Welcome to Living Colorado Springs!
While the real estate market conditions for Colorado Springs did not break any records last month, the average price came in second place for all time high at $507,508 which is up 18.3% over last November. We continue to see double-digit price appreciation in our area. Even the median price is up 18.4% at $450,000 which is the record-high (tying June, July & August).
As of December 1st, there are 858 homes for sale in the Pikes Peak Region and 1,844 homes pending sale. Luckily, this is the third month in a row where the inventory saw an increase (year-over-year). While we are seeing slightly more inventory (up 27.1 % from last year), prices continue to rise. Home sales were down slightly at 1.1% from last November at 1,466 homes sold.
The months-supply is sitting at 0.59 or roughly 18 days. So we still don't have even a 1-month supply of homes. But, as we start to see a little more inventory come on market, buyers will start to have more options, easing the competition ever so slightly on home buyers. However, things are still pretty competitive as the median time on market is only 5 days! On a positive note, we are seeing a slow decrease of the selling price versus list price. Last month the average selling price was 1.41% over asking. During the summer, we were seeing people pay on average 4.6% over asking, so this means buyers are starting to pay closer and closer to list price than they have the last few months.
Check out Colorado Springs Real Estate Market Conditions as of December 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!
Sign up below for a FREE property valuation!