There are currently 2227 active single family listings on the market in the Pikes Peak region compared to 2936 last year at this time which is a 24% decrease. Fewer listings, creates more demand which should help to drive prices up and help homes sell faster. New listings on the market are up 1.8%. The average sales price was up 11.5% to $293,972 in October. Sales are up 14.4%. 1266 homes sold in the Pikes Peak region in October.
The median single family sales price is also up 8.8% compared to October 2015 (same number of homes sold above as below).
There are 200 condo/townhomes on the market compared to 221 last year at this time. The median price for Condo/townhomes is up 11.6% to $173,000 and sales are up 10.2%.
Cumulative year to date, sales for 2016 are up 13.7% and the average price is up 6.3%. Average Days on Market is 36.
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