Sales:

There were 118 homes sold in Loveland CO in March 2024, an increase of 20.4% from the 98 homes sold in February 2024, but a decline of 19.5% from the 141 sold in March 2023. Year to date sales of 307 homes are down 5.5% from last year’s 325 sales for the same period.

Prices:

Home prices increased in March 2024. The median price rose 10.4% to $585K from $530K in February 2024, and the average price rose 10.0% to $734K from $667K for the same period. March price results continue a trend of upward price movements in 2024, and are worth keeping a close watch on.

Inventory:

The inventory of available homes in Loveland CO rose to 213 homes for sale at the end of March 2024, up from 191 homes for sale at the end of February 2024. The Month’s Supply of Inventory (MSI) fell to 1.8 months from February 2024’s 1.9 months.

Sales Price vs. List Price:

In March 2024, homes in Loveland CO sold for 99.4% of asking price, up from 98.3% in February 2024.

Summary:

The March 2024 real estate market offered few surprises. As expected, it showed the usual signs of increasing Spring sales and inventory, and price movements well within the trend. But also as expected, these signs were not indicative of any significant emerging strengths or weaknesses. The underlying factors of economic uncertainty continue to moderate both strong enthusiasm and extreme alarm, like much of the rest of the economy. Real estate is being bought and sold where necessary or desirable, in the usual manner, at the moment, and we expect that to continue without dramatic change until larger questions about the economy move toward a clearer resolution.

Meanwhile, the real estate industry is itself about to undergo some major structural changes as a result of some major lawsuit settlements. There are still a lot of unanswered questions concerning what’s going to happen, but as things become more defined, we’ll be keeping you informed about those as well.

If you have questions about what’s happening in the real estate market – or the real estate industry – please give us a call. We’d love to talk to you about what’s going on.