This is the August 2019 Real Estate Market Update for Loveland CO
Loveland CO home sales fell in June 2019 to 204 homes sold, down 7.4% from the 219 sales in May 2019, and down 12.7% from the 230 sold in June 2018. The year-to-date sales are very close to last year, with 971 sold in 2018 and 979 sold in 2019.
There was little significant change in home prices in June 2019. The median price fell 2.5% to $408K from $418K in May 2018, while the average price rose 0.2% to $465K from $464K in May 2019. The long-term trend line, a better indicator of home prices and values, continues on an upward path, and will likely continue to do so for the remainder of the busier summer season.
The inventory of homes for sale has shown some welcome increase over the last several months. There were 441 homes for sale at the end of June 2019, up 14.2% from the 386 homes for sale at the end of May 2019. The Month’s Supply of Inventory (MSI) rose to 2.2 months, approaching a state of balance.
There was little change in the Loveland CO real estate market in July 2019, with sales, prices and inventory holding close to what have been average to good results for the busier spring/summer season. We expect a gradual slowing in the coming months - August always seems to be the start of the calmer fall season. The economic forecast for the region suggests continued growth and new employment, so overall demand for housing isn’t expected to change much from its current high levels, and the lack of affordable housing at the bottom end of the market remains an issue of long-term concern.