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Northern Colorado Market Update

Today’s housing market is different than what we experienced the last couple years. The buyer feeding frenzy has slowed down with the rise in mortgage interest rates, which in turn has slowed the multiple offer situations that sellers were finding themselves in. Housing inventory was up in 2022 compared to what we saw in 2021 all across Northern Colorado. Average days on market (ADOM) is fairly consistent across Northern Colorado hoovering at the 45–50-day mark. All cities in Northern Colorado saw a rise in median sales price in 2022 with Greeley/Evans remaining as the most affordable community with a median sales price of $438,000 at year end.

What do we expect in 2023? We expect for our housing market to normalize. We expect mortgage rates and inventory levels to stabilize, as well as appreciation.

As always, before buying or selling your home you should speak to a local REALTOR®. If you have questions about real estate headlines or about how much equity you have in your home, let’s talk. The brokers at Sears Real Estate are happy to answer your real estate questions and any questions you have about the statistics you’ll find below.

Greeley/Evans Year End 2022

2454 | +15.6% Year over year
*YTD Active Monthly Listings

1559 | -6.9% Year over year
*YTD # Listings Sold

51 | +30.8% Year over year
*YTD Average Days on Market

$438,000 | +15.3% Year over year
*YTD Monthly Median Sales Price

Fort Collins Year End 2022

4253 | +8.7% Year over year
*YTD Active Monthly Listings

2247 | -26.4% Year over year
*YTD # Listings Sold

45 | -15.1% Year over year
*YTD Average Days on Market

$600,000 | +15.4 % Year over year
*YTD Monthly Median Sales Price

Loveland/Berthoud Year End 2022

2994 | +2.1% Year over year
*YTD Active Monthly Listings

1798 | -25.1% Year over year
*YTD # Listings Sold

50 | -3.8% Year over year
*YTD Average Days on Market

$558,365 | +16.3 % Year over year
*YTD Monthly Median Sales Price

Information generated from IRES, the MLS system used by our office. All reported sales were not necessarily listed or sold by the reporting broker. The data is intended to only show trends in the area. * YEAR TO DATE. YEAR OVER YEAR comparison of 2022 vs. 2021.

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