This is the September 2019 Real Estate Market Update for Loveland CO
Loveland CO home sales declined 3.8% in August 2019 to 209 homes sold, down from the 217 sold in July 2019, but up 6.1% from the 197 sold in August 2018. The year-to-date sales remained up over last year, with 1405 sold so far in 2019, compared to the 1371 sold to date in 2018.
The prices of homes sold in August 2019 rose, with the median price gaining 2.0% to $410K from $402K in July 2019, and the average price gaining 1.9% to $477K from $468K in June 2019. We’re still on an upward slope for the long term trend line, our best indicator for where home prices and values are headed.
The inventory of homes for sale increased in August 2019, with 446 homes on the market at the end of the month, up 1.8% from the 438 homes on the market at the end of July 2019. The Month’s Supply of Inventory (MSI) increased slightly to 2.1 months, in response to lower sales and higher inventory.
Loveland CO’s August real estate numbers are what we expect to see at this time of year, as we begin to work our way into a somewhat slower fall season. There were no surprises with modest sales declines and inventory increases, and we expect that trend to persist in coming months. Home prices will continue to vary month-to-month, but we’re not surprised to see prices generally rising over time, as the strong regional economy continues to generate job growth. Any change in the status quo beyond normal seasonal changes is likely to come from uncertainty about the national economy.