Sales:

Home sales declined in Greeley CO in October 2024. There were 69 home sales, down 15.9% from the 82 homes sold in September 2024, and down 5.5% from the 73 sold in October 2023. Year to date sales of 818 homes are up 5.4% from last year’s 775 sales for the same period.

Prices:

Home prices were mixed in October 2024. The median price was essentially unchanged at $424K from September’s $422K, while the average price fell 9.8% to $440K from $488K for the same period. Please keep in mind that these results reflect only those specific homes sold during the month, and are therefore subject to random variations, but the trend over the last six months remains relatively stable.

Inventory:

The inventory of available homes in Greeley CO fell 8.6% to 168 on the market at the end of October 2024 from 175 homes at the end of September 2024. The Month’s Supply of Inventory (MSI) rose to 2.4 months, up from September’s 2.1 months.

Sales Price vs. List Price:

In October 2024, homes in Greeley CO sold for 98.6% of asking price, down from September 2024’s 99.2%.

Summary:

The October 2024 real estate results appeared typical for the start of the slower winter season. We did find it somewhat surprising that the preceding drop in interest rates provided little apparent stimulus for buyers who had deferred purchases due to higher rates.

Looking ahead, there is still a lot of economic uncertainty in the economy, with substantial changes in underlying conditions signaled by the incoming Trump administration. How these will affect the real estate market isn’t yet clear. We’re also on the cusp of our slower winter season, so we’re not expecting to see anything really significant in the next several months.

As usual, we’ll be watching the real estate market closely and will do our best to keep you informed about what we’re seeing. In the meantime, if you have questions or just want to talk about real estate, please give us a call – we’d love to hear from you.