This is the Loveland CO Market Trends Report for February 2015
Home Sales:
January 2015 home sales were 104, a drop of 53.8% from 160 sales in December 2014, but were up 31.6% from 79 sales in January 2014, a month which also showed a sharp drop. A slow sales month in January is neither a surprise or alarming, resulting most likely from the normal seasonal slowdown.
Home Prices:
Loveland home prices rose slightly in January 2015. Median price rose to $300K, a gain of 1.7% over the $295K of December 2014, and up 14.9% from $261K in January 2014. Average price rose 1.3% to $322K from $318K in December 2014, and up 4.5% from $308K in January 2014. It’s always worth mentioning that these numbers reflect only the prices of homes sold in a particular month. Evidence of increasing value is evident in the trend line over time.
Inventory of Homes for Sale:
The total inventory of homes for sale rose slightly in January 2015 to 608, up 1.3% from December 2014. However, once homes already under contract are accounted for, the actual inventory of currently available homes dropped 5.3%, from 340 in December 2014 to 323 in January 2015. This is a normal and expected result, given that we are in the slower winter season. It is hoped that inventory will begin to show some good gains over the next two months - that will be needed to provide market stability.
Summary:
Not much of real note occurred in the Loveland CO real estate market during January. This is traditionally a slower time for real estate activity, so the sales, price and inventory variations experienced are most likely of little significance. We don’t expect the data to give us much to consider until we’re well into the busier spring season. We do know that buyer demand, driven by regional economic growth, has remained strong. The pressure point for the market will be inventory - if we don’t have sufficient new homes coming on the market, there will be significant upward price pressure.
If you'd like to browse the current inventory, check out Homes for Sale in Loveland CO. If you find a home you'd like to see, please give us a call - we would be happy to schedule a showing for you at your convenience.
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