Blog

Colorado Springs 2016 Real Estate Market in Review
By Luther
January 4, 2017

There are currently 1,536 active single family listings on the market in the Pikes Peak region compared to 2133 last year at this time, which is a 28% decrease. Fewer listings, creates more demand which is driving prices up and helping homes sell faster. New listings on the market are down 1.2%. The average sales price was up 7.8% to $287,294 in Dec and Sales are up 12%.

The median single family sales price is up 6.3% compared to Dec 2015 (same number of homes sold above as below).

There are 140 condo/townhomes on the market compared to 187 last year at this time. The median price for Condo/townhomes is up 11% to $190,543 and sales are up 15.8%.

Cumulative year to date sales for 2016 were up 15.6% and the average price is up 6.5%. Average Days on Market is 40. We broke an all time record with 15,318 total sales in 2016 with a 23.2% increase in volume for a total $4,383,276,336. Yup that’s right, 4.3 Billion.

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