Sales:

Home sales rose in Loveland CO in October 2024. 126 homes sold, up 26% from the 100 sold in September 2024, and up 16.7% from the 108 sold in October 2023. Year to date sales of 1,201 homes are down 8.4% from last year’s 1,310 sales for the same period.

Prices:

Home prices also rose in October 2024. The median price gained 3.8% to $572K from $551K in September 2024, while the average price was up 1.7% to $648K from $637K for the same period. Please keep in mind that these results reflect only those specific homes sold during the month and are therefore subject to random variations.

Inventory:

 
The inventory of homes in Loveland CO fell in October 2024, with 375 homes on the market at the end of the month, down 4.4% from the 392 homes for sale at the end of September 2024. The Month’s Supply of Inventory (MSI) fell to 3.0 months from September 2024’s 3.9 months.

Sales Price vs. List Price:

In September 2024, homes in Loveland CO sold for 98.3% of asking price, up from 97.6 in September 2024.

Summary:

Somewhat unexpectedly, October 2024 brought a return to sales and price gains along with the usual seasonal drop in inventory. We suspect that the most important factor driving these results was the preceding drop in interest rates, which allowed some buyers to undertake purchases they had previously deferred because of higher rates.

Looking ahead, there is still a lot of economic uncertainty in the economy, with substantial changes in underlying conditions signaled by the incoming Trump administration. How these will affect the real estate market isn’t yet clear. We’re also on the cusp of our slower winter season, so we’re not expecting to see anything really significant in the next several months.

As usual, we’ll be watching the real estate market closely and will do our best to keep you informed about what we’re seeing. In the meantime, if you have questions or just want to talk about real estate, please give us a call – we’d love to hear from you.