The housing market moderation, likely caused by interest-rate increases and general economic uncertainty, has begun to show in Northern Colorado and the Boulder Valley.
May home sales, as reported by Information and Real Estate Services LLC, the multiple listing agency in the region, show the quantity of homes sold on par with April — either slightly up or slightly down — but in all but one community, median prices are down.
Still, in every community that IRES tracks and BizWest reports, median single-family home resale prices were well above May 2021.
Greeley/Evans saw 144 sales, down from 196 the prior month. The median sale price was $450,000, down from $452,800 the month prior, but 21.6% over the median in May 2021 of $370,000.
Sales in Fort Collins were up in May over April, 241 compared with 216. The May median dropped slightly, to $619,900, from the $620,500 recorded in April. It was 16.1% above the May 2021 median of $533,718.
Boulder, which has led the region in home prices, saw 53 homes sell in May, down from 57 in April. The median price dropped from $1.675 million in April to $1.508 million in May, which is still 22.7% higher than the May 2021 median of $1.229 million.
Estes Park, a tight-knit resort community, saw 26 sales in May, up from 21 in April. The median sales price of $850,000 was above the $763,500 median of April and 29% better than the $659,000 median of a year ago May.
Longmont, which recently reached the 100,000 population mark, saw 87 sales in May, up from 71 in April. The median price dropped to $630,000 from $663,000, but 13.5% up from the $555,000 recorded in May 2021.
Finally, Loveland/Berthoud sales were up over April, 218 versus 176. The median price dropped to $560,000 in May from $596,500 in April. This year's May median was 12% above the $500,000 set in May 2021.
This article was first published by BizWest, an independent news organization, and is published under a license agreement. © 2022 BizWest Media LLC.
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