Last month was an interesting month for real estate market conditions in Colorado Springs!
The most exciting statistic is our significant increase in inventory. As of August 1st, we have 2,605 homes for sale. This is the highest level we have seen since August 2016! This is a much needed increase in inventory for our buyers. In fact, the inventory level is up over 160.8% from last July! Our months-supply is now at 1.86 months or roughly 56 days.
Even with the added inventory, prices are still going up. The average price increased 11.2% to $557,250 from last year. The median price increased 7.2% to 482,500.
Other big takeaways last month include:
- Median and average prices are still increasing
- The median time on market is only 7 days
- Inventory is up quite a bit at 2,605 homes for sale
Interest rates have decreased slightly. As of right now, rates are sitting in the high 4’s. This decrease in rates will help purchasing power for buyers. Every little bit helps! It’s important not to wait too long if you are seriously looking to buy– not only will rates go up, but so will prices.
Colorado Springs was recently ranked the #2 best place to live in the US by US News and World report, a reminder that upward pressure may continue for some time on our market.
Here is a brief summary of some of the July data:
- Sales down 23.9% at 1,403 units
- Average price up 11.2% at $557,250
- Median price up 7.2% at $482,500
- Inventory of unsold homes up 160.8% at 2,605 homes
- Months supply of homes for sale 1.86
- Pending Sales 1,774
For more details, see the Colorado Springs Homes Sales Trend Data
“Based on information from the Pikes Peak REALTOR Services Corp. (“RSC”), for the period 7/1/22 through 7/31/22. RSC does not guarantee or is in any way responsible for its accuracy. Data maintained by RSC may not reflect all real estate activity in the market.” Copyright © 2020 REALTOR® Services Corp. Questions about this data analysis should be directed to Rick Van Wieren, RE/MAX Properties, Inc, 1915 Democracy Pt, Colorado Springs, CO 80908 ph 719-331-7675 or email rick@ricksellscolorado.com
Updated as of 8/1/2022
Pingback: Real Estate Stats June 2022 - Living Colorado Springs
Pingback: Old Farm Real Estate Stats April 2022 - oldfarmnews.com
Pingback: Forest Meadows Real Estate May 2022 - Forest Meadows News
Pingback: Real Estate Stats April 2022 - Living Colorado Springs
Pingback: Old Farm Real Estate Stats March 2022 - oldfarmnews.com
Pingback: Real Estate Stats January 2022 in Colorado Springs - Living Colorado Springs
Pingback: Old Farm Real Estate Stats December 2021 - oldfarmnews.com
Pingback: Real Estate Stats September 2021 - Living Colorado Springs
Pingback: Real Estate Stats August 2021 - Living Colorado Springs
Pingback: Old Farm Real Estate Stats June 2021 - oldfarmnews.com
Pingback: Real Estate in Colorado Springs June 2021 - Living Colorado Springs
Pingback: Forest Meadows Real Estate Stats May 2021 - Forest Meadows News
Pingback: Real Estate in Colorado Springs May 2021 - Living Colorado Springs
Pingback: Real Estate in Colorado Springs April 2021 - Living Colorado Springs
Pingback: Real Estate in Colorado Springs March 2021 - Living Colorado Springs
Pingback: Real Estate Colorado Springs February 2021 - Living Colorado Springs
Pingback: Forest Meadows Real Estate Stats Jan 2021 - Forest Meadows News
Pingback: Forest Meadows Real Estate Stats Dec 2020 - Forest Meadows News
Pingback: Real Estate Stats for Colorado Springs December 2020 - Living Colorado Springs
Pingback: Real Estate Statistics in COS July 2020 - Living Colorado Springs
Pingback: Real Estate Statistics for COS August 2020 - Living Colorado Springs
Pingback: Real Estate Stats for Colorado Springs October 2020 - Living Colorado Springs
Pingback: Real Estate Sales and Growth - Living Colorado Springs
Pingback: Real Estate Statistics for Colorado Springs September 2020 - Living Colorado Springs
Pingback: Real Estate Stats for Forest Meadows August 2020 - Forest Meadows News
Pingback: Old Farm Real Estate Stats YTD - oldfarmnews.com
Pingback: Forest Meadows Real Estate Stats YTD - Forest Meadows News
Pingback: May Real Estate Stats Forest Meadows COS - Forest Meadows News
Pingback: May Real Estate Stats Old Farm CO Springs - oldfarmnews.com
Pingback: Real Estate Stimulates the Economy | Living Colorado Springs
Pingback: COVID19 & the COS Real Estate Market | Living Colorado Springs
Pingback: January stats for Old Farm in Co Springs - oldfarmnews.com
Pingback: January Stats for Forest Meadows - Forest Meadows News
Pingback: Relocating to Colorado Springs? 4 reasons why you made the right choice
Thank you for sharing our market conditions! We hope you find them useful!
Pingback: Market Snapshot: Colorado Springs – October 2019 – Lauren Stadjuhar Realty
Thank you for sharing our stats! We hope you find them useful!
Pingback: Market Conditions in Colorado Springs are breaking records this summer – Lauren Stadjuhar Realty
Pingback: July 1 Stats Forest Meadows & The Trails – Forest Meadows News
Pingback: July 1 Old Farm Stats – oldfarmnews.com
Awesome website and information, thank you!