This is the June 2021 Real Estate Market Report for Loveland CO
Sales:
253 homes sold in Loveland CO in June 2021, a gain of 19.3% from the 212 homes sold in May 2021, but down 11.5% from the 282 homes sold in June 2020. Year-to-date sales of 1,156 homes are up 19.5% from 2020's 967 homes.
Prices:
Home prices were mixed in June 2021. The median price was up 8.0% to $540K from $500K in May 2021, while the average price fell 2.1%, to $567K from $573K. While small price variations like these are common, we're hoping that increasing inventory will lessen upward price pressure.
Inventory:
Inventory rose again, to 147 homes
for sale at the end of June 2021, up 20.4% from 122 at the end of May 2021, but still falls short of meeting demand. The Month's Supply of Inventory (MSI) held steady at 0.6 months.
Summary:
The Loveland CO real estate market has shown signs of improvement over the last two months - inventory levels have risen, price pressure is moderating a bit, and, on the ground, we're seeing a bit less frenzy among buyers. The combination of high buyer demand and low inventory during a period of extreme uncertainty presented us with unprecedented market conditions that may have now eased, and we expect upward pressure on home prices to slow. That's good news but it's too short a period to make predictions from, and economic conditions are yet to show real stability. A new equilibrium will eventually emerge that will reflect the new realities of the marketplace, but it's still too early to see what that's going to look like.