Home Sales:

Home sales in Greeley rose 7.5% in August 2017, to 143 homes sold, up from 133 in July 2017, but were down 8.4% from the 155 sales reported in August 2016. 2017 year to date sales of 955 are running 23.0% lower than the 1175 sales for the same period in 2016.

Home Prices:

Home prices were essentially unchanged in August 2017 - the median sales price dropped slightly to $288K from $289K in July 2017, and the average price dropped 1.3% to $300K from $304K in July 2017. While these numbers typically vary from month to month, the long-term trend line continues to suggest rising home values, but perhaps at a somewhat slower rate.

Home Inventory:

Inventory also held steady in August 2017, dropping just slightly to 136 homes on the market at the end of the month, from 137 in July 2017. The Months Supply of Inventory (MSI) remained at 1.0 months with no significant change in sales or inventory, and remains a strong seller’s market with high buyer demand.

Summary:

The Greeley real estate market remains in the doldrums. Home sales are down, prices have risen significantly, and inventory remains inadequate to satisfy strong buyer demand. The regional economy continues to provide economic and employment growth, so demand should remain at high levels, but the increase in prices has so far failed to generate additional homes for sale. Greeley’s previous strength in affordable housing has weakened considerably as prices have risen, and affordable home buyers are finding very limited options.

If you would like to browse the available inventory, take a look at Homes for Sale in Greeley CO. When you find a home that interests you, please give us a call - we'd love to schedule a showing for you at your convenience.