Sales:

Loveland ended 2015 on a high note, with sales increasing 23.7% to 167 sold, up from 135 sold in November 2015, the third year in a row that December sales topped November. Comparing total annual sales for the last 3 years, we find that 2015’s 2121 sales showed an 8.1% gain over 2014’s total of 1962 and a 4.5% gain over 2013’s total of 2029.

Prices:

Prices in December 2015  were mixed in Loveland - the median price gained 3.6% to $312K from $301K in November 2015, but average price fell 5.3% to $339K from $357K in November 2015. Looking at the trend line for end-of-year prices, we find that the 2015 median price was up 5.8% over 2014 and 13.5% over 2013, while the 2015 average price gained 6.6% over 2014 and 5.3% over 2013.

Inventory:

Loveland inventory dropped 16.7% in December to  311 homes on the market, down from 363 in November 2015. As a result of strong sales and the drop in inventory, the Month’s Supply of Inventory fell to 1.9 months. Inventory shrinkage in the winter months is a normal occurrence - we should start seeing these numbers rise in early spring.

Summary:

Loveland’s real estate market had a good year in 2015, exceeding sales in each of the previous two years. An imbalance between buyer demand for homes and the available inventory generated some upward price pressure, but Loveland’s market maintained better balance than other northern Colorado communities. With the expected continued job growth in the regional economy, demand is likely to remain high, so 2016 will depend on the willingness of potential sellers to place their homes on the market. We’ll have a better feel for how that will play out as we move into the busier spring season.

If you would like to see the homes currently on the market, check out Homes for Sale in Loveland CO. When you find a home you want a closer look at, give us a call - we would be delighted to schedule a showing for you at your convenience.