This is the November 2019 Real Estate Market Update for Greeley CO
Sales of homes in Greeley CO rose in October 2019. There were 129 sales, a 11.2% increase from the 116 homes sold in September 2019, but still down 17.1% from the 151 sales in October 2018. Year-to-date home sales of 1,304 are up 4.2% over the 1,251 sales for the same period last year.
Greeley CO home prices declined in October 2019. The median sales price was $310K, down 6.8% from the $331K in September 2019, while the average price fell 9.5% to $317K from $347K in September 2019. While these numbers reflect only those specific home that sold during the month, it’s not unusual to see price variations - in either direction - during this slower season.
The inventory of available homes fell during October 2019, dropping 12.5%, to 136 homes on the market at the end of the month, from the 159 homes on the market at the end of September 2019. The Months Supply of Inventory (MSI) fell to 1.4 months, and continues to show a strong seller’s market.
The Greeley CO real estate market data for September showed mixed signs of the area’s move into the slower fall/winter season. The sales increase was mildly surprising, while month-to-month price variations are normal and a drop in inventory is expected. And seasonal effects are going to obscure what’s going on with other factors, such as uncertainty about the economy and its impact on our strong regional economy, so we’ll have to wait for the more active spring season to know whether that will be an issue.