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Colorado Springs Market Information

Home inventory levels have increased by 62% for the month of June when compared to six months ago. Even with this increase, home inventory remains low which is great for sellers but it creates a housing shortage for buyers.

When compared to June 2016, there were 477 more homes for sale and 92 fewer home sales in June 2016. There continues to be competition among home buyers in the current real estate market especially in the lower price ranges due to the low home inventory in Colorado Springs.

For June, Single Family Home Inventory in the Pikes Peak MLS was sitting at 1.2 months (compared to 1.1 months in May). Looking at statistics over the past six months (all price ranges), we are at 1.3 months of inventory.

The months of home inventory continues to be favorable in Colorado Springs. There is a balanced market in Colorado Springs when inventory sits at 6 months. The real estate market continues to look good for sellers in Colorado Springs.

 

Single Family Home Inventory - Colorado Springs**Information gathered from the Pikes Peak MLS is deemed reliable but not guaranteed


 

Home sales increased in El Paso County by 7% for the month of June when compared to the previous month of May. Compared this time last year, single family home sales are nearly 6% higher.

There were 477 fewer single family home sales in June 2016. Compared to the previous month of May, the average sales price ($326,263) and the median sales price ($285,250) increased. Last June, the average sales price was $294,962 and the median sales price was $262,500. Competition among home buyers remains fierce in the current real estate market; many sellers are receiving multiple offers and selling their homes within days of putting them on the market.  This is the highest we have seen the average and median sales prices in Colorado Springs, ever!

 

Colorado Springs Home Sales**Information gathered from the Pikes Peak MLS is deemed reliable but not guaranteed

 

For more information about the Real Estate Market in Colorado Springs please view my Colorado Springs Realty Blog