The most recent numbers show another strong quarter for the Colorado Springs housing market.
Compared to Q3 of 2017, the total number of listings and days on the market remained virtually identical. Homes priced between $300k-$500k along with the $1million+ market gained momentum, but the number of units sold under $300k declined by 26% due to the extreme lack of inventory.
One interesting indicator during this quarterly cycle is the median sales price. Although our local market values have increased another 11% over the same period last year, the current median sales price is down 2% compared to Q2 of 2018.
Keep An Eye On Interest Rates
Mortgage interest rates also continue to rise. According to Freddie Mac, the average rate for a 30-year mortgage is currently 4.86% - up nearly one percentage point since October of 2017.
If you have been sitting on the fence, now is the time to act!
Contact us today to get started!