The Colorado Springs Real Estate Market Report for May 2017
The Bottom line:
May set another record for the most amount of homes sold in any previously recorded month of May. The interesting part is that we also had 10% fewer contracts written than in May of last year. This means that June's sales may be lower than expected. If so, this will most likely be due to the lack of homes available for sale in Colorado Springs.
Let's take a look at the May 2017 real estate market numbers for Colorado Springs:
May 2017 Colorado Springs Real Estate Statistics
- New Listings: 2,053 (Up +5.0% from last year)
- Sold Listings: 1,632 (Up +9.0% from last year)
- Total Active Listings: 1,859 (Down -19.0% from last year)
- Median Sales Price: $280,000 (Up +6.9% from last year)
- Total Under Contract: 2,801 (Down -9.9% from last year)
- List To Sold Price Ratio: 100.4% (Up +0.7% from last year)
- Days on the Market: 30 Days (Down -16.6% from last year)
The Colorado Spring's Spring Real Estate Market is Crazy!
Home buyers in Colorado Springs are feeling the pressure of an intense market. This market works well for the move up buyers selling below $500,000 and buying above $700,000, but the majority of home buyers are going to struggle to get a find a home in this low-inventory market. This is a crucial time to choose a great REALTOR to work with. They'll help you safely navigate this crazy real estate market to find your next home.
If you have any questions about buying or selling a home, please let us know. We're here to help whenever you need us. :)
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. If you need a local Realtor to help you better understand these number, please contact us. We'd love to hear from you!
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