Sales:

Home sales declined slightly in Greeley in July 2016, down 1.8% to 160 sales from 163 sales in June 2016, but up 8.1% from 148 sales in July 2015. These results are somewhat typical, as we see activity begin to taper off just a bit during this part of the summer season.

Prices:

Home prices increased in July 2016 - the median sales price rose 0.7% to $262K from $260K in June 2016, and the average price gained 3.3% to $278K from $269K in June 2016. The long term trend line continues to suggest rising home values in response to strong buyer demand and limited inventory.

Inventory:

July 2016 brought a welcome 20.6% increase in inventory, with 164 homes available for sale at the end of the month, up from 136 homes at the end of June 2016. The Months Supply of Inventory (MSI) rose to 1.0 months from 0.8 months in June 2016, and while still indicative of a strong seller’s market, will be helpful in relieving some of the pressure on the market.

Summary:

With the exception of the small decline in sales, which we expect is simply a seasonal effect, Greeley’s real estate market showed some positive results in July 2016, with price and inventory both moving upward. Regional economic growth and employment gains are continuing to drive buyer demand, and with the market firmly favoring sellers, we expect that buyers will be facing competition and rising prices for at least the remainder of the year. As always, the next several months will be interesting ones, as seasonal slowing effects begin to appear.

If you'd like to check out the currently available homes, take a look at Homes for Sale in Greeley CO. When you find a home you'd like a closer look at, please give us a call - we'd love to schedule a showing for you at your convenience.