This is the January 2019 Real Estate Market Update for Loveland CO
Home sales in Loveland CO were up 8.8% in December 2018 to 149 sold, from 137 sales in November 2018, but were down 18.1% from the 176 homes sold in December 2017. There were 1,988 sales during 2018, compared to 2,340 sales during 2017, a drop of 17.7%.
Home prices fell in December 2018, with the median price dropping 9.5% to $370K from $405K in October 2018, and average price dropping 7.2% to $414K in December 2018 from $444K in October 2018. And the long-term trend line, a better source of understanding of where the market is heading, while still indicating rising home values, appears to be flattening a bit.
As expected, the inventory of homes for sale in Loveland CO dropped in December 2018, to 290 homes on the market at the end of the month, down 20.7% from 350 homes for sale at the end of November 2018. The Month’s Supply of Inventory (MSI) fell to 1.9 months as a result.
Looking back at the past year, the performance of the Loveland CO real estate market appears to have been most heavily impacted by a lack of available inventory, with significantly fewer homes on the market than in previous years. Demand from buyers remained strong as a result of a strong regional economy and job growth, but those buyers faced a difficult market and strong competition from other buyers, and many may have sought other alternatives to buying, While it’s certainly too early to make predictions for the coming years, we see no reason to expect much change from this year’s trends.