This is the February 2020 Real Estate Market Report for Greeley CO
Home sales in Greeley CO declined in January 2020, normal for the middle of the winter season. There were 78 home sales, a 21.4% decrease from the 98 homes sales in December 2019, but a 7.7% gain from the 68 sales in January 2019.
Greeley CO home prices were mixed in January 2020. The median sales price fell to $308K, down 4.1% from $321K in December 2019, while the average price was up 4.6% to $341K from $326K in December 2019. The small number of sales limits the significance of these changes, but the long-term trend line continues to indicate upward movement in prices.
The inventory of available homes continues to drop, with 82 homes for sale at the end of the month, down 19.7% from the 102 homes on the market at the end of December 2019. The Months Supply of Inventory (MSI) rose to 1.1 months, but still indicates a strong seller’s market.
There never is much to say about the real estate market in the dead of winter. There just isn’t much happening, and there are very few reliable indicators to suggest future market trends. But structurally, we don’t see any indications - yet - of any significant change from what the market has done over the last couple of years. So we’re expecting a slow and steady increase in prices, with sales maintaining the previous slower pace, and continuing difficulty for affordable home buyers.