My Blog
Market Update for January 2025
Sales and Prices Up
There are currently 2514 active single-family listings on the market in the Pikes Peak region compared to 1749 last year at this time which is a 43.7% increase in active listings. Active listings were up .4% in January compared to the month prior. New listings on the market were up 27% compared to last January. The average sales price was up 5% to $548,541 compared to January 2024 and was up .5% compared to the month prior, while sales were up 4%. 696 homes sold last month in the Pikes Peak region.
The below chart shows the average price and median price trends:
The median single family sales price was up 7.2% compared to January 2024 (same number of homes sold above as below) and is now $482,250. There is a 3.6 month supply of homes on the market.
The below chart shows number of sales YTD in comparison to the past 4 years:
There are 505 condo/townhomes on the market compared to 333 last year at this time, a 51.7% increase. The average price for Condo/townhomes is down .6% and the median price is down 5.6%. The average condo price is par from the prior. The median condo/townhome price is now $340,000. Condo Townhome sales are down 19.4%. New listings on the market are up 1%.
This chart shows the average days on market trends:
The average days on market is currently 68 days.
The below chart shows the number of new listings on the market by month in comparison to the last 4 years:
The below chart shows number of homes under contract at the end of January each year which is an indicator of sales for next month: