This is the November 2019 Real Estate Market Report for Loveland CO
Counter to our expectations, Loveland CO home sales rose in September 2019, to 172 homes sold, up 12.4% from the 153 sold in September 2019, and up 8.9% from the 158 sold in October 2018. The year-to-date sales are 1.6% higher than last year, with 1730 sold so far in 2019, compared to the 1702 sold during the same period in 2018.
Loveland CO home prices fell during October 2019, with the median price down 6.5% to $370K from $394K in October 2019, and the average price down 6.0% to $430K from $456K in October 2019. With these numbers representing only those specific homes sold during the month, it’s worth noting that fall/winter results normally show declines during this season.
The number of homes on the market also fell, with 363 homes for sale at the end of October, a drop of 19.3% from the 433 homes on the market at the end of September 2019. The Month’s Supply of Inventory (MSI) fell to 2.1 months, as sales rose and inventory fell.
The Loveland CO real estate market did offer a surprising result this month, with sales rising instead of dropping off as would be expected from the slower season. In regards to prices, their decreases this month may be normal for the season, so we’re going to wait for more active times to draw any conclusions there. And the drop in inventory is always expected at this time. And we also think seasonal effects will obscure any impacts from uncertainty about the economy, though we may be seeing some of that. As is usual for real estate, we’ll ride out this season, and have a better idea what’s happening next spring.