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.
Broker Owner of Access Real Estate Professionals Inc.