This is the July 2019 Real Estate Market Report for Loveland CO
Loveland CO home sales fell in June 2019 to 204 homes sold, down 7.4% from the 219 sales in May 2019, and down 12.7% from the 230 sold in June 2018. The year-to-date sales are very close to last year, with 971 sold in 2018 and 979 sold in 2019.
There was little significant change in home prices in June 2019. The median price fell 2.5% to $408K from $418K in May 2018, while the average price rose 0.2% to $465K from $464K in May 2019. The long-term trend line, a better indicator of home prices and values, continues on an upward path, and will likely continue to do so for the remainder of the busier summer season.
The inventory of homes for sale has shown some welcome increase over the last several months. There were 441 homes for sale at the end of June 2019, up 14.2% from the 386 homes for sale at the end of May 2019. The Month’s Supply of Inventory (MSI) rose to 2.2 months, approaching a state of balance.
Loveland CO appears to be having a typical summer season for real estate, with sales and inventory both improving, and little significant movement in prices. So far, halfway through the year, 2019 seems a lot like 2018 - a mostly calm market with little of the buying frenzy of several years ago. There is still structural weakness at the bottom of the market, with little opportunity for entry-level and first-time home buyers with limited budgets. As the resulting economic and social changes of this are not likely to be beneficial in the long run, addressing affordable housing opportunities should be an immediate priority,