Prices of attached dwellings soared locally in May

LOVELAND — The Boulder Valley and Northern Colorado continued to experience big year-over-year median-price gains for single-family homes in May, including 21 percent in Greeley. But the real eye-popping increases came in the prices of attached dwellings, like townhomes and condominiums, in some of the region’s largest cities.

The figures come from the latest report from Loveland-based Information Real Estate Services.

The median price of attached dwellings in Longmont rose 56 percent, from $198,750 in May of last year to a 2016 high of $309,950 as listings for such home dry up in the city and new higher-priced stock comes online. In Boulder, the median price for attached dwellings rose 30.8 percent to $453,750, also a 2016 high. The Loveland-Berthoud area saw the median price for such homes climb 23.7 percent to $246,750.

The price increases for attached dwellings in Fort Collins and Greeley were still strong but not quite as drastic. The median for those homes in Fort Collins rose 9.3 percent to $253,000, while in Greeley the median climbed 5.8 percent to $190,300.

Greeley, however, saw the biggest increase percentage-wise among the region’s five largest cities for single-family homes. The median price of a detached single-family home in Greeley — with figures including sales in Evans – in May hit a 2016 high of $260,000, up from $215,000 a year earlier and up from $248,250 in April.

None of the region’s other four largest cities hit 2016 highs for single-family home prices in May, though Loveland and Longmont still had double-digit gains.

Loveland’s median single-family home price climbed 17.8 percent year-over-year to $345,000, equal to the April median. In Longmont, the median single-family price rose 12.7 percent year-over-year to $355,000, down slightly from April’s mark of $360,000.

Boulder’s May median for single-family homes rose 5 percent year-over-year to $890,000, down from April’s mark of $950,000. In Fort Collins, the year-over-year gain was 9.2 percent to $355,000, just off the 2016 high for the city of $358,860 set in March.

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