Well 2007 is in the books and the Loveland Colorado resale market is close to bottoming out. 2007 saw the number of homes sold decline only 3% over 2006. This is fantastic when you look back at how 2006 ended up.
The median sales price for the year ended at $208,000 down 4%. Unfortunately last year we saw an increase in median price. Considering what some of the other areas of the country are seeing, a 3% decline is just fine. The average sales price for the resale market also saw a 4% decline to $249,385.
There is definitely a glimmer of hope for 2008 in the Re-Sale market here in Loveland.
Now for New Construction. I wish these results were better. Loveland saw the new construction volume drop 34% over 2006.
However on the bright side of things, the median and average sale price increased 18 and 11 percent respectively. we are definitely seeing upper end home driving what new construction market we have. The median price for 2007 was $385,000 and the average price was $408,900.
Happy New Year!
Rob Proctor, Broker, At Home Realtors Loveland CO http://at-home-realtors.com/
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