The Colorado Springs Real Estate Market for October, 2014
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. This is an indicator of a strong housing market that is leaning more towards a sellers market in many areas. Let's take a look:
September 2014 Colorado Springs Real Estate Statistics
- New Listings: 1,187 (Up -1.3% from last year)
- Sold Listings: 9,72 (Up +4.6% from last year)
- Total Active Listings: 3,501 (Down -10.5% from last year)
- Average Sales Price: $256,678 (Up +3.6% from last year)
- Total Under Contract: 1,710 (Up +20.98% from last year)
- List To Sold Price Ratio: 98.4% (Up +0.8% from last year)
- Days on the Market: 88 Days (Up +19.4% from last year)
Yet another month of lowed inventory and an increase in home buyers. Our local real estate market in Colorado Springs seems to be heating up every month, even as we are headed into the winter months. As inventory is slowly depleted by the amount of homes selling and homebuyers start increasing in numbers, our local market will become more appealing for home sellers.
The national real estate statistics are showing a slow down in home value appreciation, but an increase in first-time home buyers. Millennials are expected to make their mark on the national real estate market over the next few years, according to data from the National Association of Realtors. This will cause prices to rise in the entry level home sales, but will not affect the median home sales as much.
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 me know; I would love to hear from you.
How's our local real estate market doing?
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