July's existing home sales in Loveland Colorado grew 30% over June. However we are still down for the year ( -7%) when comparing to the same period as last year. We should be at 760 homes sold for the year and we are at 709. Considering the economy still not bad.
The July's inventory fell from 6.7 months of inventory in June to 5.06 months. This may suggest homeowners are waiting to put homes on the market.
The total dollars volume sold year to date is $164,778,091. The highest priced acheived for a home sold so far for this year is $1,100,000 and the lowest is at $21,100. The median price is now at $198,000 and the average price is $232,409. Currently sales in the $200,000 or less being hot is bringing the average down right now.
It is still a wild year in real estate.
Rob Proctor, Broker with At Home Realtors Loveland Colorado http://www.at-home-realtors-com
The first half of 2009 is in the books. The good news is, we are seeing inventories decline. However, there is still a lot of stale inventory out there. Stale being inventory that has been on the market for over 6 months. What is happening is that when a new listing comes on the market, if it's at market value, great condition, location, and in the sweet spot it will sell quickly. The current sweet spot is homes below $200,000.
For resale in Loveland, the number of homes sold is only down 16% from the same time last year. The median price is only down 1% and average price is down 7%. Prices are holding and there is a shift to lower cost homes.
For Fort Collins, the number of homes sold was down 19%, the median price is down 3% and the average price down 5%. Again, volume is down but pricing is holding with a shift to lower priced homes.
Greeley/Evans saw a 2% increase in homes sold and an 11% decline in median and 11% decline in the average price. Volumes are up but prices are down and foreclosures are driving the market.
Windsor (last years shining star) saw a 14% increase in homes sold, 4% increase in the median price and average selling price decreased 4%. A shift in purchasing lower priced homes is helping the volume increase as well.
The new construction market is still seeing changes. In Loveland, the number of new homes sold fell by 51%. The Fort Collins market saw a 23% reduction in number sold. Greeley/Evans new construction saw a 39% increase. Finally Windsor, the number of home sold fell by 31%.
Rob Proctor - Broker At Home Realtors, http://www-at-home-realtors.com
Your Hometown Realestate Professional!
Despite fewer homes being sold in Loveland Colorado, the average price is holding it's own compared to the rest of the country. This is a great area to invest and to live.
Here is a chart showing what the home market has done over the last 10 years for the
Loveland/Berthoud Residential Sales Statistics for resale & new construction
| Year | # of Homes | % Change | Dollar Value | % Change | Average Sales Price | % Change |
| 1998 | 1816 | 12% | $ 288,889,280 | 18% | $ 159,080 | 6% |
| 1999 | 1751 | -4% | $ 307,358,050 | 6% | $ 175,533 | 10% |
| 2000 | 1965 | 12% | $ 379,419,885 | 23% | $ 193,089 | 10% |
| 2001 | 1866 | -5% | $ 392,471,195 | 3% | $ 210,327 | 9% |
| 2002 | 2045 | 10% | $ 445,880,256 | 14% | $ 218,034 | 4% |
| 2003 | 1976 | -3% | $ 438,846,011 | -2% | $ 222,088 | 2% |
| 2004 | 2162 | 9% | $ 514,310,240 | 17% | $ 237,886 | 7% |
| 2005 | 2142 | -1% | $ 531,754,516 | 3% | $ 248,251 | 4% |
| 2006 | 1820 | -15% | $ 464,160,780 | -13% | $ 255,033 | 3% |
| 2007 | 1604 | -12% | $ 392,540,165 | -15% | $ 244,726 | -4% |
| 2008 | 1467 | -9% | $ 350,466,694 | -11% | $ 238,900 | -2% |
Currently we we have about 6.7 months of inventory for the resale market. this is down substantially from the 8.6 the month before. It won't be long until we are in a neutral market.
Rob Proctor, Broker At Home Realtors, http://www.at.home.realtors.com
Wow...Loveland Colorado makes it again. The US and World Report magazine has Loveland as the 7th best place to live. The article says Loveland is considered the Gateway to Rocky Mountain National Park. The 27 public parks, 16 miles of recreation trails, and 300 pieces of public sculpture help make Loveland a best place to live.
They forgot to mention our climate is great and so are the people who live here.
Here is the complete list:
Rob Proctor - Broker with At Home Relators http://www.at-home-realtors.com
Here are some photos I took this morning of the front range mountains of Northern Colorado. We had over 3 feet of snow in the mountains last weekend. It is a beautiful site. Later today it will be in the 70's here. That's why I live in Colorado.
Rob Proctor - Broker, At Home Realtors, http://www.at.home.realtors.com
I'm your home town real estate professional. Local independant realtor/broker serving Northern Colorado (Loveland, Fort Collins, Windsor, Wellington, Greeley, Berthoud, and Johnstown/Milliken).
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