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Greeley CO Real Estate Market Trends - October 2015
This is the October 2015 Real Estate Market Report for Greeley CO
Instead of the expected seasonal fall slowdown in real estate activity, Greeley home sales increased in September 2015 to 169 sold, up 11.2% from 152 in August 2015, and up 8.3% from 156 sold in September 2014. This is a good sign that regional buyer demand is maintaining its strength, particularly in the more affordable price ranges.
Home prices also increased in August 2015, with the median price up 2.5% to $242K from $236K in August 2015. The average price held steady at $252K from August 2015. With these numbers representing only those homes sold in a particular month, the longer term trend for home prices is a better indication of upward movement in home values.
Inventory also rose, with the number of available homes growing to 252, up 5.9% from 238 in August 2015. But because of stronger sales activity, the months supply of inventory (MSI) dropped to 3.1 months, indicating a move away from market balance and into the seller’s favor.
As was the case last month, the Greeley real estate market is showing no hurry to begin the expected seasonal slowing of activity. Sales, home prices and inventory all ... more
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