This is the October 2019 Real Estate Market Update for Loveland CO
As expected for our slower fall season, Loveland CO home sales fell in September 2019, to 153 homes sold, down 36.6% from the 209 sold in August 2019, and down 13.1% from the 173 sold in September 2018. The year-to-date sales remain slightly higher than last year, with 1558 sold so far in 2019, compared to the 1544 sold during the same period in 2018.
Loveland CO home prices also fell in September 2019, with the median price falling 4.0% to $394K from $410K in September 2019, and the average price falling 4.6% to $456K from $477K in September 2019. The long term trend line, our preferred indicator for where home prices and values are headed, still shows an upward slope.
The inventory of available homes fell as well, with 433 homes for sale at the end of September, down 3.0% from the 446 homes on the market at the end of August 2019. The Month’s Supply of Inventory (MSI) rose to 2.8 months, approaching a balanced market.
The Loveland CO real estate market performed pretty much as expected in September, with sales, prices and inventory all showing signs of less overall activity in the market. We should see this overall trend persist for the coming fall and winter months, and don’t really expect any significant variation from that. While the regional economy remains strong, some uncertainty regarding the national and international economies has begun to emerge, and may become a factor at some point. We’ll be keeping an eye on all the indicators and we will keep you informed.