May 18, 2024


Comfortable residential structure

Home prices mostly up as inventory remains low

December median home prices were up across many of the Boulder Valley and Northern Colorado submarkets as active listings remained extremely low, in several cases failing to crack triple-digits.

Not only were prices mostly up in December, the 2020 yearly median costs across all cities in the region were up compared to 2019 year-end figures, according to data released Friday by the Loveland-based 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.

December prices in Boulder rose for the third straight month with the median figure hitting $1,080,500. That’s the second highest monthly median of the year. For the year Boulder’s median price was a flat $1 million, up 2.3% from 2019.

During December there were only 80 active listings, a yearly low. Also hitting a 2020 low were total sales, of which there were 44 last month. Those sales took an average of 71 days to complete.

After a slight dip in November, Fort Collins median prices rose a tad in December to $447,500. For the year the city’s median price was $446,000, up 5% from 2019.

Last month there were 267 active listings, a low mark for 2020. Of those there were 238 sales, the second lowest total for the year. Sold homes were on the market for an average of 79 days.

In the Loveland-Berthoud market, median home prices ticked up ever so slightly to $425,500, a bit higher than the 2020 yearly median price of $415,000.

Like many of the other markets in the region, Loveland and Berthoud had an annual low for active listings: 178. That’s almost 40% lower than December 2019. Homes last month took an average of 66 days to sell.

Greeley sales prices slipped in December after rising for the two prior months. The median rate last month was $335,087. For the entirety of 2020, the median sales price was $327,500, up 4.8% year-over-year.

December saw a yearly low of active listings with 162, down nearly a quarter from 2019. Of those listings, there were 138 homes sold in an average of 49 days.

Estes Park prices also dropped — albeit more sharply — in December to $444,013. That’s down from $571,725 in November, a high mark for 2020. The yearly median price in the mountain town was $502,500, a 5.3% bump compared to 2019.

There were only 59 active listings in December, the second lowest monthly total in 2020. Of those listings, 21 homes sold after being on the market for an average of 99 days.

Longmont’s December median price was $465,000, up $25,000 from November. For the year the city saw a median price of $463,000, up 6.4% from 2019.

Active listings continued their downward plunge in December with a yearly low of 69, only half the number of listings in December 2019. There were 85 homes sold in an average of 51 day last month.

© 2021 BizWest Media LLC