This is the August 2016 Real Estate Market Update for Loveland CO
Sales:
Loveland home sales dropped slightly in July 2016 to 210 homes sold from 214 in June 2016, a drop of 1.9% and were down 3.8% from the 218 homes sold in July 2015. This decline follows the pattern of the previous 2 years, which also showed slight declines in July sales.
Prices:
Home prices were again mixed in July, 2016 - the median price fell 1.2% to $346K from $350K in June 2016, while average price rose 3.2% to $388K from $376K in June 2016. It’s doubtful that these variations signify anything more than month-to-month differences in the homes that actually sold - of more importance is the long-term trend, which continues to suggest rising home values.
Inventory:
The inventory of homes for sale showed a welcome gain of 14.4%, growing to 382 homes for sale at the end of July 2016 from 334 at the end of June 2016. The Month’s Supply of Inventory rose to 1.8 months, continuing to indicate a strong seller’s market in effect.
Summary:
The Loveland real estate market looks solid, with the slight drop in sales most likely the expected beginning of seasonal effects, prices essentially holding, and a nice jump in inventory to help meet strong buyer demand. Regional economic growth and employment gains suggest positive momentum in the real estate market, although the on-going strong seller’s market will present continuing difficulties for buyers, as they face competition and rising prices. As usual, the coming months will give us a better idea of what to expect.
If you would like to browse the current inventory, check out Homes for Sale in Loveland CO. When you find something that interests you, please give us a call - we'd love to schedule a showing for you at your convenience.
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