The average sales price for a home in Fort Collins eclipsed $402,000 in 2016, up more than 10 percent over the prior year and above a critical price point of $400,000 that is unattainable for many people.

And prices on condos and townhomes, considered the most affordable option for first-time home buyers, escalated faster than single-family homes because of the small number of sales and lack of new construction.

The average cost of a townhome or condo in Fort Collins in 2016 was $264,000, up 16 percent from the year prior. In just two years, the cost of a condo increased 31 percent – from $201,778 to $264,000, per data from the Fort Collins Board of Realtors.

When legislators passed a law that sought to protect would-be home buyers from poor workmanship in new construction, they did so in good faith.

Read more at the Fort Collins Coloradoan