,000
Difference: -$22,000
To be honest, on paper the price of this property surprised me for the size and location. This home is comprised of 3 bedrooms and 2 bathrooms, but only 2 of those bedrooms are upstairs, which can be a harder sell for family purchases. However, this home has the complete X factor of having a 4 car garage, which is rare both in Old Town and across all of Fort Collins. The garage also had plumbing in place, so it could be converted into a living space down the line (zoning willing) or is just a great workshop space for the next owner.
302 N Meldrum St 312, Fort Collins, CO 80521
Listed by Brooke Walser, C3 Real Estate Solutions LLC
List Price: $889,000
Sold Price: Active (As of 10/08/24)
Difference: TBD
All of these condos in the Myridium complex are very well built and finished, so I don’t see many qualms with buyers on that level. What I do see being problems on some of these units are the layout, specifically the location of the primary bedroom. At the price and size, these really attract a few specific type of buyers, one of which being lock and leave part time residents. For many of those residents, that means a retired lifestyle, and my experience has shown that many retirees put some weight into as few of stairs as possible, especially for the primary bedroom. Unfortunately, this unit only has one dedicated bedroom (upstairs) and a flex space (used as an office) downstairs. I think if the primary was downstairs, and the bonus space (for guests or office) was upstairs, these would be selling much quicker!
224 Canyon Ave 306, Fort Collins, CO 80521
Listed by Amanda Weaver, RE/MAX Alliance-Greeley
List Price: $1,100,000
Sold Price: Active (As of 10/08/24)
Difference: TBD
I don’t see much wrong with the pricing for size and location of this property, so it may just be the particular market has more options at the price. This condo does have some interesting angles, which might be a bit of a deterrent to some, but may add charm for others? Either way, I think it may just take a bit of time on this particular property to find the right buyer, but I don’t see anything crazily wrong with it.
1150 W Mountain Ave, Fort Collins, CO 80521
Listed by Emily Heinz, Downtown Real Estate Brokers
List Price: $1,150,000
Sold Price: Active (As of 10/08/24)
Difference: TBD
This home spent some time on the market back in 2022 and did go in and out of contract a few times that year. When I showed it back then, it checked many of the boxes in terms of price, location, and overall size, but ultimately, for a family looking for a home, it was a bit lacking on the bedroom space, especially upstairs. The master suite looks like it has been expanded over the years as a combination of 2 rooms, which is nice, although it is at the expense of an extra room upstairs. This strikes me as a great home for a retiree who has moved to town and wants the charm, location, and minimal steps in a home. We will see if it fairs better this go around!
