December 2019 set records for the Colorado Springs real estate market! Home sales were up 17.2%, setting a new December record with 1,247 homes sold.
The median price also set a new record for a December month at $329,990, up 9.7% over last year.
Even more shockingly, the inventory set a new record low at 1,295 homes in the Pikes Peak Region, down 23.2% over last year.
Worse still, if you are looking at homes with a Colorado Springs mailing address, the inventory is even tighter– a 0.75 month supply or approximately 23 days!
For more detailed information, visit our Market Conditions page.
Interest rates remain low and with homes selling so fast, it is hard for our inventory to keep pace.
The biggest thing that buyers can do to help this situation is to be proactive and be prepared– get pre-qualified and have the right team on your side.
For sellers, NOW is the time to sell. Demand is high and inventory is low, meaning less competition.
If you are looking to make a move in 2020, please give us a call. We would be honored to help!
Rick Van Wieren (719) 331-7675
Mary Barkley (719) 421-9360