Upper-end buyers migrate out of Fort Collins, Colorado in search of bigger lots
By BuyandSellColorado.com
When you’re driving east along Highway 392 (Windsor Road) from Fort Collins to Windsor its hard not to notice the new neighborhoods of Eagle Ranch, Country Meadows, Country Farms, Highland Meadows, River Ridge and Bison Ridge. What are the two things they all have in common? 1) Most of the buyers are from Fort Collins, Colorado or out of state. 2) They couldn’t build their house in Fort Collins Due to City Plan – a land use policy implemented in 1997 that increases density and limits lot sizes. As a result upper-end households wanting larger lots have been migrating out of Fort Collins and into surrounding Communities. By defining an upper-end home as $275,000 in 1997 and then increasing it approximately 5% per year to 2005, Fort Collins share of new, upper-end housing in Larimer County has dropped from 57.5% to 5.8%. (Source: Home Builders Research and IRES)
NEW SINGLE-FAMILY DETACHED HOME SALES
|
Year |
Price |
Inside Fort Collins City limits |
Outside Fort Collins City Limits |
Loveland |
Windsor |
County |
|
1997 |
$275,000+ |
57.5% |
29.1% |
10.4% |
-0- |
3.0% |
|
2001 |
$300,000+ |
31.5% |
26.0% |
26.0% |
20.8% |
1.3% |
|
2005 |
$400,000+ |
5.8% |
26.8% |
26.8% |
29.5% |
6.3% |
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