IRES: Local communities top 30% home-price growth

LOVELAND — Northern Colorado home prices continue to soar, with median sales prices for detached topping $500,000 in five communities around the region in March. Longmont, Estes Park and Loveland all saw prices increase more than 30% from March 2021. 

After seeing only 17% growth in the previous release of Information and Real Estate Services LLC data, Longmont more than doubled that growth rate, reaching a median home price of $675,000, 36.9% higher than in March 2021.

Estes Park’s median sales prices also grew by more than 36%, reaching $870,000 for a single-family detached home. March saw 41 houses on the market, with 26 of them sold after an average of 65 days.

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Homes in Loveland and Berthoud jumped 31.4% in sales price, with the median rising to $565,000. Of the 178 homes on the market in March, 139 of them sold after an average of 43 days on the market.

Greeley has long been a bastion of affordable housing in the region, but home prices there increased by 26.4% since March 2021, hitting more than $446,000. 157 of the 167 homes on the market sold after an average of 51 days on the market.

Housing prices in Fort Collins didn’t reach quite as high as other communities, but still sat at a respectable 22.6% over March 2021, hitting $607,000. Forty-seven of the 73 homes on the market sold in March, but did so after on average only 41 days on the market.

Only two communities studied by Information and Real Estate Services saw decreases in median home prices. Boulder, which saw growth of more than 28% last month, saw an 8% reduction in home prices over March 2021 to $1.4 million. Fifty of 72 listings sold after an average of 43 days on the market. Boulder remains the only community in the region with median home prices above $1 million.

Editor’s note: Days on market data is prepared by IRES. Here’s an explanation of how it’s computed.