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



 Loveland Home Sales March 2021

224 homes sold in Loveland CO in March 2021, a sharp rise of 48.3% from the 151 homes sold in February 2021, and up 12.0% from the 200 homes sold in March 2020. While the pattern is a familiar spring one, there are other factors at work here.



 Loveland Home Prices March 2021

Home prices rose in March 2021. The median price rose 0.9% to $429K from $425K in January 2021, while the average price rose 1.3%, to $514K from $507K. We expect to see prices continue to rise as inventory remains far short of meeting buyer demand..



 Loveland Home Inventory March 2021

Inventory is critically low in Loveland CO. There were only 90 homes on the market at the end of March 2021, a new three-year low and a drop of 7.8% from the 99 homes for sale at the end of February 2021. The Month’s Supply of Inventory (MSI) fell to 0.4 months, as strong sales consumed low inventory.

This is obviously not going to be a normal spring season for real estate. While buyer demand is strong, and seems to be growing, historically low inventory levels are putting strong upward pressure on home prices. At some point, as we continue to make progress with the pandemic, those higher prices will incentivize more homeowners to offer their homes for sale. But that upward price movement is being seen in all segments of the market, so sellers may face price as well as availability issues in finding suitable replacements. This is all going to take some time to play out and reach some equilibrium, so we expect the market to remain chaotic for at least the next several months, with sellers holding the upper hand and buyers facing strong competition and limited choice.