Home prices rise in Northern Colorado, Boulder Valley

Home sale prices increased 9.5 percent in the Greeley area during the third quarter from the same period a year earlier, more than doubling the national average increase of 4.6 percent.

The home sale price increase ranked the region No. 44 among metropolitan statistical areas in the nation, according to a report from the Federal Housing Finance Agency released last week. The federal agency used home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac.

Home sale prices increased 8.5 percent in the Fort Collins and Loveland area during the period, ranking the region No. 59.

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“Long-term appreciation in our area averages roughly 5 percent per year,” said Eric Thompson, president of Windermere Real Estate in Colorado. “The reason why we are seeing numbers higher than that now is because of low inventory levels in many price ranges.”

In the Boulder area, home sale prices saw a year-over-year increase of 8.4 percent, ranking the area No. 62.

Statewide, home sales prices rose 7 percent.

Nevada, Hawaii, California, North Dakota and Florida saw the highest average price increases in the nation.

“Easing interest rates and modestly improving labor market conditions helped to drive up prices in the third quarter,” said FHFA principal economist Andrew Leventis.