Residential listings down in region

Residential detached listings are down in Fort Collins, Loveland, and
Greeley both year-over-year and month-to-month, according to new data
released by Information and Real Estate Services LLC.

In Fort Collins, listings decreased to 1,393 in July 2011 from 1,506 in
July 2010, and from 1,425 in June 2011. The number of listings sold in
July 2011 was 259, and the median sales price was $250,000, up 4.6
percent from $239,000 last July.

Loveland-Berthoud listings decreased to 938 in July 2011 from 1,092 in
July 2010 and 973 in June 2011. Median sales price decreased on the 134
listings sold, down 12.2 percent from $238,000 in July 2010 to $208,958
in July 2011.

In Greeley, the number of listings decreased from 733 in July 2010 to
555 in July 2011. The number of listings in June was 565. Like Fort
Collins, Greeley’s median sales price also increased, by 1.4 percent
from $135,000 in July 2010 to $136,900 in July 2011. Number of listings
sold in Greeley in July 2011 was 133.

One potential reason for the decrease in year-over-year statistics is
the federal homebuyers’ tax credit, which was in place until the end of
June 2010, according to analysis of the IRES data provided by the Fort
Collins Board of Realtors.

Many buyers accelerated their plans to buy and more transactions
occurred earlier last year than is typical, but in 2011, customary
buying patterns have returned. The tax credit also affected the median
home price, according to the FCBR analysis.

IRES is a multiple listing service for Northern Colorado formed by the
boards and associations of realtors in Fort Collins, Loveland-Berthoud,
Greeley, Longmont and Boulder.