Real Estate Statistics for Colorado Springs September 2020 show that we once again broke records in regards to low inventory.
As of October 1st, there are only 992 homes for sale in the entire Pikes Peak Region. This equates to a mere 0.55 month supply of homes (roughly 16 days)! There is even less to choose from if you want a home with a Colorado Springs mailing address, or under the median price of $385,000.
Sales were up over 29% over last year at 1,804 homes sold. 12,759 homes have been sold year-to-date, which is 577 more homes sold this year than last.
The average price for September was $431,293 which is up 17.1% over last year.
The median price hit a record high of $385,000 up 18.3% over last year.
There are 2,447 homes pending sale as of 10/1.
According to the real estate statistics for Colorado Springs September 2020, prices are not easing up and the competition for buyers keep growing due to lack of inventory and historically low interest rates. Buyers are seeing fierce competition and multiple offer situations. But did you know that you can afford more home now than ever before? If you are thinking of buying in the near future, don’t wait! Take advantage of these low interest rates, plus prices will likely continue to rise and you will end up paying more by waiting.
We need more listings for our buyers! If you have been debating on selling, NOW may be the time! There is much less competition, plus a high demand. Please reach out to us so that we can help you come up with the best strategy for your situation!
To see more detailed information, please visit our Market Conditions page.
Please give us a call whether you are thinking of buying or selling!
Rick Van Wieren (719) 331-7675
Mary Barkley (719) 421-9360