This is the December 2019 Real Estate Market Update for Loveland CO
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.
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.
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.