Median home prices up, inventories down in November

The median sales price for a home sold in the Greeley-Evans area in November rose by 15.1 percent to $141,000 compared to the median price of $122,500 during the same month a year ago, according to data compiled by Information and Real Estate Services.

In Fort Collins, the median sales price of a home sold in November was $222,000 compared to $217,000 a year earlier, an increase of 2.3 percent. The median price of a home sold in the Loveland-Berthoud area in November was $194,900, almost the same as November 2008 when the median price was $195,000.

The IRES data also showed home inventories continuing to drop in all three locations compared to a year ago. In Greeley-Evans there were 642 active listings in November compared to 783 a year earlier. In Fort Collins, there were 1,236 active listings compared to 1,311 in November 2008 and in the Loveland-Berthoud area there were 882 active listings compared to 1,013 in 2008.

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The total number of homes sold in Greeley-Evans through November 2009 drew almost even to the number sold through the same period in 2008, with 1,346 sold this year and 1,349 in 2008. In Fort Collins through the first 11 months of 2009, 2,091 homes were sold compared to 2,220 in the same period in 2008, a 5.8 percent decrease.

Loveland-Berthoud had the biggest decrease in total number of homes sold through November with 1,205 this year compared to 1,312 last year, or an 8.2 percent decline.