Real Estate in Colorado Springs June 2021
Real Estate in Colorado Springs June 2021 broke price records yet again!
The average sold price crossed the $500k threshold and hit a record high of $502,962 up 25.1% (or over $100,000!) from last June. The median sold price hit a record high of $450,000 which is up 25.0% (or $90,000!) from last year. Experts expect homes to continue to rise in price throughout the rest of the year.
The good news is that we saw the slightest increase in inventory. As of July 1st, there were 775 homes for sale. While this is down 51% from last year, it is up nearly 200 homes from last month. 200 homes may not be much, but anything helps our current inventory shortage. We are sitting at a 0.43-month supply of homes, or roughly 13 days. It will take a while for our inventory to catch up to buyer demand, however, at least this a small step in the right direction and there may be a light at the end of the tunnel for buyers struggling to find a home.
Demand remains strong, with sales up 7.8% last month with 1,816 homes sold.
More than ever, this is a GREAT time to sell. Our buyers NEED your listing! If you are thinking of selling, please give us a call!
Buyers truly need an expert on their side to navigate this crazy environment. Our team has over 29 years experience to help you find your dream home in a time of no inventory. Interest rates remain extremely low, increasing affordability for buyers. Take advantage of your increased purchasing power now because these rates are forecasted to rise.
To see more detailed information on the Real Estate Stats for Colorado Springs, please visit our Market Conditions page.
Please give us 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
Mary Barkley (719) 421-9360