This is the 2019 Real Estate Market Summary for Greeley CO

 

Sales:

 Greeley CO Home Sales - December 2019

While closely mirroring the sales patterns of 2018, Greeley’s 2019 home sales of ended the year slightly ahead, with its 1,505 sales 3.0% higher than the previous year’s sales of 1,461, and 5.4% higher than the 1,428 sales of 2017.

 

Prices:

 Greeley CO Home Prices - December 2019

Greeley home prices moved up moderately in 2019. Median prices ended the year 7.4% higher than they began, while average prices gained 2.5%.

 

Inventory:

Greeley CO Home Inventory - December 2019

For the last several years, the Greeley real estate market has experienced a state of imbalance, most of the time being a strong seller’s market. This worsened a bit in 2019, with most months hovering close to 1 month’s supply of inventory.

 

Summary:

The performance of Greeley’s real estate market in 2019 was very similar to the previous two years. Sales grew moderately, with almost identical patterns. There has been a chronic shortage of inventory, creating persistent upward pressure on prices as buyer demand remains high. This has all lead to a structural change for the housing market, as Greeley no longer offers substantial options to buyers in the affordable price range. While the regional economy remains strong and continues to drive housing demand, the local lack of inventory to meet that demand limits the potential economic benefits to the community. 2020 will be an interesting year, with external economic and other issues potentially playing a larger role locally.