Market update for August 2016
By Luther
September 6, 2016

There are currently 2660 active single family listings on the market in the Pikes Peak region compared to 3378 last year at this time, which is an 21.3% decrease. Fewer listings, creates more demand which is driving prices up and helping homes sell faster. New listings on the market are up 2.4%. The average sales price was up 8.2% to $295,877 in August. Sales are up 5%.

The median single family sales price is up 9.7% compared to August 2015 (same number of homes sold above as below).

There are 233 condo/townhomes on the market compared to 295 last year at this time. The median price for Condo/townhomes is up 13.5% to $169,600 and sales are up 32.1%.

Cumulative year to date sales for 2016 are up 13.4% and the average price is up 5.3%.

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 to view all listings on the MLS

Luther Benson - Broker/Owner

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