Have you been keeping up with the local housing market? If not, this year’s statistics might surprise you. If you’re thinking of buying or selling property, or just interested in the housing market, these numbers give you insights into the Colorado Springs housing market.
Average sales price has increased by almost 20% over the last year. Meanwhile the available inventory, which is the number of properties for sale at any given time, has dropped by more than half. The average days a home is listed on the market before going to contract is a stunning nine days.
Number of sales and average sales price saw a steady increase in the first quarter of 2021 compared to 2020.
The number of sales skyrocketed over the second quarter in Spring selling season. By the end of June 2021, the average sales price has increased by more than $100,000 compared to June 2020!
August 2021 saw a 4.1% increase in sales and 14.5% increase in average sales price compared to the same time period last year.
This tells us there is still plenty of demand and the market is increasingly competitive among buyers. Colorado Springs continues to be a popular place live in the United States, coming in at number six on US News and World Report’s list of 150 Best Places to Live in the U.S. in 2021-2022. If you’re ready to buy or sell, contact us for expert service that will give you the edge in Colorado Springs’ increasingly competitive market.