Compared to our neighboring counties to the North of us, the Colorado Springs real estate market isn't as hot. But the Colorado Springs real estate market isn't as cold either.
Due to the differences in the MLS's, I can't report the data in the same formats.
In Douglas and Elbert counties, they are dealing with inventory shortages as compared to last year. That is not true for the Colorado Springs area.
Our inventory has increased a little bit. Our average days on market has decreased. Both median and average sales prices have increased.
| Pikes Peak Region | |||
| Colorado Springs area | |||
| Jan-13 | Jan-14 | ||
| Home Inventory | 2930 | 3228 | |
| Average Days on Market | 87 | 85 | |
| Average Sales Price | $ 227,575 | $ 234,580 | |
| Median Sales Price | $ 205,000 | $ 212,000 |
In El Paso County, 1,825 homes have sold between January 1 and March 30, 2014. That is down somewhat from the 2,211 homes that sold during the same time period last year.
This trend is similar to what Douglas and Elbert counties sales were. Maybe their decline can not be attributed to the decline in inventory?
In El Paso County, as of March 30, 2014:
Home Inventory: 3,211
Homes Under Contract: 778
Homes closed between March 1-30: 627
For March the average sales price was $231,841
The high selling home sold for $1,550,000.
If you live in the Colorado Springs area, this is a great time to list your home for the upcoming busy selling season.
Please note: This information was based on activity of homes that were listed with Realtors participating in the PPAR MLS. It may not include all sales.
Real estate is very local and dependent on location, condition and price. If you would like information about your home, please email me or call.
Sondra Meyer Peterson, CPA
Real Estate Photographer
Home Stager
Colorado Horse Property Specialist
Colorado. See It. Experience It. Live It
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