Following the small counter-cyclical spike in October, home sales declined in Loveland CO as expected in November 2019. There were 150 home sales, a drop of 14.7% from the 172 homes sold in October, but a gain of 9.5% from the 137 sold in November 2018. Year-to-date sales of 1,880 are up 2.2% from the 1,839 sold during the same period in 2018.

Prices:

Loveland CO home prices rose in November 2019, with the median price up 4.9% to $388K from $370K in October 2019, and the average price gained 9.8% to $472K from $430K in October 2019. Once again, we caution against assigning too much significance to monthly variations, as they represent only those specific homes sold during the month. The long-term trend line is a more useful guide to what’s happening with home values.

Inventory:

The inventory of homes for sale declined as expected, with 352 homes on the market at the end of November, down 3.1% from the 363 homes on the market at the end of October 2019. The Month’s Supply of Inventory (MSI) rose to 2.3 months, with sales declines outmatching inventory losses.