This is the November 2017 Real Estate Market Report for
Homes for Sale in Loveland CO
Counter to expectations, Loveland home sales rose in October 2017, up 6.1% to 192 homes sold from 181 in September 2017, but were down 1.5% from the 195 sold in October 2016. It’s doubtful that this is more than a random variation, and we still expect that sales will be declining over the next several months.
Loveland home prices rose in October 2017, with median price gaining 12.4% to $390K from $347K in September 2017, and average price gaining 7.3% to $428K from $399K in September 2017. Again, this is most likely a typical month-to-month variation in the prices of homes sold this month. The long-term trend line for Loveland home values continues to move upward.
Inventory did perform as expected in October 2017, with a decline of 5.8% to 392 homes on the market at the end of the month, down from 415 homes for sale at the end of September 2017. The Month’s Supply of Inventory (MSI) fell to 2.0 months due to increased sales, and still shows a strong seller’s market.
The Loveland real estate market has been inconsistent from month to month throughout the year, and October was no exception, with sales and prices rising, instead of the gradual decline we had been expecting. But as can be seen from the graphs above, 2017 is looking like a stronger year than 2016. And the customary winter slowdown will happen, but we wouldn’t be surprised to see good sales activity either - the regional economy remains strong and is generating employment growth that will continue to drive buyer demand. We will remain concerned about the availability of sufficient inventory to satisfy that demand, particularly as we move into next year.
If you would like to check out what's currently on the market, take a look at Homes for Sale in Loveland CO. When you see a home you'd like a closer look at, please give us a call - we'd be happy to schedule a showing for you at your convenience. And please don't hesitate to contact us if you have any questions about this market report or other real estate topics.
Mary & Dick Greenberg
Data Source: IRES MLS