This is the July 2020 Real Estate Market Update for Loveland CO
Home sales showed strong gains in Loveland CO during June 2020. 282 homes sold, up 131.1% from the 122 homes sold in May 2020, and up 38.2% from the 204 homes sold in June 2019. Year-to-date sales for 2020 are 967 homes sold, down 1.2% from the 979 homes sold during the same period last year.
Home prices fell slightly in June 2020. The median price dropped to $400K, down 1.5% from $406K in May 2020, while the average price dropped 5.1% to $450K from $473K for the same period. We don’t believe that these minor fluctuations represent significant pandemic influences at this time.
The inventory of homes available for sale fell in June 2020, with 334 homes on the market at the end of the month, a decline of 9.6% from the 366 homes on the market at the end of May 2020. The Month’s Supply of Inventory (MSI) fell sharply to 1.2 months, as home sales strongly outpaced any inventory gains.