May home prices continue steady uphill climb 

LOVELAND —

Median home prices continued to climb in Northern Colorado amid a busy market up and down the Front Range, with the highest prices along the foothills.

All along the Interstate 25 corridor, housing prices are growing incrementally, with each area topping $585,000 in median sales prices, according to the Loveland-based multiple-listing service Information and Real Estate Services LLC.  

Northern Colorado also is blowing national statistics out of the water. The median home sales price nationally for May was $442,500, according to Realtor.com.

Boulder’s median prices topped $1.5 million for the first time in April, but prices sunk back down in May to the $1.3 million to $1.4 million mark the area has been seeing all year. IRES reports show four spikes past $1.5 million in Boulder last year – April, June, August and October. In all, Boulder had 236 active listings, up 37% from the same time last year. Year-to-date, the area saw 226 sales, up 16.5% from last year at the same time.

Estes Park was the only area that saw a drop in median prices, but they remain high at $776,500. For May, the area sold 18 houses among 142 listings. Year-to-date, there have been 95 sales.

Fort Collins median prices continue to climb, jumping 9.1% to $650,000 in May. Prices have been on a steady march for the last year, with prices surpassing $600,000 in six months of the year. For May, 219 homes sold on 623 active listings. So far this year, 787 single-family homes have traded hands, making this the hottest market in northern Colorado.

Median prices in Longmont eked up 0.5% to $619,645 in May. With 148 active listings, 76 homes sold, making a total 255 homes selling so far this year.

The Loveland/Berthoud sales area comes in a close second for the hottest-market, recording a median sales price of $585,000, an 8.5% jump from the same time last year. The area had 371 active listings and recorded 152 sales. Year-to-date sales sat firmly at 573. 

Greeley/Evans, on the other hand, continues to have northern Colorado’s most affordable homes. Median prices grew 2.3% in May to $440,000, surpassing that mark only once all last year. Median prices have grown each month this year so far, however. With 220 active listings, 131 homes sold in May. And the area has recorded 512 sales year-to-date. 

“We’re the last bastion of hope for affordable housing and it’s very limited,” said Steve Baker, managing partner of Sears Real Estate in Greeley. “For the most part, the homes in the $450,000 and under range, and if they come in good condition, they will go under contract fairly quickly. Average days on the market is one thing that helps us. We’re still sitting at a pretty good level at 60. That’s still considered a seller’s market.”

Realtor.com shows that median listing prices have grown 37.5% since May 2019. “Adjusted on a per-square-foot basis to account for more small homes being listed compared with 2019, the median price increased by 52.7% since May 2019,” the site reported.

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