The Colorado Springs Real Estate Market Report for March 2016
According to the new data released by the Pikes Peak Association of REALTORS®, the Colorado Springs real estate market is still struggling to find enough homes to meet the demands of the intense home buying market.
The Bottom line:
We are still on track to sell more homes than we currently have on the market this month. We simply need more homes to meet buyer demand.
Let's take a look at the March 2016 real estate market numbers for Colorado Springs:
March 2016 Colorado Springs Real Estate Statistics
- New Listings: 1,790 (Up +9.4% from last year)
- Sold Listings: 1,172 (Up +13.9% from last year)
- Total Active Listings: 1,941 (Down -23.6% from last year)
- Median Sales Price: $239,500 (Up +6.1% from last year)
- Total Under Contract: 2,273 (Up +13.2% from last year)
- List To Sold Price Ratio: 98.9% (Up +0.8% from last year)
- Days on the Market: 60 Days (Down 45.5% from last year)
The Colorado Springs Real Estate Market is Strong!
March is usually the month where we see an increase in home sales, coming out of the winter months. Although we did see a large increase over last year, some heavy snow storms kept the sales numbers down lower than expected. We are still seeing the same trends of less inventory and very high buyer demand. We still need more listing to satisfy our busy market in April.
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.
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