This is the February 2022 Real Estate Market Update for Greeley CO



 Greeley CO Real Estate Sales January 2022

With the ongoing shortage of available homes, it isn’t surprising that Greeley CO home sales fell in January 2022. There were 75 homes sold, down 65.3% from the 124 sold in December 2021, and down 1.3% from the 76 homes sold in December 2020. homes. Homes sold for 101.1 of list price during the month.



 Greeley CO Real Estate Prices January 2022

Home prices continued to rise in January 2022. The median price rose 3.9% to $434K from $425K in December 2021, while the average price rose 4.7% to $445K from $425K during the same period. With scant inventory, monthly price variations are more likely to reflect available inventory prices than any changes in home values, although those are no doubt trending upward.



 Greeley CO Real Estate Inventory January 2022

The inventory of available homes grew last month, to 63 homes on the market at the end of the month, up 10.5% from last month’s 57 homes. The Month’s Supply of Inventory (MSI) rose to 0.8 months in response to sales drops and inventory gains.

The January real estate market offered little change from previous months. Inventory remains critically low, with 63 available homes for 105K+ population. Rapid price increases are shutting the door to home ownership to more of that population. Those buyers who either can or must be in the market now are finding fierce competition and a brutal seller’s market, but one that is operating well below sustainable levels of activity. The economic outlook, with likely interest rate increases in coming months, isn’t positive in the short run either, but the pandemic and its associated challenges have sharpened our skills at dealing with difficult challenges. Unlike 2008, it isn’t the real estate sector that is driving the market - nor suffering the worst of its effects - but we are most definitely along for the ride. And we don’t see much change coming in the immediate future.