Sales:

Home sales declined in Greeley CO in August 2024. There were 75 home sales, down 11.8% from the 85 homes sold in July 2024, but up 25.0% from the 60 sold in August 2023. Year to date sales of 667 homes are up 9.0% from last year’s 612 sales for the same period.

Prices:

Home prices fell in August 2024. The median price fell to $435K from $450K in July 2024, a decline of 3.4%, and the average price fell to $450 from $470K for the same period, a decline of 4.3%. 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 homes for sale in Greeley CO rose 8.8% to 161 on the market at the end of August 2024, up from 148 homes at the end of July 2024. The Month’s Supply of Inventory (MSI) rose to 2.1 months from July 2024’s 1.7 months.

Sales Price vs. List Price: 

In August 2024, homes in Greeley CO sold for 99.6% of asking price, down from July 2024’s 99.4%.

Summary:

August is generally a slower month, as vacation, back-to-school and other late summer activities compete for time and attention. And the continuing effects of economic uncertainty, high interest rates and inflation continue to dampen enthusiasm for major personal financial moves. There is certainly a reasonable baseline of real estate activity, but the market lacks any real energy or enthusiasm, as it has for most of this past year.

We anticipate little change in market conditions until there is more clarity about where the economy and our current political and social issues are heading, and that’s at least not until after the November elections, and more likely until Spring of 2025.

As always, we’ll be keeping a close watch on all things real estate 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 chat about real estate, please give us a call – we’d love to talk to you.