The Northern Colorado market continues to adjust with opportunity present.
October data reflects the Northern Colorado real estate shift to a more normal market with added opportunity for buyers. Compared to last October, inventory continues to go up and some sellers are making price reductions.
Fort Collins detached homes sales volume decreased more than last month.
In comparison to 2021, closed sales decreased from $119,702,347 to $93,759,319 in October 2022. 136 detached homes were sold in October 2022 compared to 198 in 2021, a 31.31 percent decrease. A more significant decrease from prior year than the previous month saw.
Berthoud also experienced a decrease in their detached homes total sales.
Closed sales decreased 51.62 percent, a marked change from the prior month’s slight increase. The average sales home price increased, however, by 4.82 percent, from $663,944 last year to $695,948. Attached homes experienced a slight decrease in total sales volume from 2021 to this month.
Meanwhile, Timnath saw another increase year-over-year in detached homes sold.
Following a month-to-month trend, Timnath’s detached market went from 11 homes sold in October 2021 to 13 homes in October 2022, an 18.18 percent increase. In its attached market, Timnath also experienced an increase from 0 in 2021 to 8 in October 2022.
Boulder saw a significant decrease in sales volume year-over-year.
In the detached market, the total October sales volume went from $363,164,758 in October 2021 to $195,107,789 in October 2022, a decrease of 48.86 percent. The attached market also saw a decrease in closed sales from 136 in October 2021 to 90 last month.
Loveland followed the trend with another decrease in detached average home sales.
In Loveland’s detached market, residents saw 118 sales in October 2022 versus 145 in October 2021, an 18.62 percent decrease. Yet the average sales price for a detached home increased slightly from $559,971 in 2021 to $568,937.
*Updated November 3, 2022