Real Estate Statistics for COS August 2020 show that we once again broke records in terms of price and inventory.
While we did not break the sales record, August did come in second with 1,771 homes sold (the highest for an August month). Sales were up 14.9% over last year. Not to mention we have sold 10,955 homes year-to-date, up 167 from this time last year.
The average price hit a record high of $435,922 which is up 17.3% over last year.
The median price hit a record high of $380,000 up 15.2% over last year.
Most notably, our inventory keeps shrinking. As of September 1st, there are only 1,095 homes for sale, down 50.1% from last year! Essentially, we have half the number of homes for sale right now compared to the same time last year. This equates to only a 0.62 month (or 19 day) supply of homes, making it the lowest supply we have ever seen. There just aren’t enough homes for sale to keep up with buyer demand! There are 2,614 homes pending sale as of 9/1.
The competition for buyers keep growing due to lack of inventory and historically low interest rates. But did you know that you can afford more home now than ever before?
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