January inventory of for-sale homes plummeted 60 percent or more across region

The median price of a detached single-family home in Boulder fell just shy of $1 million in January as the inventory of active listings across Northern Colorado plummeted from the same month a year ago.

The five largest cities in the region — Fort Collins, Boulder, Greeley, Longmont and Loveland — all saw their number of active listings decrease by 60 percent or more.

The figures are based on the latest report from the IRES multiple listing service.

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While Boulder’s average single-family home price hit $1 million on multiple occasions last year, the median never got this close. After hitting a 2015 high of $890,000 in December, Boulder’s median price in January this year was $989,000.

That figure came on the sales of 33 homes, five more than sold in January last year. But the number of active listings at the end of January this year was 31, down from 90 a year earlier. The city’s median price in January 2015 was $702,500.

None of the other four cities saw such drastic price gains.

Fort Collins was next in line with a 13.9 percent bump, from $289,733 last year to $329,900 this year. The number of active listings there plummeted 71 percent, meanwhile, from 477 in January 2015 to 137 this year.

Greeley, which saw active listings fall by 60 percent over the same timeframe, had a median price in January of $212,500, up from $195,000.

Longmont’s median price climbed from $284,000 last year to $303,500 this year, with active listings sliding 66 percent to just 48.

The Loveland figures, which also include Berthoud numbers, saw the median price go from $299,950 a year ago to $312,500. Active listings there were down a staggering 75 percent, from 334 last year to 85.

In the high country, meanwhile, the number of active listings in Estes Park and surrounding areas fell from 152 to just 11, with the median price climbing from $327,500 to $370,000.