Sales:

Loveland home sales declined in February 2017. falling 34.3% to 99 sales from 133 in January 2017, and down 21.2% from 120 sales in February 2016. This is an expected result due to the traditional seasonal winter slowdown, and while a bit steeper than recent February performances, most likely has little significance. But we’ll know a lot more over the next couple of months.

Prices:

Prices, on the other hand, rose, with the median price gaining 7.1% in in February 2017 to $375K, up from $350K in January 2017. Average price also rose, up 6.6% to $420K from $394K in January 2016. While monthly price data tell us little, we can see from the long-term trend line that home values are continuing their steady rise.

Inventory:

Counter to expected seasonal trends, the inventory of homes on the market rose for the second month in a row, with 338 homes for sale at the end of February 2017, up 4.6% from 323 for sale at the end of January 2017. The Month’s Supply of Inventory rose to 3.4 months in response to the drop in sales and rise in inventory.

Summary:

While sales fell during February 2017 in Loveland, and prices and inventory increased, it’s difficult to assign much significance to these changes. Mid-winter variations are more likely to just be the result of some unique market activity, rather than a signal of a market shift - but these do provide, at least for the moment, a better balance between housing demand and available inventory. We still expect, as the market reaches for higher levels of activity in the spring, that demand will remain strong and that inventory may have a hard time keeping up, but we’ll just have to wait a couple of months to see if that happens.

If you want to check out what's currently for sale, take a look at Loveland CO Homes for Sale. When you see a home that appears to be a good match for your needs, give us a call - we would be pleased to schedule a showing for you at your convenience.