This is the February 2024 Real Estate Market Update for Loveland CO
There were 91 home sales in Loveland CO in January 2024, a drop of 8.7% from the 99 homes sold in December 2023, but a gain of 3.2% from the 89 sold in January 2023.
The price of homes sold in January 2024 fell, with the median price down 3.0% to $500K from $515K in December 2023, and the average price down 3.5% to $571K from $591K for the same period.
The inventory of homes for sale in Loveland CO fell to 186 homes for sale at the end of January 2024 from 207 homes for sale at the end of December 2023. The Month’s Supply of Inventory (MSI) fell to 2.0 months from December 2023’s 2.1 months.
Sales Price vs. List Price:
In January 2024, homes in Loveland CO sold for 99.3% of asking price, up from 98.9% in December 2023.
January is almost always a slow month, and January 2024 was no exception. The regional housing market lacked energy, with sales and inventory both at low levels. Prices were merely reflective of the specific homes sold – relatively low demand and the high supply of homes argue against any real upward price pressure.
To date, there are no indications that improvements in the national economy from job gains and slowing inflation, as well as declining interest rates, are having a significant impact on housing. But while high prices and economic uncertainty remain on-going concerns for buyers and sellers alike, the economy is headed in a positive direction.
But it’s still way too early to predict what the market will look like once it enters its more active phase in the coming months. We’ll be watching carefully and will do our best to keep you informed. And if you have any questions or just want to chat about what’s happening in the market, please give us a call – we’d love to talk to you.