There are currently 1885 active single family listings on the market in the Pikes Peak region compared to 1859 last year at this time, which is a 1.4% increase. Fewer listings, creates more demand which is driving prices up and helping homes sell faster. New listings on the market are up 1.3%. The average sales price was up 11.2% to $355,927 in May and Sales were down 3.9%.
The median single family sales price is up 13.3% compared to May 2017 (same number of homes sold above as below).
There are 110 condo/townhomes on the market compared to 125 last year at this time, a 12% decrease. The median price for Condo/townhomes is up 13.5% to $210,000 and sales are up 1.4%.
Cumulative year to date sales for single family homes in 2018 are up 1.2% and the average price is up 11.8% over 2017. Volume is up 13.1% in 2018 for a total of $2,049,956,883 so far this year.
Rates are beginning to edge up so take advantage of this market sooner than later. This is a great time to sell and/or buy. It is also a great time to buy that investment property. Visit my 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