Sales:

98 homes sold in Loveland CO in February 2024, a gain of 7.7% from the 91 homes sold in January 2024, and a gain of 3.2% from the 95 sold in February 2023. While not dramatic, February's sales results are a typical start to a more active Spring market.

Prices:

Home prices rose in February 2024, with the median price up 6.0% to $530K from $500K in January 2024, and the average price up 16.8% to $667K from $571K for the same period. We never read too much into monthly price movements as they only represent those specific homes that sold during the month and can vary widely - but they are useful points on the trend line.

Inventory:

The Loveland CO inventory of homes for sale rose to 191 homes for sale at the end of February 2024 from 186 homes for sale at the end of January 2024. The Month's Supply of Inventory (MSI) fell to 1.9 months from January 2024's 2.0 months.

Sales Price vs. List Price:

In February 2024, homes in Loveland CO sold for 98.3% of asking price, down from 99.3% in January 2024.

Summary:

February's sales growth, and a corresponding gain in inventory, indicate that the market is moving into a more active phase after the usual slowdown for winter and the holidays. The rise in prices seems to reflect specific monthly sales rather than any upward price pressure, and we hesitate to read too much into a single month's price results, as they are indicative of only those specific homes that sold during the month. Inventory remains in good supply, sufficient to meet current buyer interest without encouraging downward price pressure.

But it's still just the beginning of March, and there are simply too many unknowns and too much economic uncertainty in play for a clear picture of the coming market to emerge. As always, we'll be keeping a close eye on it all and we'll be here to keep you informed. If you have any questions or just want to chat about what's happening in the market, please give us a call - we'd love to talk to you.