Real Estate Stats August 2021
Real Estate Stats August 2021 in Colorado Springs nearly broke the record in terms of home sales for a single month. Last month came in second place with 1,870 homes sold, up 5.6% from last year. Plus, homes are selling for 2.7% over asking price on average, indicating how strong the demand remains for real estate. There are currently 2,317 homes pending sale as of 9/1.
The average sold price dipped just below the $500k threshold at $499,278 up 14.5% (or over $63,000!) from last August. The median sold price tied last month’s record high of $450,000 which is up 18.4% (or $70,000!) from last year.
The good news is that we saw another increase in inventory. As of September 1st, there are 1,008 homes for sale. While this is down 6.4% from last year, it is the first time we have had over 1,000 homes for sale since August 2020 and nearly double the amount of homes for sale during the first half of the year. We are sitting at a 0.54-month supply of homes, or roughly 16 days.
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.
Here’s what we predict is in store for the real estate market in the second half of 2021.
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