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Colorado Springs Market Information

Home inventory levels have increased by 50% for the month of August when compared to six months ago. Home inventory continues to remain low which is great for sellers but creates a housing shortage for buyers.

When compared to August 2018, there were 222 fewer homes for sale and 13 fewer home sales in August 2018.  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 August, Single Family Home Inventory in the Pikes Peak MLS was sitting at 1.5 months (compared to 1.3 months in July). Looking at statistics over the past six months (all price ranges), we are also 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.

 

El Paso County Home Inventory - Colorado Springs Real Estate**Information gathered from the Pikes Peak MLS is deemed reliable but not guaranteed


 

Home sales increased in El Paso County by 7.2% for the month of August when compared to the previous month of July. Compared this time last year, single family home sales are .8% higher.

There were 13 fewer single family home sales in August 2018. Compared to the previous month of July, the average sales price ($372.607) and median sales price ($332,000) increased. Last August, the average sales price was $357,313 and the median sales price was $315,000. 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.

 

El Paso County Home Sales - Colorado Springs Real Estate**Information gathered from the Pikes Peak MLS is deemed reliable but not guaranteed