There are currently only 2936 active single family listings on the market in the Pikes Peak region compared to 3501 last year at this time which is a 16% decrease. Fewer listings, creates more demand which will help to drive prices up and help homes sell faster. New listings on the market are up only 0.8%. The average sales price was up 2.7% to $263,584 in Oct. Sales are up 14% compared to last October.
The median single family sales price is also up 4.4% compared to last year in October (same number of homes sold above as below).
There are 253 condo/townhomes on the market compared to 386 last year at this time. The average condo/townhome price is up 4.8%. The median price for Condo/townhomes is up 5.4% to $169,350 and sales are up 24%.
Cumulative year to date single family sales are up 19% and the average price is up 6.9%.
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