This is the July 2024 Real Estate Market Report for Greeley CO

 

Sales:

Greeley CO Real Estate Sales - July 2024

Home sales were down in Greeley CO during June 2024. 87 homes sold, a drop of 21.7% from the 111 homes sold in May 2024, but a gain of 16.0% from the 75 sold in June 2023. Year to date sales of 507 homes are up 6.3% from last year’s 477 sales for the same period.

 

Prices:

 Greeley CO Real Estate Prices - July 2024

There was little change in home prices in June 2024. The median price was unchanged at $449K from May 2024, and the average price fell 1.5% to $454 from May’s $461K for the same period.

 

Inventory:

 Greeley CO Real Estate Inventory - July 2024

The inventory of homes for sale in Greeley CO fell slightly at the end of June 2024 to 131 on the market from 133 homes for sale at the end of May 2024. The Month’s Supply of Inventory (MSI) rose to 1.5 months from May’s 2024’s 1.2 months.

 

Sales Price vs. List Price:

 Northern Colorado Sales Price vs. List Price - July 2024

In April 2024, homes in Greeley CO sold for 99.5% of asking price, down from May 2024’s 99.2%.

 

Summary:

With sales falling slightly, and inventory and home prices essentially unchanged, it’s pretty clear that the market is slow. In more typical years past, we would have seen higher gains in sales resulting in less available inventory earlier in the year. Prices have remained fairly stable, although higher inventory may begin to exert some downward pressure on prices.

In any event, current economic conditions don’t support a strong real estate market at this time. Interest rates remain high, inflation is still a concern, and there’s continuing feeling of uncertainty about where the economy is going that is having a dampening effect on home sales.

Homes are still being bought and sold – just a bit more slowly than we’ve become accustomed to. And we’re still not seeing either any major instability or stimulus affecting real estate specifically at the local, state or national levels. We think we’ll see little change through the remainder of the summer and into fall. But we’ll be keeping a close eye on what’s happening, and we’ll let you know what we’re seeing and thinking.

In the meantime, please give us a call if you have any questions or just want to chat about what’s happening – we’d love to talk to you.