Economy & Economic Development  October 9, 2023

IRES: Home sales numbers down year to date throughout region

In the face of declining home sales throughout the Boulder Valley and Northern Colorado, prices of homes in September continued to rise in most of the communities tracked by the Information and Real Estate Services LLC. 

Home sales year to date were down throughout the region, ranging from 6.6% down in Boulder to 33.5% down in Greeley, where year-to-date sales fell from 1,254 a year ago to 834 sales so far this year. 

Supply of homes for sale, which during the pandemic rose to be an issue, wasn’t the case in September with most communities — but not Greeley — seeing more homes on the market than was the case a year ago. Greeley inventory dropped from 263 a year ago in September to 237 this year.

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Instead, as real estate professionals have noted, interest rates on home mortgages have softened demand as older homeowners with low-rate mortgages remain in place and younger homeowners hesitate to make the jump.

In Boulder, 40 homes sold in September, compared with 39 the month prior. The median resale price for single-family homes was $1.36 million, down from $1.5 million the month prior but up from $1.2 million in September 2022, or 10.8% up.

Estes Park saw 27 single-family homes sell during the month, down from 30 the month prior. Median price was $775,000, up from $637,500 the month prior and up from $621,250 in September a year ago, or 24.7% up.

Fort Collins homeowners sold 176 properties in September, down from 212 in August. The median price was recorded at $617,950 for September, up from $595,000 in August and up from $585,000 a year ago September. That’s an increase of 5.6%.

Loveland/Berthoud saw 125 sales during the month, down from 151 in August. Median sales price was $553,168, down from $575,000 in August but up from $542,021 in September 2022, or 2.1% up.

Longmont was one of two communities to see a decline in median sales prices.
During September, 61 homes sold, the same number as August. The median for September was $603,501, up from $600,000 in August but 5.7% down from the $640,000 seen in September a year ago.

Greeley/Evans was the other community seeing declines. A total of 103 single-family homes sold during the month, compared with 69 a year ago. The median sales price in September was $421,500, down from $442,900 of August and 4.9% down from the $443,119 of September 2022. 

In the face of declining home sales throughout the Boulder Valley and Northern Colorado, prices of homes in September continued to rise in most of the communities tracked by the Information and Real Estate Services LLC. 

Home sales year to date were down throughout the region, ranging from 6.6% down in Boulder to 33.5% down in Greeley, where year-to-date sales fell from 1,254 a year ago to 834 sales so far this year. 

Supply of homes for sale, which during the pandemic rose to be an issue, wasn’t the case in September with most communities — but not Greeley — seeing more…

Ken Amundson
Ken Amundson is managing editor of BizWest. He has lived in Loveland and reported on issues in the region since 1987. Prior to Colorado, he reported and edited for news organizations in Minnesota and Iowa. He's a parent of two and grandparent of four, all of whom make their homes on the Front Range. A news junkie at heart, he also enjoys competitive sports, especially the Rapids.
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