Welcome to Living Colorado Springs!
There just aren't enough homes for sale for buyers in the Pikes Peak Region! The inventory remains critically low, driving prices up in our area.
Once again we saw record breaking, double-digit price increases for both the median and average sold price (year over year). High demand and lack of supply continue to push prices upward in our area. The median price hit a high of $425,000 last month, up 18.1%. The average price increased 22.6% to a record high of $481,858.
The inventory remains seriously low, at only 568 homes for sale in the entire Pikes Peak Region (the lowest number we have ever seen!). How tight is the inventory? As of this morning 5/3, there were only 228 homes for sale in our MLS with a Colorado Springs address that were existing, not new build homes. At any price. Of those, only 68 were under $400k. Last year on May 1st we had 1,558 homes for sale compared to the 568 homes for sale today.
Home sales were up at 22.2% from last April at 1,489 homes sold. Pending sales are sitting at 2,258 homes as of May 3rd.
So what does all that mean for you as a seller? List your home with us now, and we'll likely have it under contract in less than 4 days, and for more than the asking price.
What does all this mean for buyers? Plan on writing many offers over the course of several weeks before you win one. Unless of course you have plenty of cash, and are willing to pay well more than what the appraisals would indicate. Let us help you get the house you want in a time of no inventory!
Check out Colorado Springs Real Estate Market Conditions as of May 1.
Do you like to search for homes on your own? There is a search facility that allows us to set up pre-selected searches to help you get started, in addition to being map based and allowing searches for things as specific as floor plans or school districts. Search for homes here.
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 firstname.lastname@example.org. Come back and visit often!
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