Real Estate Stats April 2022 in Colorado was record-setting for home prices in the Pikes Peak Region!
The average price increased 16.6% to $561,631. This is up almost $80,000 from last April! The median home price rose 14.0% to $484,450. This is up nearly $60,000 from last year. Waiting even just 1 year will cost buyers substantially.
We did see a slight break in the clouds when it comes to inventory, as our inventory is up 300 homes from last month and up 420 homes over last year! We started the day with 988 homes for sale, but those will likely be under contract in just a few days. We still don’t have even a 1 month supply of homes, making the market the swift and competitive.
Last month came in second place for the total home sales in an April month. With 1,488 homes sold, we only missed tying the record by 1 sale.
Needless to say, things are not slowing down. It is important to note that interest rates are rising along with home prices. This can have a major impact on a buyer’s purchasing power, so don’t delay too long if you are thinking about buying.
Sellers — there really is no better time than NOW. Competition is low, demand is high, and you will likely get top dollar for your home.
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