Sales:

Home sales in Greeley fell 11.7% in October 2017, to 111 homes sold, down from 124 in September 2017, and were also down 14.4% from 127 sales reported in October 2016. This is a normal and expected result, due both to the slower fall/winter season and the continuing lack of inventory.

Prices:

Home prices were once again mixed in October 2017, with the median sales price rising 3.9% to $292K from $281K in September 2017, while the average price fell a slight 0.7% to $301K from $303K in September 2017. These changes have little significance, since month-to-month fluctuations in the prices of homes that sold are normal. The long-term price trend line strongly suggests, however, that home values continue to rise.

Inventory:

Inventory declined in October 2017, as expected for the season, falling to 138 homes on the market at the end of the month, down 15.9% from 160 at the end of September 2017. The Months Supply of Inventory (MSI) fell to 1.2 months in response to lower sales and inventory, and is still well within the strong seller’s market range.

Summary:

The Greeley real estate market seems to be settling into the traditionally less active fall season, with sales and inventory declining, and prices mixed but not moving much. This trend should continue into the first couple of months of next year. But even for this slower season, buyer demand will continue to be a factor, as regional economic expansion is forecasted to generate on-going employment growth. We won’t have much of a feel for what 2018 is going to look like until we get there and see what happens to inventory levels, but we’re not expecting much change from 2017.

If you would like to browse the available inventory, check out Homes for Sale in Greeley CO. When you find a home that appears to meet your needs, please give us a call - we'd love to schedule a showing for you at your convenience. And please don't hesitate to contact us if you have any questions about this market report or other real estate topics.