Sales:

Home sales in Loveland fell once again in July 2017, dropping 13.1% to 213 homes sold from 241 in May 2017, but were up 1.4% from the 210 sold in July 2016. While sales decreases in the midst of what should be the strongest time of year for good results are not ideal, 2017 results are still well in front of those of 2016.

Prices:

Loveland home prices were mixed in July 2017, with median price rising 1.7% to $363K from $357K in June 2017, and average price dropping 0.9% to $425K from $429K in May 2017. Keep in mind that price data regularly fluctuates month-to-month, so a look at the long-term trend line will give us the best idea of what is happening to home values - that continues to show a strong upward trend.

Inventory:

Inventory continued to rise, with a moderate gain of 1.8% to 443 homes on the market at the end of July 2017, up from 435 homes for sale in June 2017. Inventory remains less than optimal for market balance, with demand remaining high. The Month’s Supply of Inventory (MSI) rose to 2.1 months in response to lower sales, still a strong seller’s market.

Summary:

What appeared to be a strong year for Loveland home sales has moderated significantly, but is still running well ahead of 2016, and with inventory at higher levels as well, the market is looking a bit better in terms of strength and stability. But the on-going upward trend in home prices reflects the disconnect from high buyer demand generated by a very strong regional economy and lower than optimal inventory. The market is a complicated one at this point and we expect that the next several months will give us a better feel for how the rest of the year will play out. We’ll keep you informed.

If you would like to browse the current inventory, take a look at Homes for Sale in Loveland CO. When you find a home that interests you, please give us a call - we would be delighted to schedule a showing for you at your convenience.