March home prices flat, active listings down YoY

LOVELAND — Despite the COVID-19 outbreak, which began its economic destruction in mid-March, Northern Colorado and Boulder Valley home prices were mostly flat last month, and in some cases even rose from February, according data released Wednesday from Information and Real Estate Services LLC, based in Loveland.

IRES tracks home sales in Boulder, Fort Collins, Longmont, Loveland/Berthoud, Greeley/Evans and Estes Park, all markets within Boulder, Broomfield, Larimer and Weld counties.

While prices were flat, the number of active listings in March nosedived in many markets compared to the same month in 2019.

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This data jibes with evidence — both statistical and anecdotal — supplied to BizWest recently by real estate professionals who say the coronavirus is responsible for an uptick in withdrawals by sellers and lack of supply is buoying sales prices. 

Boulder’s median sale price for March still topped the million dollar mark at $1,000,049. That’s down slightly from February but up nearly 5% over March 2019.

There were 61 sales on 147 listings in March and homes sold sat on the market for an average of 51 days. Active listings were down nearly 20% compared to March 2019.

Fort Collins home prices dropped just a couple of thousand dollars from February to March, which saw average sales prices of $425,000.

There were 565 active monthly listings, down nearly 8% compared to March 2019. Last month Fort Collins saw 231 sales. 

Homes were on the market for an average of 94 days. 

The Greeley-Evans market also saw median prices decline fractionally in March, when prices averaged $320,000.

There were 255 active listings — down 18% year over year — and 140 sales. The sold homes were on the market for an average of 61 days.

Home prices in the Loveland-Berthoud market were relatively flat in March at $399,950, down $50 from February. 

Year-over-year active listings were also flat: 410 in March 2020 compared to 407 in March 2019.

Houses sat on the market for an average of 70 days.

In Longmont, median home prices in March were up a few hundred dollars to $455,950.

Like other nearby markets, Longmont saw active listings dip in March compared to the same month in 2019, from 170 to 149. Of those 149 listings, 96 were sold last month.

Homes in Longmont were on the market for an average of 66 days.

Estes Park homes sold for a median price of $575,250 in March, up 5.6 percent from the prior month.

There were only 79 active listings last month, down from 90 in March 2019. Homes that sold in March sat on the market for an average of 62 days