This is the market trends report for Greeley CO for January 2013:
Home Sales
77 homes sold in January 2013, up 13.2% from 68 sales in January 2012, but down 15.4% from December, 2012, most likely due to seasonal slowing of the market. Overall market performance in 2012 was a slight improvement on 2011 and 2010.
Home Prices
Prices have been trending upward, with Median Price up 6.3% to $170,000 and Average Price up 3.3% to $186,000 from December, 2012 levels. Reflective of specific homes sold in a given month, the price data trends from the previous two years do show general improvement.
Home Inventory
Inventory levels are a concern, lower than optimal for a balanced market, and dropping 3.1% from December, 2012. The Months Supply of Inventory (MSI) increased only slightly to 5 months, due to slower sales activity.
Summary:
While it is too early in the year to have a good idea of where the housing market is going, it is clear that in comparison, the housing market in Greeley is lagging behind the rest of the northern Colorado region. However, an improving regional economy, along with the abundance of affordable homes in Greeley, give us some cause for optimism that 2013 will continue the improvement we saw last year in the real estate market.
Check out the homes currently for sale in Greeley, CO, and if you run across something you'd like to take a look at, please give us a call - we'd love to set up some showings at your convenience.
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