April 2019 home sales in Loveland CO mirrored the results from March 2019, with 176 sold in each, and were up 18.1% from the 149 sold in April 2018. While considerably higher than the previous slower winter months, we had hoped for a bit more growth in these numbers.

Prices:

Home prices were essentially unchanged in April 2019. The median price remained the $400K of February and March 2018, while the average price rose a scant 0.4% to $440K from $438K in February 2019. These numbers are based on the prices of the specific homes sold during a given month, and tend to vary, so we look to the long-term trend as a better indicator of what’s happening with home prices and values. Those look to be flattening out a bit.

Inventory:

The inventory of available homes in Loveland CO rose in April 2019, as expected. There were 331 homes for sale at the end of the month, up 17.3% from the 282 homes for sale at the end of March 2019. The Month’s Supply of Inventory (MSI) rose to 1.9 months, but remains in seller’s market territory.

Summary:

April 2019 showed the Loveland market moving slowly toward a bit of balance as it eases into the spring and summer seasons. Sales and prices were on a par from last month and inventory showed a nice increase. While it’s still early, the market is starting to shape up as a repeat of last year. Buyer demand remains strong, but price increases over the last several years have left a shortage of affordable homes necessary to meet a significant portion of that demand. Those buyers are seeking other housing options, such as renting, and their absence most likely signals a slowing trend in the market that may persist for a while.