Market Conditions

Colorado Springs average home price hit a near all time record in July  of $323,242. The median also was near it’s all time high at $285,000. Half of the homes closed in July were under contract in 8 days or less. The months supply of homes for sale is only 1.43. Homes sales are undoubtedly being held back by lack of inventory. As the back to school season kicks, we may see a little less hectic pace, but with unemployment at 2.8% and interest rates still right around 4%, we don’t really see a 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 July data:

  • Sales up 10.8% at 1,646 units
  • Average price up 9.9% at $323,242
  • Median price up 10.7% at $285,000
  • Inventory of unsold homes down 15.1% at 2,361 homes (this is extremely low)
  • Months supply of homes for sale 1.43 (6 is considered ‘normal’)
  • Pending Sales 2,307 (down 10.3% over 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 7/31/17 . 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 8/4/2017

Share and Enjoy:
  • Print
  • Digg
  • StumbleUpon
  • Facebook
  • Yahoo! Buzz
  • Twitter
  • Google Bookmarks

Leave a Reply

Your email address will not be published. Required fields are marked *