This is the May 2021 Real Estate Market Report for Loveland CO



 Loveland CO Real Estate Sales May 2021

Home sales in Loveland CO declined a bit in May 2021, with sales of 212 down 2.8% from the 218 homes sold in April 2021, but up 73.8% from the 122 homes sold in May 2020. Year-to-date sales of 903 homes are up 73.4% from 2020’s 685 homes.Please keep in mind that year-to-year, and even month-to-month comparisons have been heavily influenced by pandemic impacts.



 Loveland CO Real Estate Prices May 2021

Lack of inventory has driven large price increases. In May 2021. Median price gained 15.2% to $500K from $434K in April 2021, while the average price gained 15.5%, to $579K from $501K. Over the last year, home prices have risen almost $100K. For as long as inventory shortages persist, we’ll continue to see upward pressure on prices.



 Loveland CO Real Estate Inventory May 2021

Inventory, in steady decline over the last year, is moving upward, though one month does not make a trend, and it remains still far from meeting demand. There were 122 homes available at the end of May 2021, a gain of 43.5% from the 85 homes for sale at the end of April 2021. The Month’s Supply of Inventory (MSI) rose to 0.6 months.

It’s still too early to tell if the inventory gains of last month are a reversal of the trend, but there’s little question that a lack of sufficient homes to meet buyer demand - the main driver of our current market - will continue to impact the market in coming months. We simply don’t have a feel for the size of what pent-up demand might be, nor do we yet have a full understanding of how big the potential pool of sellers is. But we believe that the strong increase in home prices is a major factor holding potential sellers back from trading up. And as long as the imbalance between supply and demand remains strong, we’ll see home prices continuing to rise. But for now, it’s good to see inventory starting to move upward - that’s the direction that is needed to move our market back toward equilibrium. We’ll keep you updated as we watch how this plays out.