Here is the market watch data for the Pikes Peak Association of Realtors® for the last 7 days.
New Listing (344)
Price Increase (63)
Price Decrease (244)
Back On Market (78)
UC 1st Rgt - Showing (2)
Under Contract - Showing (275)
UC Short Sale - Showing (3)
275 properties went under contract – showing and another 314 went pending for a total of 589.
356 properties closed.
With only 344 new listings, inventory levels remain very low.
63 sellers felt confident enough to raise their price while 244 sellers found they needed to lower their price.
As often happens in a hot market, properties can be quick to go under contract but then sometimes fall out of contract and end up back on the market. 78 properties came back on the market.
Choosing which property to buy in a hot market can be tricky. Buyers need to be working with a veteran broker who can educate them on the important differences between properties and help them with a strategy to get the house they want.