This is the September 2024 Real Estate Market Report for Loveland CO
Sales:
Sales of homes rose in Loveland CO during August 2024. 142 homes sold, up 10.9% from the 128 sold in July 2024, but down 6.6% from the 152 sold in August 2023. Year to date sales of 975 homes are down 9.4% from last year’s 1,076 sales for the same period.
Prices:
Home prices rose in August 2024. The median price gained 8.0% to $594K from $550K in July 2024, while the average price was up 7.8% to $721K from $669K for the same period. Please keep in mind that these results reflect only those specific homes sold during the month, and are therefore subject to random variations, but the trend over the last six months remains relatively stable.
Inventory:
The inventory of homes in Loveland CO rose again in August 2024, reaching another three-year high with 376 homes available for sale at the end of the month, up 14.6% from the 328 homes for sale at the end of July 2024. The Month’s Supply of Inventory (MSI) held steady at July 2024’s 2.6 months.
Sales Price vs. List Price:
In August 2024, homes in Loveland CO sold for 98.2% of asking price, down from 98.5 in July 2024.
Summary:
August is generally a slower month, as vacation, back-to-school and other late summer activities compete for time and attention. And the continuing effects of economic uncertainty, high interest rates and inflation continue to dampen enthusiasm for major personal financial moves. There is certainly a reasonable baseline of real estate activity, but the market lacks any real energy or enthusiasm, as it has for most of this past year.
We anticipate little change in market conditions until there is more clarity about where the economy and our current political and social issues are heading, and that’s at least not until after the November elections, and more likely until Spring of 2025.
As always, we’ll be keeping a close watch on all things real estate and will do our best to keep you informed about what we’re seeing. In the meantime, if you have questions or just want to chat about real estate, please give us a call – we’d love to talk to you.