There are currently 3378 active single family listings on the market in the Pikes Peak region compared to 4104 last year at this time which is an 18% 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 9.6%. The average sales price was up 5.8% to $273,381 in August. Sales are up 24.5%.
The median single family sales price is also up 5% compared to last year in August (same number of homes sold above as below).
There are 295 condo/townhomes on the market compared to 403 last year at this time. The median price for Condo/townhomes is down 1.4% to $149,450 and sales are up 12%.
Cumulative year to date, sales are up 18% and the average price is up 7.6%.
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