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Colorado Springs Market Information

Home inventory levels have decreased by 44% for the month of December when compared to six months ago. This is the lowest we have seen home inventory in a long time!  Great news for sellers but it creates a housing shortage for buyers.

When compared to December 2016, there were 597 more homes for sale and 131 fewer home sales in December 2015. 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 December, Single Family Home Inventory in the Pikes Peak MLS was sitting at 1.2 months (compared to 1.6 months in November). Looking at statistics over the past six months (all price ranges), we are at 1.7 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 3.3% for the month of December when compared to the previous month of November. Compared this time last year, single family home sales are nearly 12% higher.

There were 131 fewer single family home sales in December 2015. Compared to the previous month of November, the average sales price ($287,294) and the median sales price ($255,000) slightly decreased. Last December, the average sales price was $266,553 and the median sales price was $239,900. 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.

 

 

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