The Monument, Colorado real estate market continues to be a strong "Sellers Market" at the beginning of 2018. The median sales price is at a ten year high of $486,751. This is especially impressive when you look back to 2008 when the median price was $375,500. That's a 30% increase, impressive for an area that has consistently been a slow growth market.
The Monument market has always been connected to the Colorado Springs Real Estate market. This is especially the case over the last 10 years as amenities and conveniences have come to the north end of Colorado Springs. This commercial development has really affected the residential market in Monument in a positive way.
Additionally, developers and Builders have started to focus on the Monument Market as well. Two new subdivision, Forest Lakes and Sanctuary Pointe, Are catering to those buyers seeking a location close to both Denver and Colorado Springs. The homes in the subdivisions start above the monument median sales price. So, this is also helping Drive the market.
Here's a look at the last 10-years of "Median List & Median Sales Prices"
| Primary Year | Median Sales Price | Median List Price |
| 2008 | $375,500 | $449,500 |
| 2009 | $358,500 | $399,900 |
| 2010 | $351,433 | $389,900 |
| 2011 | $351,500 | $395,000 |
| 2012 | $365,000 | $399,000 |
| 2013 | $388,500 | $406,000 |
| 2014 | $375,000 | $425,000 |
| 2015 | $413,659 | $449,000 |
| 2016 | $434,000 | $460,000 |
| 2017 | $458,126 | $484,875 |
| 2018 (YTD) | $486,751 | $533,311 |
One of the complaints we hear about our current market is that there is an inventory shortage. Looking at the number of sales from Januar of 2017 to January of 2018 we see a 35% increase in the number of sales. Granted, much of this increase was due to new home sales but given the Median sales price in Monument this confirms what we already had a sense of. The serious inventory shortage is more in the median and lower-priced homes.
Here's a look at the number of homes sold per month in Monument, CO. over the last 5-years.
| Month | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 |
| Jan | 29 | 24 | 35 | 32 | 39 | 53 |
| Feb | 25 | 26 | 33 | 25 | 33 | |
| Mar | 39 | 41 | 45 | 43 | 57 | |
| Apr | 37 | 45 | 61 | 69 | 53 | |
| May | 78 | 60 | 85 | 75 | 73 | |
| Jun | 64 | 89 | 76 | 80 | 102 | |
| Jul | 73 | 73 | 77 | 66 | 76 | |
| Aug | 57 | 49 | 61 | 78 | 85 | |
| Sep | 37 | 45 | 53 | 58 | 66 | |
| Oct | 44 | 44 | 51 | 63 | 59 | |
| Nov | 23 | 34 | 44 | 58 | 59 | |
| Dec | 28 | 38 | 47 | 64 | 60 |
All in all the Monument market is strong, the only concerns we have are around affordability and availability. We will continue to monitor the real estate in Monument, Colorado, so check back here often.
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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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