Tight residential market drove home prices up in April

The region’s home buyers continue to have fewer choices and are paying more than they were a year ago, according to the latest figures released by the IRES Multiple Listing Service.

The Boulder, Fort Collins, Greeley/Evans, Longmont and Loveland/Berthoud areas experienced a universal seasonal rise in the number of active residential listings from March to April. But in almost every case there were fewer single-family detached and attached dwellings for sale than during April of last year, in some cases by 10 percent to 20 percent.

Median prices, meanwhile, have also increased in nearly every locale.

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Loveland/Berthoud was the only area where neither single-family detached nor attached dwellings increased in price compared with the same period last year. The median price for single-family detached homes there in April was $266,250, compared with $267,515 a year ago, while the median price for attached dwellings was $175,000, down $1,450 from last year.

Despite a decrease in the median price of attached dwellings, Greeley experienced a 14.1-percent increase in median price for detached homes to $190,000. Fort Collins (5.3 percent) and Longmont (9.3 percent) have also had significant increases in median detached home price compared with last year, while Boulder’s median was steady, ticking up slightly from $657,500 a year ago to $661,000 in April.

Greeley is the only local area where the year-to-date number of residential sales has increased compared with last year, a lot of which has to do with the decreases in inventory for most areas.

In Boulder, the number of active single-family detached listings climbed from 195 to 214 from March to April. But that number was still 19.2 percent below the April 2013 mark of 265 in what was already a tight housing market.

Longmont’s single-family detached listings were 11.1 percent lower than last year’s in April, and Loveland Berthoud’s number was down 20.9 percent. Even Greeley’s detached number of listings was down 14.2 percent, while Fort Collins saw a decrease of only 1.9 percent from last year.