Low inventory pushes home prices up across Northern Colorado, Boulder Valley

LOVELAND — Median home prices shot up across markets in Northern Colorado and the Boulder Valley in January as a continuing trend of low inventory has left buyers competing with one another, according to new data from Loveland’s Information and Real Estate Services LLC.

IRES tracks home sales in Boulder, Fort Collins, Longmont, Loveland/Berthoud, Greeley/Evans and Estes Park, all markets within Boulder, Broomfield, Larimer and Weld counties.

Many of these markets had fewer than 100 homes being actively listed last month. Because fewer homes than is typical are listed, there are fewer sales, resulting in the potential for a few large deals to significantly boost median monthly prices. 

In Boulder, the median home price surpassed $1.42 million in January, an all-time high for the city. That’s up from $1,080,500 in December.

There were 31 homes sold on 85 active listings. Those homes were on the market for an average of 62 days.

Fort Collins posted a median sales price of $466,250 in January, up from $447,500 in December.

There were 162 homes in the city sold last month on 262 active listings. Homes took an average of 81 days to sell. 

Sellers in the Greeley-Evans market raked in a median sale price of $338,000 last month, up a tad from $335,087 the previous month. 

There were 102 sales on 140 active listings in January. Homes there sold in an average of 56 days.

For the second straight month, Longmont saw prices climb steeply with a January median of $489,500. That’s up from $465,000 in December and from $440,000 last November. 

There were 74 active listings in the city last month and 44 sales, which took an average of 51 days to close.

Last month, median home prices in the Loveland-Berthoud market were $442,500, up from $425,500 in December. 

Inventory there remained tight with 233 active listings and only 98 sales, which closed in an average of 69 days. 

After a drop in December, Estes Park median sale prices once again topped the half-million-dollar mark in January when that figure was $505,000. That’s up from $444,013 in December, but still down from last November’s figure. 

There were 55 active listings in the mountain town last month. Of those, 18 sold in an average of 102 days.

© 2021 BizWest Media LLC

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