Colorado Springs Home Sales Coming Alive
January and February were pretty slow months for the Colorado Springs real estate market, but March was a whole new story. Sales are still down from a year ago, and prices are even down a little. But compared with February, March was really strong. Median prices went up 4.5%. Sales were up 38.2%. The median days on market dropped from 36 to 22, and in looking at pending sales, homes with a Colorado Springs address had only 10 days median days on market. And the months supply of inventory is now all the way down to 1.42, which puts us solidly back into a sellers market. Some other highlights:
- Inventory increase of 124.5%, the smallest increase since last May
- 1,485 homes pending sale as of 4/1
- Sales down 21% last month at 1,075 homes sold, up 38.2% from last month
- Median time on market was 22 days, down from 36 last month
- Months-supply of homes at 1.42, the lowest since last June
While we don’t think prices will get all the way back to last summer’s peak, they are on the way back from the seasonal lows of this winter, and we are seeing steady progress.
If you feel you may not be in the right house, call Rick at 719-331-7675 and let’s discuss the situation and come up with a plan. The selection available is so much better than it was last year at this, and there is less ‘crazy’ in the market to deal with!
To see more detailed information on the Real Estate Stats for Colorado Springs, please visit our Market Conditions page.
Please give me a call whether you are thinking of buying or selling! We would be honored to help you in your home buying or selling journey!
Rick Van Wieren (719) 331-7675
