Region’s median home prices soar in February

The median single-family home prices in Fort Collins, Loveland and Longmont all eclipsed $300,000 for the month of February, a milestone reached only once by each city last year.

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

Among the region’s five largest cities, Longmont saw the biggest gain from February a year ago, with the median there rising 28 percent to $302,500, up from $237,000. Fort Collins saw its median single-family price climb 27 percent, from $250,000 a year ago to $316,000 in February. The median price in Loveland, meanwhile, rose 22 percent to $310,000, up from $253,950 in February of 2014. The Loveland figures also include Berthoud sales.

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Longmont and Fort Collins have both seen their median prices surpass $300,000 in two of the last three months, with each also doing so in December. The Loveland-Berthoud area topped the mark in August of last year.

The price increases are just part of the broader trend along the Front Range as an extreme lack of inventory impacts the market.

Boulder, Fort Collins, Loveland and Longmont continue to see big declines in the number of active listings, with only the Greeley-Evans area seeing gains in inventory.

Boulder’s median single-family home price in February was $677,500, up 7.5 percent from a year earlier but down from January’s mark of $702,500. Greeley, meanwhile, saw its median climb to $205,625, up 14.9 percent from one year before.

Compounding the lack of inventory is the fact that all of the five cities but Boulder have seen an increase in the number of listings sold year to date so far in 2015 compared to 2014.