Welcome to Living Colorado Springs!
Last month was an interesting month for real estate market conditions in Colorado Springs!
For the third month in a row, we have seen an increase in inventory with 2,637 homes for sale as of 9/1. However, it would appear that inventory has either already peaked, or come close, as the running 7 day averages for new listings and pending transactions would actually indicate there are more going under contract than are being listed. Our months-supply is now at 1.93 months or roughly 58 days.
While sales have slowed some since the red hot spring, and inventory is at a new high for the last several years, prices for the most part have held, with August closings at close to full price still. Even with the added inventory, prices are still going up. The average price increased 6.3% to $530,547 from last August. The median price increased 6.8% to $480,593. That doesn’t mean there haven’t been price reductions, there have been plenty of those, but mostly on houses that had been initially priced too high. September prices will likely appear to soften, as many of the pending transactions scheduled for closing in September appear to be in the more affordable range. Some of this may reflect the dampening effect rising interest rates have had on more expensive homes.
We specialize in providing quality service to our clients, whether buying or selling. We are experienced relocation professionals with extensive military knowledge and experience. We service Colorado Springs and surrounding areas, as well as Fort Carson, Schriever AFB, Peterson AFB, USAFA, and Cheyenne Mountain. We salute our brave men and women in the military.
The purpose of this site is to provide complete relocation, real estate, living and home buying information for Colorado Springs, Colorado. There is lot’s of information here, so please check the pull down menu buttons across the top of the page, the blog (which deals a lot with what living in Colorado Springs is really like) and Facebook feed on the right sidebar. We’ve got links for about everything you need for living in Colorado Springs, and adding more all the time.
We’re constantly adding more information to this site, so if you have problems, suggestions or questions, please call or text me (Rick Van Wieren, RE/MAX Properties Inc) at 719-331-7675 or email at rick@ricksellscolorado.com. Come back and visit often!
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