The Colorado Springs Real Estate Market for January, 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. Even with an increased number of sales from 2014, the average days on the market numbers are still remarkably high, compared to this time last year. Let's take a look at the January 2015 real estate market numbers for Colorado Springs:
January 2015 Colorado Springs Real Estate Statistics
- New Listings: 1,082 (Down -10.9% from last year)
- Sold Listings: 636 (Up +6.7% from last year)
- Total Active Listings: 2,470 (Down -23.5% from last year)
- Average Sales Price: $261,310 (Up +11.4% from last year)
- Total Under Contract: 1,695 (Up +24.4% from last year)
- List To Sold Price Ratio: 98.5% (Almost the same as last year)
- Days on the Market: 106 Days (Up +19.4% from last year)
It's interesting to note that the "Days on the Market" stats are higher than average, but the overall "Sales Under Contract" for this January are way up. Usually, with depleting inventory and an increase in homebuyers, the days on the market will lower as the demand increases. This will be an important number to follow over the next few months as it will help to determine a shift in the market. It's likely that there were some properties sold with very high days on market that are causing this number to be so high. I expect it to go down to around 60 days on average in 2015.
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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