Surprisingly, home sales declined in April 2015, with 164 homes sold, down 3.6% from 170 sold in March 2015, but matched the 164 sales in April 2014. We were expecting to see sales rise as is typical for the busier spring season.

Prices, on the other hand, did rise strongly in April 2015. Median price increased 6.6%, to $321K from $301K in March 2015, while average price rose 5.0% to $351K from $334K in March. Both median and average price are also up from April 2014, and the three-year trend line, as can be seen in the graph at right, continues its steady rise.

Inventory did not display its usual seasonal increase. While the number of total homes on the market grew to 745, up  3.4% from 720 last month, 53% of those homes are already under contract and waiting to close. The number of homes actually available for sale grew only 2.3% in April. Inventory levels, however, are ahead of last year.

Summary:

April gave us some mixed signals for the Loveland real estate market. Neither home sales nor inventory increased as much as we would have liked. It’s our feeling that the inventory situation, as well as limiting sales, will continue to put upward pressure on prices, until they reach levels sufficient to entice potential sellers who are now sitting on the fence to enter the market. The regional economic outlook remains strong and we expect that will continue to fuel buyer demand.

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