This is the October 2015 Real Estate Market Report for Loveland CO
Loveland home sales continued their seasonal decline in September 2015, down 5.4% to 202 sold from 213 in August 2015, but up 3.6% from 195 sold in September 2014. This is a normal and expected occurrence as we move closer to the holidays and colder weather, and sales can be expected to fall moderately for the remainder of the year. We do expect sales to exceed last year’s results, though.
Prices fell slightly as well in September 2015 - the median price fell 1.6% to $317K from $322K in August 2015, and average price fell 3.4% to $355K from $367K in August 2015. As in past months, these changes are likely just statistical variation in month to month home sale prices. The longer-term trend line continues to point to positive growth in home values.
Available inventory gained 4.8% to 437 homes on the market, up from 417 in August 2015, pushing the month’s supply of inventory to 2.2 months. This is a welcome result, moving toward a more balanced market, but homes are still in short supply - we remain in a strong seller’s market at this time.
The Loveland real estate market performed as expected in September 2015 - sales and prices experienced modest declines, while inventory rose a bit. As we move further into fall, we expect to see sales continue to decline gradually, and for inventory to fall as well. But buyer demand is expected to remain strong, driven by on-going strength in the regional economy, and 2015 should finish as a very good year for the Loveland real estate market.
If you'd care to browse the available inventory, check out Homes for Sale in Loveland CO. When you find something that looks interesting, please give us a call - we would be delighted to schedule a showing for you at your convenience.