This is the February 2021 Real Estate Market Update for Loveland CO

 

Sales:

 Loveland Home Sales February 2021

151 homes were sold in Loveland CO during February 2021, up 54.1% from the 98 homes sold in January 2021, and up 49.5% from the 101 homes sold in February 2020.

 

Prices:

 Loveland Home Prices February 2021

Home prices fell in January 2021. The median price dropped 4.0% to $424K from $442K in January 2021, while the average price dropped 3.2%, to $507K from $523K. These results are for the specific homes sold during each month, so month-to-month variations like these are expected.

 

Inventory:
 Loveland Home Inventory February 2021

The steady drop in inventory from May 2020 to the present continues. Only 97 homes were available for sale at the end of February 2021, a new three-year low and a drop of 15.4% from the 112 homes for sale at the end of February 2021. The Month's Supply of Inventory (MSI) fell to 0.6 months, as strong sales consumed low inventory.

 
Summary:
 
Our traditional winter slowdown is not the main factor driving current market performance. Rather, unusually high demand paired with record low inventory, even for this season, has brought on very active, but relatively small, levels of sales. We don't have a good explanation other than pent-up demand to account for current high buyer interest, and we assume that the inventory shortage is associated with the pandemic and a reluctance to open homes to unknown visitors. But the price pressure is obvious - homes are selling region-wide at an average higher than list price. And we may not have seen the full economic impacts from the pandemic yet. Here we are, about to enter what is usually our busiest season for real estate, and we can only say that it's going to be an interesting year and that we'll keep you informed as it unfolds. Stay tuned.