2018 Q2 Colorado Springs Real Estate Statistics

The strong sellers' market continues in Colorado Springs but home buyers are starting to see more relief compared to the first quarter of 2018. Mortgage rates are a key factor to the slight cool off, having gained 60 basis points (.6%) since the start of 2018 but they have also remained relatively flat for the past 5 weeks.

Colorado Springs Real Estate Market Update

Overall listings in Q2 were still nearly 6% lower than the total count from a year ago, but compared to the 14% deficit we saw in the first quarter of 2018, the "white hot" market could now be described as a "red hot" market.

Appreciation continues to be good to home sellers. The median sales price for residential property in El Paso County is now $303,000, up nearly $20,000 since Q1 of 2018.

Higher priced homes are also continuing to gain traction compared to last year, especially those priced between $500k and $1M. 

Historic active listings by the month of June

Although July is typically the month that provides us with the most inventory, we are still seeing a shortage of active listings. In June of 2018, the market added 2398 new listings compared to the 5962 listings added during the same month in 2014.

Year at a glance for mortgage interest rates

The uptick with higher mortgage rates since January, 2018 has softened the red-hot sellers market  just a tad, but rates receded in the last week of June and have remained flat for the past 5 weeks, allowing buyers to get off the fence and into home ownership this summer.