Median home prices soar across region as Boulder tops $1.1M

LOVELAND — Across Northern Colorado and the Boulder Valley, reduced inventory sent home prices soaring in August, according to new data from Loveland-base multiple-listing service Information and Real Estate Services LLC. In many cases, median prices hit yearly highs last month. 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. Median home prices in Boulder approached their 2020 high in August at $1,124,253. The only month that topped August was April, when median prices were $1,125,000. The city saw 207 active listings in August — down more than 17% year over year — and 84 sales. The average sold home sat on the market for 54 days. Prices hit a yearly high last month in Fort Collins, where the median was $460,000. That’s compared to $432,650 in July and $425,000 in March, the month when the COVID-19 outbreak began impacting the nation’s economy in earnest.  August had 349 sales on 646 active listings, nearly 20% fewer than the same month last year. The average home sold in 65 days.  The median price in the Greeley-Evans market hit $327,750, the second highest figure for the year and up from $319,900 in July. There were 186 sales on 6% fewer listings — 283 — last month compared to August 2019. Homes sat on the market for an average of 52 days,  Longmont median August home prices were $487,336, a record high for the city in 2020. That’s more than 13% higher than the median price in August 2020.  Agents in the city had 132 sales on 161 listings, 35.3% fewer than in August 2019. It took an average of 60 days for homes to sell in Longmont. The Loveland-Berthoud market also saw its highest median prices of the year in August. The median price for the month was $430,000, $22,000 higher than July, the next closest month. The market had 266 sales on 433 active listings, 22.5% fewer listings than in August 2019. It took an average of 69 days for homes to sell. While prices in Estes Park didn’t hit their 2020 peak in August, they were up compared to the previous month. Median prices in the mountain town were $554,500 in August, compared to $552,500 in July.  There were 44 sales on 128 active listings. Like the other cities in the region, listings shrivelled in August compared to 2019, when there were 11.1% more homes on the market. Homes in Estes Park took an average of 78 days to sell. © 2020 BizWest Media LLC
Source: BizWest

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