This is the June 2021 Real Estate Market Report for Greeley CO
Greeley CO home sales were up in June 2021, with 126 homes sold, an increase of 16.7% from the 108 sold in May 2021, and an increase of 7.7% from the 117 homes sold in June 2020. Year-to-date sales of 601 homes are up 6.2% from last year’s sales of 566 homes.
Home prices were mixed in June 2021, with the median price down 0.8% to $375K from $378K in May 2021, while the average price was up 8.0% to $432K from $400K, during the same period. These small variations are common, reflecting the sale prices of the specific homes that sold during the month.
Inventory levels at the end of June 2021 were unchanged from May 2021, at 144 homes for sale, far short of meeting home buyer demand. With sales outpacing availability, the Month’s Supply of Inventory (MSI) fell to 0.3 months, or only 10 days at current sales levels.
The Greeley CO real estate market has shown some signs of improvement over the last two months - inventory levels have risen, price pressure may be moderating a bit, and, on the ground, we’re seeing a bit less frenzy among buyers. The combination of high buyer demand and low inventory during a period of extreme uncertainty presented us with unprecedented market conditions that may be easing, and we hope to see upward pressure on home prices to slow. That’s good news but it’s too short a period to make predictions from, and economic conditions are yet to show real stability. A new equilibrium will eventually emerge that will reflect the new realities of the marketplace, but it’s still too early to see what that’s going to look like.