Market Conditions

Records upon records were broken in December 2019 for the Pikes Peak Region! We hit new record sales for a December month with 1,247 homes sold, up 17.2% from last December.

We also hit record median and average home prices for a December month at $329,990 and $364,585 respectively.

We have record low inventory numbers with only a 1.04 month supply in the Pikes Peak region– less for homes with a Colorado Springs address. As of January 1st, there are only 1,295 homes for sale.

With full employment and low interest rates, it is one of the strongest fall markets we’ve seen in a while. With Pending sales up 24.1% as well, the next couple of months also look very strong for closings.

Colorado Springs was recently called out as a number 1 market to watch
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 December data:

Sales up 17.2% at 1,247 units
Average price up 7.0% at $364,585
Median price up 9.7% at $329,990
Inventory of unsold homes down 23.2% at 1,295 homes
Months supply of homes for sale 1.04
Pending Sales 1,354

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 1/1/05 through 1/1/20. 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 © 2019 REALTOR® Services Corp. Questions about this data analysis should be directed to Rick Van Wieren, RE/MAX Properties, Inc, 1740 Chapel Hills Dr, Colorado Springs, CO 80920 ph 719-331-7675 or email rick@ricksellscolorado.com

Updated as of 1/2/2020