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Market update for March Stats 2024

Prices and inventories up, Sales Down

There are currently 1868 active single family listings on the market in the Pikes Peak region compared to 1480 last year at this time which is a 26.2% increase in active listings. New listings on the market were down 5.4% compared to last March. The average sales price was up .7% to $527,629 compared to last March 2023 and was up 3.2% compared to the previous month, while sales were down 12.5%. That's still 941 single family homes that sold locally last month.

The below chart shows the average price and median price trends:

A graph of average and median sales

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The median single family sales price was up 2.2% compared to March 2023 and was up 3.1% from the previous month (same number of homes sold above as below) and is now $470,000. There is a 2 month supply of homes on the market. 

Cumulative year to date sales are down 7.4% and the average price up .6%. Cumulative YTD new listings on the market up 2.5%.

The below chart shows number of sales YTD in comparison to the past 4 years:

A graph showing the sales of a home

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There are 364 condo/townhomes on the market compared to 236 last year at this time, a 54.2% increase. The average price for Condo/townhomes is up 2.8% and the median price is down 1.5% to $335,000. Condo Townhome sales are down 6.2%. New listings on the market are up 7.8%.

This chart shows the average days on market trends. The average days on market is currently 56 days.