Single-family dwelling construction permits slowed in Greeley in 2024

Permits for multi-family dwellings increased, but the number of units plummeted

This chart shows the number of single-family dwelling construction permits submitted in Greeley from 2016-24. | Source: City of Greeley

The number of single-family dwellings¹ permitted for construction in Greeley slipped slightly this past year to 151, according to data from the city, down from 154 in 2023 and far below the eight-year average of 226 per year.²

Yet the valuation of permitted single-family dwellings actually increased — from $61.1 million in 2023 to $61.9 million in 2024.

This chart shows the total valuation of single-family construction permits in Greeley for each year from 2016-24. This data is not inflation-adjusted. | Source: City of Greeley

Greeley permitted 1,870 single-family dwellings for construction from 2016-24, with total valuations of more than $530 million. The long-term, inflation-adjusted average of single-family permit valuations during that time was about $336,000 per dwelling in 2024 dollars.

This chart shows the average valuation of single-family dwelling construction permits in Greeley for each year from 2016-24. This data is not inflation-adjusted. Note the spike in average valuation in 2023. | Source: City of Greeley

But it seems the single-family construction market in Greeley fundamentally shifted in 2023, when inflation-adjusted permit valuations increased by almost $70,000 over the previous year to $397,000 in 2024 dollars, well-above the long-term average.

The average valuation of permitted single-family dwellings in 2024 was $410,084, an increase of more than $13,000 per dwelling over an already-elevated 2023, rather than any reversion to the long-term mean.