Loveland continues to surprise us. December, normally a slow month for sales, showed a gain of 26%, rising to 160 sales from 127 in November 2014, and also up 16.8% from 137 sales in December 2013. Overall, sales for the year were slightly lower - there were 2,029 sales in 2013 and 1,962 in 2014, a drop of 3.4%, not significant enough to be meaningful.

Loveland home prices were essentially unchanged in December 2014. Median price remained at $295K, but increased 7.3% from $275K in December 2013. Average price declined 1.2% to $318K from $322K in November, exactly the same from December 2013. In spite of this, the trend line for the last 3 years shows that prices have been rising consistently, with minor deviations.

Inventory is declining, as we would expect it to for this season, dropping in December 2014 to 600 homes on the market, down 12.8% from 677 homes in November 2014. Of these 600 homes, 43% are already under contract and waiting to close. Inventory should remain low for the next couple of months, and then begin increasing as the market becomes more active. Additional sellers are expected to enter the market in response to price improvements.

Summary:
The Loveland CO real estate market had a solid year in 2014. Sales were good, almost equaling the results of 2013. Prices continued to rise, and inventory did a fair job of keeping up with demand. We expect that demand to remain high in response to the strong regional economy and job growth, so we’ll be watching inventory closely - if it increases sufficiently, the market will maintain what has been good balance so far. Our expectation is that it will, and that 2015 will be another good year for Loveland real estate.

If you would like to check out the current inventory, take a look at Homes for Sale in Loveland. If you see something you'd like a look at, please let us know - we would be happy to schedule a showing for you at your convenience.