Low Inventory Continues to Impact Colorado Springs Housing Market

By
Real Estate Agent with Falcon Property Solutions

Market Report February 2020

The Colorado Springs real estate market continues to break records and be impacted by low inventory. At the end of February 2020, there were only 830 existing single-family homes available. (The numbers used do not reflect Condominiums or Townhomes, nor do they include homes that are currently being built.)

In just one month, the average sales price jumped a whopping five percent, from $360,027 in January 2020 to $377,952 this past month. There was a slight increase in the past month in the number of new listings, going from 1,063 in January to 1,081 in February.

In that same one-month period between January and February 2020, the number of active, available homes on the market went from 865 to 830, a drop of four percent. Those numbers are reflective, in part, to more than an eight percent rise in sales between January and February of this year from 775 to 840 homes sold.

Last Year Compared to This Year

The following is a snapshot of what is happening with existing single-family homes in Colorado Springs compared to the same month last year

If you're even considering buying a home, now is the time before prices go up during the spring and summer months. Interest rates continue at an all-time low, allowing you to purchase more home for the dollar, but rising prices may negate that gain. Unfortunately, this often means there are multiple offers for the same property, so make sure you're using an experienced Realtor who knows how to negotiate on your behalf.

There is a robust demand for homes, so if you're even thinking of selling, now is the time to get your house on the market before the influx of new listings during the warmer months. As of February 2020, the average home in Colorado Springs sold for full asking price (if it was well priced when it went on the market)!

Ask us for your FREE NEE report (Net Equity Estimate) to find out how much money you might net from the sale of your home.

Originally posted as Colorado Springs Real Estate Market Trends for February 2020 by Mimi Foster

Posted by

Selling homes throughout Colorado Springs, Old Colorado City, Manitou Springs, and surrounding areas

 

     

Mimi Foster

(719) 460-7570

CALL OR TEXT

Mimi has received the honor of being voted one of the best Realtors in Colorado Springs five years in a row. With over two decades of experience, she is committed to making the home buying/selling process as painless and enjoyable as possible. Read Full Bio…

CoSpringsRealEstateNews.com

If not completely satisfied, cancel
and get double your money back.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
Colorado El Paso County Colorado Springs
Groups:
Posts to Localism
Local Expert
HyperLocal Neighborhood and Community Posts
Tags:
market report

Spam prevention
Show All Comments
Rainmaker
2,675,920
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Colorado Springs home buyers and sellers will appreciate your market report, Mimi!

Mar 08, 2020 03:37 PM #1
Rainmaker
5,669,989
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Families on the move will certainly appreciate your local real estate reports.

Mar 09, 2020 05:21 AM #2
Rainmaker
3,362,705
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Looks a lot like the Charlotte market to me, Mimi... we are both a seller's market for sure. Great infographic.

Mar 09, 2020 05:44 AM #3
Rainmaker
2,139,541
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Mimi Foster - Your panoramic view of Colorado Springs is absolutely stunning!

We had low inventory and multiple offers for a long time. It has passed and there is plenty of inventory now. Eventually, the market corrects. I wish you the best. 

Mar 09, 2020 02:34 PM #4
Rainmaker
3,341,602
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Mimi,  Great market report to share with us here in The Rain.  Make it a great day!

 

Mar 12, 2020 10:44 AM #5
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Ambassador
862,880

Mimi Foster

Voted Colorado Springs Best Realtor
Have a question about Colorado Springs real estate?
*
*
*
*
Spam prevention

Additional Information