This is the October 2019 Real Estate Market Update for Greeley CO
September home sales declined in Greeley CO in September 2019. There were 116 sales, a 22.4% drop from the 142 homes sold in August 2019, and down 9.4% from the 127 sales in September 2018. Year-to-date home sales of 1,175 are up 6.8% over the 1,100 sales for the same period last year.
Greeley CO home prices were essentially unchanged in September 2019. The median sales price was $331K, up a tiny bit from the $330K in August 2019, while the average price fell slightly to $347K from $349K in August 2019. While these numbers reflect only those specific home that sold during the month, they are consistent with what we would expect for the season.
Inventory, counter to expectations, rose in September 2019 to 159 homes on the market at the end of the month, up 18.4% from the 138 homes on the market at the end of August 2019. The Months Supply of Inventory (MSI) increased to 1.4 months, and still shows a strong seller’s market.
The September 2019 real estate market data for Greeley CO are beginning to show more indications of a slower fall season. Sales are beginning to fall with less overall activity, and home prices, always somewhat erratic month to month, are still within what we expect from the trend line. The rise in inventory is most likely due to the drop in sales, and should begin to show regular decreases in coming months. While the regional economy remains strong, we’ll be keeping a close eye on the national economy, as uncertainty there could begin to show some local effects.