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Colorado Springs Market Information

Home inventory levels have increased by 94% for the month of July when compared to six months ago! Still, home inventory continues to remain low which is great for sellers but creates a housing shortage for buyers.

When compared to July 2017, there were 19 fewer homes for sale and 54 additional home sales in July 2017.  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 July, Single Family Home Inventory in the Pikes Peak MLS was sitting at 1.5 months (compared to 1.2 months in June). 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 decreased in El Paso County by 8% for the month of July when compared to the previous month of June. Compared this time last year, single family home sales are nearly 3% lower.

There were 54 additional single family home sales in July 2017. Compared to the previous month of June, the average sales price ($347,517) and median sales price ($310,000) decreased. Last July, the average sales price was $323,247 and the median sales price was $285,000. 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