This is the June 2020 Real Estate Market Update for Loveland CO

 

Sales:

 Loveland CO Home Sales May 2020

In what is traditionally our busiest season, home sales declined in Loveland CO during May 2020 for the second consecutive month. 122 homes sold, down 32.0% from the 161 homes sold in April 2020, and down 55.7% from the 219 homes sold in May 2019.

 

Prices:

 Loveland CO Home Prices May 2020

Home prices were mixed in April 2020, but without significant changes.. The median price rose to $406K, a gain of 2.0% from $398K in April 2020, while the average price fell 1.9% to $473K from $482K for the same period. Significant pandemic impacts are most likely not yet a factor in these numbers.

 

Inventory:

 Loveland CO Home Inventory May 2020

The inventory of homes declined in May 2020, with 366 homes for sale at the end of the month, a drop of 8.2% over the 396 homes for sale at the end of April 2020. The Month’s Supply of Inventory (MSI) rose to 3.0 months, as inventory and sales both declined.

 
 
Summary:
 
A close look at the trends over time in the charts above provides a useful context for understanding what’s currently happening in the Loveland CO real estate market, particularly in regards to sales and inventory data. The impact of the pandemic on home prices will most likely lag by a couple of months. It is also useful to keep in mind that this month’s sales and price data are based on sales contracts that occurred mostly in March and April, 2020, so we’re seeing effects from the early days of the pandemic, with most real estate activities beginning to be curtailed by restrictions. We’ll keep you updated as the situation changes, and if you have real estate questions, please give us a call - we’ll do our best to answer them.