Mary & Dick's Blog

March 2017 Real Estate Market Report - Greeley CO

This is the February 2017 Real Estate Market Report for Greeley CO

 

Sales:

Greeley CO Home Sales February 2017

Home sales slowed again in February 2017, falling 38.6% to 83 sales from 115 sales in January 2017, and were off 22.9% from 102 sales in February 2016. Sales decreases are normal this time of year, but it’s likely that seasonal effects are being exacerbated by continuing low inventory.

 

 

Prices:

Greeley CO Home Prices February 2017

Home prices rose in February 2017 - the median sales price gained 7.2% to $266K from $248K in January 2017, and the average price rose 1.1% to $279K from $276K in January 2017. These results report only the specific homes that sold during the month, but the long term trend line does indicate increasing home values for the market, again no doubt showing the imbalance between low inventory and high housing demand.

 

 

Inventory:

Greeley CO Home Inventory February 2017

Inventory also dropped in February 2017, an expected result for the time of year. At the end of February, there were 80 homes for sale, a decline of 6.3% from January 2017. The Months Supply of Inventory (MSI) rose to 1.0 months, still indicative of a strong seller’s market and high buyer demand.

 

 

Summary:

With seasonal effects no doubt influencing the month’s performance - sales and inventory typically decline during the winter - the overall low levels of inventory - running at a 3-year low - are going to bear watching closely in coming months. Demand should remain high due to regional economic growth, and if inventory isn’t sufficient to satisfy it, continued price increases are likely. But it’s difficult to read too much into a month or two’s numbers at the traditional slowest time of the year, so we’re going to have to wait a couple of more months to get a solid read on what the market will look like during the coming year.

 

 

If you are curious about the available inventory, check out Greeley CO Homes for Sale. When you find a home that interests you, please give us a call - we would be happy to schedule a showing for you at your convenience.

Mary & Dick

Mary & Dick Greenberg
New Paradigm Partners LLC
2601 S. Lemay Ave. #41
Fort Collins, CO 80525
970-689-4663
www.maryanddick.com

 

Data Source: IRES MLS

Comment balloon 8 commentsDick Greenberg • March 06 2017 10:30PM
March 2017 Real Estate Market Report - Greeley CO
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