IRES: Median home prices rise at torrid pace

LOVELAND — Residential real estate prices continue to be white hot throughout the Boulder Valley and Northern Colorado with annual increases in median prices of homes sold up more than 20% in every market except one. 

And that market, Longmont, was no slouch either with a 17.9% increase, from $509,000 in February 2021 to $600,000 in 2022.

The data, compiled by Information and Real Estate Services LLC based in Loveland, also showed that Longmont had only 47 active listings during the month, compared with 78 in the same month a year ago. Forty-one homes were sold in February 2022 with an average time on the market of 23 days.

The Loveland/Berthoud area topped the charts during February with a 33.8% increase in median sales price for single-family residential homes, rising from $425,000 in February 2021 to $568,647 in the same month of 2022. A total of 118 homes sold that month in an average on-market time of 58 days.

The median sales price in the Fort Collins market in February was $625,610, up 29.7% from $482,500 in February 2021. A total of 140 homes sold during the month, with an average time on the market of 48 days.

Boulder home prices rose 28.3% year over year with the 2022 median at $1,587,450 and the 2021 median at $1,237,000. Thirty-eight homes sold during the month with an average time on the market of 32 days.

The median single-family home price in Estes Park was $705,000, up 25% from $560,000 a year ago in February. A total of 13 homes sold during the month; time on the market was 56 days.

The median sales price in the Greeley/Evans market was $434,850, up 21% from the $359,000 recorded in February 2021. A total of 127 homes sold during the month. The average time on the market was recorded at 57 days.

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