February home prices fall in some cities but remain high overall

LOVELAND — Home prices in the Boulder Valley and Northern Colorado continued their 2020 momentum to start the new year, but February saw slight dips in some local markets.

Despite this, low inventory sent prices up in other areas and prices remained very high regionally, according to new data released Monday by 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.

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Fort Collins median prices rose nearly $20,000 in February compared to the prior month, clocking in at $482,500 and up nearly 15% from the same month last year. 

Active listing rose slightly to 280 and sales totalled 168, basically flat month-over-month. Homes sold were on the market for an average of 75 days. 

In the Greeley-Evans residential market, median prices also rose from $338,000 in January to $359,000 last month, a double-digit increase. The median price in February 2020 was $321,550.

There were 118 homes sold on 144 active listings. Those sales occurred in an average of 50 days in February. 

Longmont prices in February were up more than 11% from the same month in 2019, crossing the half-million-dollar mark to $509,000 last month. 

There were 63 transactions made on 78 active listings. Those deals took an average of 44 days to complete. 

In Estes Park, median sales prices also topped $500,000. February prices were $560,000 compared to $525,000 in January. 

There were only 13 homes sold on 51 listings. Those sales closed in an average of 61 days. 

While the median February home sales price in Boulder fell month-over-month, the figure was still well over the million-dollar mark at $1,237,000. That’s up nearly 20% from February 2020.

There were only 43 deals made last month on 104 active listings. Those sales took an average of 62 days. 

The Loveland-Berthoud market also saw prices fall last month. The median February price was $425,000 compared to $442,500 in January.

There were 151 sales last month on 280 active listings. Those homes were on the market for an average of 66 days. 

© 2021 BizWest Media LLC