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