Blog

Market Upate for Colorado Springs 10/2017
By Luther
November 2, 2017

Market Update

There are currently 1939 active single family listings on the market in the Pikes Peak region compared to 2227 last year at this time, which is a 12.9% decrease. Fewer listings, creates more demand which is driving prices up and helping homes sell faster. New listings on the market are up 8.4%. The average sales price was up 7.9% to $317,112 in Oct and Sales are up 13%.

The median single family sales price is up 9.7% compared to Oct 2016 (same number of homes sold above as below).

There are 119 condo/townhomes on the market compared to 200 last year at this time. The median price for Condo/townhomes is up 12.7% to $195,000 and sales are up 15.3%.

Cumulative year to date sales for 2017 are up 7.7% and the average price is up 9.7%. Average Days on Market is 30.

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.

Luther Benson

Broker Owner of Access Real Estate Professionals Inc.

719-310-2404