NoCo, Boulder Valley residential real estate remains resilient in face of economic uncertainty

LOVELAND — Despite a sagging national economy, continued high unemployment rates and ongoing COVID-19 concerns, the residential real estate market in the Boulder Valley and Northern Colorado regions remains strong, according to newly released data from Information and Real Estate Services LLC, based in Loveland. 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. The only cities where prices fell from June to July were Fort Collins and Greeley-Evans. The rest of the area saw prices climb compared to June and, in many cases, to July 2019. Not only have median prices remained stable, more homes are hitting the market and selling relatively quickly. Median prices in Boulder increased to $960,000 in July from $955,000 in June. July’s median was on par with the July 2019 price of $960,000. There were 91 homes sold in the city on 244 active listings. The average sale took 54 days. Prices fell in Fort Collins, where the median in July was $432,650. That’s down from $450,000 in June and $435,000 in July 2019. There were 346 homes sold on 720 listings, the second highest total for monthly listings in 2020. Homes sold in an average of 67 days. Home prices fell slightly in July in the Greeley-Evans market. The median home price for the month was $319,900, down from June’s median of $321,850 but up from July 2019’s median of $305,000. July saw the most number of homes, 221, sold during a single month in 2020. There were 306 active listings for the month. Homes were on the market for an average of 58 days. After a dip in May, Longmont median home prices bounced back in June and July. Last month saw median prices of $471,500. That’s up from $442,500 in June and $448,995 in July 2019. There were 133 homes sold in the city on 183 active listings. Those sales occurred in an average of 61 days. The Loveland-Berthoud market saw modest price gains in July. The median price last month was $408,000, up from $400,000 in June and $403,000 in July 2019. There were 321 sales — the most in a single month in 2020 — on 471 active listings. Homes sold in an average of 66 days.  Estes Park home prices rose significantly in July, when the median was $552,500. That’s up from $502,500 in June and $425,000 in July 2019. Last month there were 46 homes sold on 129 active listings. Those homes sold in an average of 46 days.   © 2020 BizWest Media LLC
Source: BizWest

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