Blog

Market Update for Colorado Springs July Stats
By Luther
August 10, 2018

Market Update

There are currently 2385 active single family listings on the market in the Pikes Peak region compared to 2366 last year at this time, which is a .8% increase. Fewer listings, creates more demand which is driving prices up and helping homes sell faster. New listings on the market are down 3%. The average sales price was up 7.5% to $347,517 in July and Sales were down 3.3%. The median single family sales price is up 8.8% compared to July 2017 (same number of homes sold above as below).

There are 161 condo/townhomes on the market compared to 161 last year at this time, a 1.2% decrease. The median price for Condo/townhomes is up 13.5% to $218,000 and sales are down 7.8%.

Cumulative year to date sales for single family homes in 2018 are up .1% and the average price is up 10.8% over 2017. Volume is up 11% in 2018 for a total of $3,231,103,680 so far this year.

The market is still robust. 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.

Luther Benson Broker/Owner

Access Real Estate Professionals inc.

7419-310-2404

luther@lutherbenson.com