This is the November 2021 Real Estate Market Update for Greeley CO



 Greeley CO Real Estate Sales November 2021

Greeley CO home sales rose in November 2021, with 118 homes sold, a gain of 7.3% from the 110 sold in October 2021, and a gain of 5.4% from the 112 homes sold in November 2020. Year-to-date sales of 1,246 homes are down 2.2% from last year’s sales of 1,274 homes for the same period.



 Greeley CO Real Estate Prices November 2021

Home prices were mixed in November 2021. The median price fell 1.5% to $409K from $415K in October 2021, while the average price gained 2.4% to $430K from $420K during the same period. The long-term trend line shows substantial price gains over the last year.



 Greeley CO Real Estate Inventory November 2021

Inventory declined as expected for the season in November 2021. There were 72 homes available for sale at the end of the month, down 26.4% over last month’s 91 homes. The Month’s Supply of Inventory (MSI) fell to 0.6 months in response, as sales gains combined with the fall in inventory..

A look at the above charts tells the story. Sales have been more or less normal, but really only in amount, since market and overall economic conditions are far from normal. But inventory is at historic lows, so competition for the limited homes on the market has led to sustained upward price pressure. That’s supply and demand in a nutshell. But it’s vastly more complicated by pandemic effects on the economy - general uncertainty combined with fears of inflation, supply chain issues, worker shortages, political turmoil, and so on. These factors are driving the bus and the real estate industry is simply along for the ride. For the immediate future, we’ll be reporting rather than predicting, and hoping for good news.