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