This is the July 2019 Real Estate Market Report for Greeley CO
Home sales in Greeley CO posted a large decrease in June 2019, with 133 homes sold, a drop of 35.3% from the 180 sold in May 2019, and a drop of 2.3% from the 136 sold in June 2018. However, the May result is the one that seems the more unusual of the two, so we’re not giving much significance to it at this time.
Home prices in Greeley CO were down in June 2019. The median sales price fell 3.1% to $326K from $336K in May 2019, while the average price fell 1.2% to $333K from $337K in May 2019. These results are most likely random variation, and the long-term trend line continues to move upward at a relatively slow pace compared to other northern Colorado communities.
Inventory rose in June, up 12.2% to 138 homes for sale at the end of the month, from the 123 homes for sale at the end of May 2019. The Months Supply of Inventory (MSI) rose to 1.0 months, still showing a strong seller’s market.
The Greeley real estate market is having a fairly typical summer season, with sales and inventory results at levels somewhat improved over recent years. But price increases over the last couple of years have depressed entry level sales activity, taking some dynamism out of the market. The lack of affordable housing is an issue that the community needs to address, as the consequences aren’t likely to be beneficial in the long run.