There are currently 2599 active single family listings on the market in the Pikes Peak region compared to 3233 last year at this time which is a 19.4% decrease. Fewer listings creates more demand which should help to drive prices up and help homes sell faster. New listings on the market are also down 9.1%. The average sales price is up 7.3% to $255,652. Sales are up 28.4%. The cumulative YTD averages for all 12 months of 2014 show an improving market! Prices were up 2.8% and the average number of sales up 3.8%.
The median single family sales price is up 6.5% compared to last year in Dec (same number of homes sold above as below).
There are 303 condo/townhomes on the market compared to 348 last year at this time. The average price for Condo/townhomes was up 18.8% to $150,000 and sales are up 26.3%.
Rates are still 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!
Luther Benson - Broker/Owner
24 Years of Experience
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Here is the video version of the 2014 Colorado Springs Market in reveiw: