Market Conditions

November home sales in Colorado Springs were still strong, up 4.9% over last year, at 1,255 units. Sellers were all smiles, with the average price up 10.1% at $317,368 and the median up 9.1% at $280,000. The months supply of homes for sale is only 1.36. Homes sales are undoubtedly being held back by lack of inventory. We may see a little less hectic pace, but with unemployment at 3.2% and interest rates still right around 4%, we don’t really see a real slow down coming. Also look for new construction, much of which is not reflected in these figures, to help bridge the gap.

Here is a brief summary of some of the November data:

  • Sales up 4.9% at 1,255 units
  • Average price up 10.1% at $317,368
  • Median price up 9.1% at $280,000
  • Inventory of unsold homes down 11.9% at 1,702 homes (this is extremely low)
  • Months supply of homes for sale 1.36 (6 is considered ‘normal’)
  • Pending Sales 1,658 (down 15.5% from last year at this time)

For more details, see the Colorado Springs Homes Sales Trend Data

“Based on information from the Pikes Peak REALTOR Services Corp. (“RSC”), for the period 1/1/05 through 11/30/17 . RSC does not guarantee or is in any way responsible for its accuracy. Data maintained by RSC may not reflect all real estate activity in the market.” Copyright © 2017 REALTOR® Services Corp. Questions about this data analysis should be directed to Rick Van Wieren, RE/MAX Properties, Inc, 1740 Chapel Hills Dr, Colorado Springs, CO 80920 ph 719-331-7675 or email

Updated as of 11/1/2017

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