Sales:

Home sales were up in Loveland CO in March 2023. 141 homes were sold, a gain of 48.4% from the 95 sold in February 2023, and a gain of 1.4% from the 139 homes sold in March 2022. 85 homes, or 60.2% of the total sold, were priced over $500K.

Prices:

Home prices were mixed in March 2023. The median price fell 3.6% to $530K from $549K in February 2023, while the average price rose slightly to $639K from $638K. Please note that this data only covers those specific homes sold during those two months.

Inventory:

Loveland CO home inventory rose in March 2023, with 172 homes for sale at the end of the month, up 22.0% from 153 in February 2023. The month’s supply of inventory fell to 1.2 months, as sales gains outpaced inventory.

Sales Price vs. List Price:

In March 2023, homes in Loveland sold for an average of 99.4% of list price, compared to an average of 99.1% in February 2023.

Summary:

The Loveland CO housing market is beginning to show an increase in activity as we move into the busier Spring season.

Sales have begun to increase but are still trending toward the higher end of the market. Prices are increasing as well, as is the sale price vs. list price index. Inventory has begun its usual Spring increase, slowly so far, as is usual for a March result.

The bottom of the market is certainly moving upward, as are prices and interest rates, while the pool of potential buyers decreases because of affordability. As we’re still early into this year’s busier period, we’re going to need a bit more data to determine how much this is going to affect the overall market in general.

But while we still face significant uncertainty about the future of the economy, with inflation, further interest rate increases, and employment stability all points of concern, the real estate market, at this point, remains relatively stable.

As always, we’ll be watching closely, and we’ll do our best to keep you informed. And, as always, we’re here to answer any questions you may have.