The Colorado Springs Real Estate Market Report for July 2016
According to the new data released by the Pikes Peak Association of REALTORS® for July 2016, the Colorado Springs real estate market is finally starting to balance out a little, after a crazy record breaking April.
The Bottom line:
July had slightly less homes sold than the previous month and the median sales price dropped a bit, signifying a slight change in our market.
Let's take a look at the July 2016 real estate market numbers for Colorado Springs:
July 2016 Colorado Springs Real Estate Statistics
- New Listings: 1,932 (Up +2.6% from last year)
- Sold Listings: 1,485 (Up +8.0% from last year)
- Total Active Listings: 2,780 (Down -18.5% from last year)
- Median Sales Price: $257,500 (Up +4.8% from last year)
- Total Under Contract: 2,923 (Up +18.9% from last year)
- List To Sold Price Ratio: 99.6% (Up +0.8% from last year)
- Days on the Market: 28 Days (Down 61% from last year)
The Colorado Springs Real Estate Market is Going Strong!
June holds the record for the most amount of homes sold in our city's history. July is showing a predictable drop in sales as we near the end of Summer. Our inventory is still very low though, which is causing the median home sale price to keep rising. Low inventory also means more contracts falling apart. The sense of urgency experienced by Colorado Springs home buyers in this market is causing people to make offers on homes that they are not 100% sure about, just so that they don't let the home slip away. We need more homes on the market!
These numbers cover all of Colorado Springs, CO and the surrounding areas, including Black Forest, Broadmoor, Briargate, Divide, Florissant, Fountain, Falcon, Gleneagle, Larkspur, Lake George, Manitou Springs, Monument, Northgate, Old Colorado City, Palmer Lake, Peyton, Powers, Rockrimmon, Security, Tri-Lakes, Widefield, Woodland Park, and Woodmoor areas.
Click any of the links below to view the newest listed homes within that criteria.
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