Sales:

Loveland home sales dropped 12.0% in June 2017, falling to 241 homes sold from 270 in May 2017, but were up 12.6% from the 214 sold in June 2016. A look at the graph suggests that the May 2017 sales number appears to have been an anomalous spike, as 2017 continues to show improvement over the previous year.

Price:

Loveland home prices continue to rise, with median price climbing to $357K in June 2017, up 2.0% from $350K in May 2017, and average price up 6.5% to $429K from $403K in May 2017. As we always mention, this data shows month-to-month variations in the prices of homes that actually sold, so we look to the long-term trend line for a longer view, and continue to see increases in home values there.

Inventory:

After May’s strong gain, inventory continued to increase, rising to 435 homes on the market, up 5.6% from 412 homes for sale in May 2017. While welcome, we still don’t feel that inventory is sufficient to provide balance in a market where demand remains high. The Month’s Supply of Inventory (MSI) rose to 1.8 months, which still shows a strong seller’s market.

Summary:

With the exception of the sales drop from the previous month, which doesn’t seem to indicate anything significant at this point, the market performed as expected. With the regional economy continuing to show positive signs of growth, the reported price increases are most likely a consequence of low inventory remaining insufficient to meet continuing high buyer demand. This is a complicated market, and it’s unclear still how all of the factors affecting it will come together to provide some much needed balance over the next 12-18 months, but we’ll be watching it closely for emerging trends.

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