Residential Rents Rising Despite Drop in Median Home Sale Prices
According to a Coloradoan article published on September 13th, the median home sale price in Fort Collins dropped in August to $420,000 from $435,500 in June. Additionally, the number of sales $400,000 and lower has dropped 20% year over year. Rent rates, on the other hand, are increasing. While most parts of Fort Collins are seeing already historically high rent rates rise at 1-2% compared to this time last year, there are few submarket areas that are especially hot. Northeast Fort Collins is one of these submarkets, with an area bordered by College Avenue on the west and Prospect Road on the south, adjacent to CSU campus, seeing a median rent rate increase of 23.5% from the first quarter of 2018 through the first quarter of 2019. Click Here to read the Coloradoan article.