The East Colorado Springs housing market saw a good month in October of 2017 but not a great month. The overall market in El Paso County Colorado has seen some slowing as well. We feel like this is happening because of a lack of inventory in conjunction with rising sales prices.
Here is the breakdown:
| Year | Homes Sold | Median Sales Price | Median Price Per Sq Ft | Average Days on Market |
|---|---|---|---|---|
| 2007 | 766 | $173,000 | $94.45 | 93 |
| 2008 | 638 | $164,600 | $86.38 | 101 |
| 2009 | 688 | $162,000 | $83.25 | 86 |
| 2010 | 623 | $159,000 | $84.02 | 96 |
| 2011 | 644 | $147,900 | $77.34 | 122 |
| 2012 | 704 | $153,050 | $81.21 | 102 |
| 2013 | 815 | $167,000 | $86.19 | 87 |
| 2014 | 888 | $173,000 | $91.35 | 81 |
| 2015 | 1024 | $184,900 | $99.23 | 65 |
| 2016 | 1191 | $205,000 | $106.73 | 28 |
| 2017 (YTD) | 1056 | $230,000 | $120.03 | 21 |
East Colorado Springs saw 91 home sales in the month of October 2017. This was down 33% from the previous month. At the same time, the median sales price has increased a whopping 12.5% over the previous year. The good news is that this number remains significantly lower than El Paso County overall by 14%.
The number of home sales is still strong but the general lack of inventory is slowing this market down. If you live on the east side of Colorado Springs, now might be a great time to sell. If this is something you are considering, we would love to talk to you about representing you as a Sellers Agent.
We will continue to monitor the East Colorado Springs Real Estate Market.
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We have been compiling statistics both locally and nationally for many years. These reports are a collection of the last few years' worth of our Quarterly Market Reports so you can follow the Colorado Springs Real Estate Market.
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