The Home Sale Race Begins to Pace Itself
In July 2021, year-to-date closed sales were down across almost all markets in northern Colorado except in Windsor where detached closed sales increased by 35.65% year-over-year (and attached home sales stayed the same). This was a 41.47% year-over-year increase in closed sales volume.
The only other increase in home sales was present in Timnath as the detached market’s closed sales increased by only 3.45% year-over-year and Loveland’s attached market’s closed sales increased by 7.32% year-over-year.
We are beginning to see a slight slowdown of homebuyer demand as we return to seasonal housing trends.
Timnath’s Attached Homes Sit on the Market
Year-over-year average days on market has fallen greatly across most of northern Colorado, except in Timnath where the attached housing market experienced an 82.94% year-over-year increase, up to 311 days from 170 in 2020.
This presents an opportunity for homebuyers to get a better price on their dream home as sellers are more likely to lower their original listing price the longer the home stays on the market.
Conversely, Berthoud’s attached homes saw the largest reduction in average days on market with a year-over-year decrease of 81.48%, down to 30 days from 162 in 2020.
Berthoud’s Close-to-List Price Begins to Lower
Every market in northern Colorado saw a year-over-year increase in the average close-to-list price, except for Berthoud’s attached housing market, which experienced a 0.78% decrease down to 101.5%. Given that Berthoud’s average close-to-list price increased by 6.4% year-over-year in the attached housing market during June 2021, this data could indicate Berthoud shifting toward lower housing prices.
Boulder’s attached housing market saw a 1.53% year-over-year increase in average close-to-list price but stands as the only market with an average close-to-list price of under 100% in 2021, sitting at 99.7%.
*Written August 4, 2021. Updates may be available after this date.