This is the April 2020 Real Estate Market Report for Loveland CO

 

Sales:

 Loveland CO Home Sales - March 2020

Home sales rose significantly in Loveland CO during March 2020. 200 homes sold, an increase of 98.0% from the 101 sales in February 2020, and a gain of 13.6% over the 176 homes sold in March 2019. The impacts of business closures and stay-at-home orders were not yet evident.

Prices:

 Loveland CO Home Prices - March 2020

Loveland CO home prices showed little significant movement. The median price was unchanged from February 2020, holding at $400K, while the average price gained 2.0% to $456K from $447K for the same period. As always, these numbers are based on the specific homes sold during the month, so small variations are expected and normal.

Inventory:

 Loveland CO Home Inventory - March 2020

The inventory of homes for sale performed as anticipated, rising to 362 homes on the market at the end of March 2020, a gain of 25.3% over the 289 homes for sale at the end of February 2020. The Month’s Supply of Inventory (MSI) fell to 1.8 months, however, as sales gains outpaced inventory growth.

 
 
Summary:
 
It certainly looked as if the market were poised for a strong spring season, with inventory and sales both showing strong gains. However, the sales that occurred in March were mostly based on contracts written in January and February, well before the effects of the Covid-19 pandemic impacted everything. Next month’s numbers will tell a different story, as the full impact begins to become visible in the statistics.