Sales:

Home sales were down in Greeley CO in December 2024. There were 41 homes sold, a drop of 18.0% from the 50 homes sold in November 2024, and a decline of 40.6% from the 69 sold in December 2023. 2023 yearly sales of 909 homes were up 1.3% from 2023’s 897 sales for the year.

Prices:

Home prices fell in December 2024. The median price dropped 1.2% to $435K from November’s $440K, while the average price was down 7.2% to $479K from $516K 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.

Inventory:

The inventory of homes for sale in Greeley CO fell 7.6% to 160 on the market at the end of December 2024, down from 173 homes at the end of November 2024. The Month’s Supply of Inventory (MSI) rose to 3.9 months from November’s 3.5 months.

Sales Price vs. List Price:

In December 2024, homes in Greeley CO sold for 98.7% of asking price, down from November 2024’s 99.2%.

Summary:

The 2024 Northern Colorado real estate market followed the prevailing economic trends, rather than setting them. High interest rates, inflation fears, and uncertainty about future economic stability all had a dampening effect on market activity. It was by no means a bad year for real estate though, and while it may have lacked the energy and enthusiasm of previous booms, it also marked some gradual improvement from the recent past.

For the foreseeable future, the real estate market is likely to remain in a reactionary mode, with buyers’ and sellers’ interest in real estate activity responding to anticipated as well as actual changes in the economic, social and political environment. And as much as we’d like to provide a clear forecast of what to expect, we can’t offer anything much better than the old Magic 8 Ball could.

What we can do is to keep a close watch on the real estate market as it reacts, and report back to you in a timely and accurate manner about what we’re seeing. And as we gain some clarity, we’ll be here to share it with you. And in the meantime, we’re always available to talk – give us a call if you have questions or just want to chat about the market.