This is the March 2022 Real Estate Market Report for Greeley CO



 Greeley CO Real Estate Sales February 2022

Greeley CO home sales rose in February 2022. There were 112 homes sold, a gain of 49.3% from the 75 sold in January 2022, and up 24.4% from the 90 homes sold in February 2021. homes. Homes sold for 101.6% of list price during the month.



 Greeley CO Real Estate Prices February 2022

Home prices rose in February 2022. The median price gained 1.2% to $439K from $434K in January 2022, while the average price gained 0.7% to $448K from $445K during the same period. The imbalance between low inventory and high demand continues to exert upward pressure on home prices.



 Greeley CO Real Estate Inventory February 2022

The inventory of available homes declined last month, to 51 homes on the market at the end of the month, a drop of 23.5% from last month’s 63 homes. The Month’s Supply of Inventory (MSI) fell to 0.5 months in response to sales gains and inventory losses.

While sales showed gains in February 2022, what we’re seeing is most definitely not the usual spring awakening from the slow winter market. Few potential sellers have responded to higher home values, so inventory has remained well below what is needed. The buyer pool, though small, is apparently much higher, so multiple offers and contracts significantly higher than listing price are increasingly common. Of more concern, buyers at what used to be the low-to-mid levels of the market are simply being out-priced and out-competed. The real estate market is shrinking as home ownership becomes less accessible. Uncertainty - presently in great supply from the economy, the events in Ukraine, political upheaval, and on-going pandemic effects - is always the enemy of market stability. It’s going to take a while to get this back to normal.