This is the December 2021 Real Estate Market Report for Greeley CO



 Greeley CO Real Estate Sales December 2021

Greeley CO home sales increased again in December 2021, with 124 homes sold, up 5.1% from the 118 sold in November 2021, and a gain of 5.8% from the 117 homes sold in December 2020. Total sales of 1,370 homes are down 1.5% from last year’s total sales of 1,391 homes.



 Greeley CO Real Estate Prices December 2021

Home prices were mixed in December 2021. The median price rose 3.9% to $425K from $409K in November 2021, while the average price fell 1.2% to $425K from $430K during the same period. During 2021, the median price rose 19.4% and the average price rose 18.0%.



 Greeley CO Real Estate Inventory December 2021

The inventory of available homes fell in December 2021. There were 57 homes available for sale at the end of the month, a drop of 26.3% from last month’s 72 homes. The Month’s Supply of Inventory (MSI) declined to 0.6 months in response to sales gains and inventory declines.

Pandemic effects, economic uncertainty and seasonal slowing have all combined to create a uniquely weird real estate market. Let’s begin with the fact that the entire market is functioning well below what would be equilibrium for an area of this size and population. While we’ve never seen the inventory of homes available for sale anywhere near the current levels, low inventory is just one of the factors at work here. We’re also seeing a dramatic shrinking of the buyer pool, as the laws of supply and demand raise home prices, and stiff competition limits participation to buyers able to make very attractive offers. While home prices will most likely not decline with anything short of widespread economic difficulty, it’s probably going to take time and a sustained and broad recovery to bring the market back to anything approaching long-term stability. We’ll likely be seeing current conditions extended well into 2022.