The Colorado Springs Real Estate Market for February, 2015
According to the new data released by the Pikes Peak Association of REALTORS®, the Colorado Springs real estate market is steadily selling inventory, while also gaining more home buyers, following the same trends from the end of 2014. Let's take a look at the February 2015 real estate market numbers for Colorado Springs:
February 2015 Colorado Springs Real Estate Statistics
- New Listings: 1,127 (Down +5.8% from last year)
- Sold Listings: 717 (Up +25.1% from last year)
- Total Active Listings: 2,429 (No Data from last year)
- Median Sales Price: $225,000 (Up +14.8% from last year)
- Total Under Contract: 1,974 (No Data from last year)
- List To Sold Price Ratio: 98.3% (Almost the same as last year)
- Days on the Market: 110 Days (Up +0.03% from last year)
We're starting to see more new listings come on the market, which is great. We need them! Last month, Colorado Springs had the 3rd largest inventory drop in the country, behind Las Vegas. With low inventory, sellers are seeing an increase in home values. The median sale price has increased by 14.8% in one year. That is a very large increase. The total number of sales has increased by 25.1% as well, which points to a huge demand increase in our local real estate market. These numbers all indicate that we are going to have a very busy Spring & Summer selling season. We're definitely seeing the increase in business here at GreatColoradoHomes.com.
These numbers cover all of Colorado Springs, CO and the surrounding areas, including Black Forest, Broadmoor, Briargate, Fountain, Falcon, Gleneagle, Larkspur, Manitou Springs, Monument, Northgate, Old Colorado City, Palmer Lake, Peyton, Powers, Rockrimmon, Security, Tri-Lakes, Widefield, Woodland Park, and Woodmoor areas.
As always, if you have any specific questions about the market or if you need help buying and/or selling real estate in the Colorado Springs area, let us know; we would love to hear from you.
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