Living Colorado Springs

While the real estate market conditions for Colorado Springs did not break any records last month, the average price came in third place for all time high at $505,853 which is up 15.7% over last December. We continue to see double-digit price appreciation in our area. The median price remained the same from last month at $450,000. Home sales were up 4.9% from last December at 1,443 homes sold.

As of January 3rd, there are 661 homes for sale in the Pikes Peak Region and 1,467 homes pending sale. Luckily, this is the fourth month in a row where the inventory saw an increase (year-over-year). While we are seeing slightly more inventory (up 24.3 % from last year), we still do not have enough homes to sell.

The months-supply is sitting at 0.46 or roughly 14 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 around 2 weeks! On a positive note, we are seeing a slow decrease of the selling price versus list price. Last month the average selling price was 1.05% 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.

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 two week or less. As we start to see more inventory, you will have more competition! The inventory is so low right now, we have buyers that NEED your home!

For 2022 we are anticipating more homes to come on the market and a slight slowing of price appreciation (not depreciation!). Interest rates are forecasted to rise this year, decreasing buying power for buyers.

Check out Colorado Springs Real Estate Market Conditions as of January 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 rick@ricksellscolorado.com. Come back and visit often!
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