There are currently 3409 active single family listings on the market in the Pikes Peak region compared to 4226 last year at this time which is a 19% decrease. Fewer listings, creates more demand which should help to drive prices up and help homes sell faster. New listings on the market are up 14%. The average sales price was up 3.1% to $275,417 in July. Sales are up 14%.
The median single family sales price is also up 5.7% compared to last year in July (same number of homes sold above as below).
There are 300 condo/townhomes on the market compared to 401 last year at this time. The median price for Condo/townhomes is up 4.5% to $155,500 and sales are up 23%.
Cumulative year to date, sales are up 19% and the average price is up 8%.
Rates are incredibly low and prices are moving upward. This is a great time to sell and/or buy. It is also a great time to buy that investment property. Visit our website at www.lutherbenson.com to view all listings on the MLS or call us and we can create your own personalized home search! Call my cell today! 719-310-2404