This is the September 2019 Real Estate Market Update for Greeley CO
Greeley CO home sales fell in August 2019. There were 142 sales, down 5.6% from the 150 homes sold in July 2019, but up 8.3% from the 131 sales in August 2018. Year-to-date home sales of 1,059 are up 8.8% over the 973 sales for the same period last year.
Home prices in Greeley CO rose sharply in August 2019. The median sales price gained 8.2% to $330K from $305K in July 2019, while the average price gained 11.1% to $349K from $314K in July 2019. While these numbers reflect only those specific home that sold during the month, they seem to fall about where the long-term trend line would suggest.
Inventory fell in August 2019, down 4.3% to 138 homes on the market at the end of the month, from the 144 homes on the market at the end of July 2019. The Months Supply of Inventory (MSI) once again held at 1.0 months, and still shows a strong seller’s market.
August 2019 real estate results continue to show some interesting results. While sales edged down as would be expected as we move into a slower fall season, inventory has not yet begun to increase. And while home prices are erratic, the trend line is about where we would expect from an imbalance in supply and demand - heading generally upward. While slower times no doubt lie ahead, a strong regional economy will continue to generate job growth and housing demand. We’ll be watching the national economy closely, though, as uncertainty there could have significant local effects.