Residential listings were up in 2023, but sales volumes, median prices tanked

It may seem like just yesterday that prices for single-family homes were spiking as supply of homes for sale plummeted, which, of course, resulted in the strongest seller’s market in a generation when it came to median home resale prices.

With 2023 just past, the housing market is substantially different.

Across the Northern Colorado and Boulder Valley, the number of active listings for the year were up substantially, with the exception of Greeley/Evans, where listings were mostly flat from the prior year.

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Yet, despite the supply and pent-up demand from the pandemic period, total sales were down in every community, median prices were also down in all communities except Fort Collins, and the total dollar value of transactions were also down — as much as 32% in Greeley/Evans.

Here’s a look at year-end activity, and the overall look at 2023, with data supplied by Loveland-based Information and Real Estate Services Inc., the multi-list organization in the region.

Boulder 

Active listings for the year: 1,814, up 47.2% from the 1,232 of the year prior. December active listings were shown at 92, down from 131 of the month prior.

Total single-family properties sold: 501, down from 530 of 2022 or 5.5% fewer. Thirty-one homes were sold in December, down from 34 in November

The median sales price for the year: $1.425 million, down 2% from $1.454 of the year prior. The annual median number was well above the December sales median of $1.08 million, which was also below the November median of $1.34 million. Four times during 2023, the monthly median exceeded $1.5 million — April, June, August and October.

Aggregate sales volume for the year: $892.9 million, down 2.6% from $916.8 million of 2022.

Estes Park

Active listings for the year: 1,185, up 36.7% from the 867 actives of 2022. December actives of 87 were below the 104 of November.

Total single-family properties sold: 253 for the year, down 11.2% from the 285 of the year prior. In December, 17 single-family homes were sold, compared with 19 of November.

Median sales price for the year: $720,000, down 2.2% from the $736,500 of 2022. The December median was $615,000 down from $750,000 in November. 

Aggregate sales volume for the year: $200.7 million, down 15.9% from $238.7 million of the year prior.

Fort Collins

Active listings for the year: 5,198, up 22.2% from the year’s prior 4,253. December actives were 360, down from 433 of November.

Total single-family properties sold: 1,986 properties sold, down 11.6% from the 2,247 of 2022. In December, 124 homes were sold, about even with the 125 homes of November. 

Median sales price for the year: $600,000, exactly the same as the 2022 median. The December median was $585,000, up from $575,000 of November. 

Aggregate sales volume for the year: $1.35 billion, down 11.1% from the $1.52 billion of 2022.

Greeley/Evans

Active listings for the year: 2,413, down 1.7% from 2,454 of 2022. December active listings were shown at 177, down from 207 of November.

Total single-family properties sold: 1,064 for the year, down 31.8% from the 1,559 of 2022. A total of 79 homes were sold in December, up from 64 in November. 

Median sales price for the year: $416,000, down 5% from the $438,000 of 2022. The December median was $420,000, up from $397,000 in November. 

Aggregate sales volume for the year: $472.1 million, down 32% from $694.3 million of 2022.

Longmont

Active listings for the year: 1,338, up 15% from the 1,163 of 2022. December actives were listed at 70, down from 102 of November.

Total single-family properties sold: 624 homes were sold in 2023, down 14.6% from the 731 of 2022. In December, 47 homes were sold, up from 34 in November.

Median sales price for the year: $611,928, down 0.2% from the $613,450 of 2022. The December median was $597,000, down from $665,000 of the month prior.

Aggregate sales volume for the year: $415.8 million, down 14% from the $483.6 million of the year prior.

Loveland/Berthoud

Active listings for the year: 3,530, up 17.9% from the 2,994 of 2022. December actives were listed at 233, down from 294 of November.

Total single-family properties sold: 1,499, down 16.6% from the 1,798 of the year prior. A total of 99 homes sold in December, up from 96 of November.

Median sales price for the year: $550,000, down 1.5% from the $558,365 of the year prior. The December median was $515,000, down from $519,912 in November.

Aggregate sales volume for the year: $992.5 million, down 14.7% from the $1.16 billion of 2022.