June 2010 Fort Collins Real Estate market statistics are in. Each month we track the following leading market indicators for Fort Collins, Colorado:
U/C = Under Contract
Solds = Number of sold properties
MSI = Month’s Supply of Inventory
************************* What is the MSI? The MSI is an estimate of how long it will take for all the homes in a market area to be sold, or absorbed, based on the number of homes currently on the market and the rate that homes have sold in the past. A market is considered balanced when the MSI falls between 5-7 months. Under 5 months is considered a seller’s market and over 7 months is considered a buyer’s market.
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Here are the June highlights:
The two-year comparison from June 2008 to June 2010 shows a slight increase in the number of under contract single-family detached homes, a good indicator for future solds in the area. The actual number of solds was down only slightly by 5%. At the same time, the MSI dropped, indicative of a tightening and more balanced market.
