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colorado-springs-housing-market-august-2021

Even before the start of the Covid-19 pandemic, we've seen a strong seller’s market in Colorado Springs. Sales for newly constructed homes are up, and existing homes are often selling above their asking price. Bidding wars between potential home buyers are common in the hot real estate market, but the August 2021 numbers are indicating the housing market is showing signs of cooling off.

A report from the Pikes Peak Association of Realtors (PPAR) shows the number of available homes for sale are down 6.1% from the previous year. The number of single-family homes are also down, but August 2021 still saw the second number of sales slightly behind July of 2020. The housing market may be slowing slightly and giving more buyers a chance to finally secure…

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July saw another active month in the Colorado Springs real estate market. The COVID-19 pandemic and zombie apocalypse isn't having any real affect on the housing market in Colorado Springs. In fact, it was a bit of a perfect storm! Buyers were able to take advantage of record low interest rates and sellers were able to take advantage of record low inventory.

July-2020-Colorado-Springs-Real-Estate-Market-Update

  • In July, the total number of closed sales was 1825, up 4.1% from 1753 in June.
  • The median sales price in July increased to $365,000. Up 4.3% from $350,000 in June.
  • Average days on the market in July remained unchanged at 17 days.
  • The average list price in July was $416,280, up 0.14% from 415,680 in June.
  • The total number of new listings in July was 1958, up 6.2% from 1844 new…
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Home buyers can expect a triple whammy in 2019 with a continuing tightly competitive market (low supply), higher prices, and an interest rate increase. But all is not lost in the 2019 Colorado Springs real estate market. There are several welcome developments for home buyers and mortgage borrowers. New construction will include more affordable entry-level homes and mortgage lenders are easing the qualification requirements for loans. First time home buyers are getting much-deserved attention now in the real estate market, more so than ever before.

Below, is a list of housing and mortgage trends for 2019.

colorado-springs-real-estate-market-2019

Need More Homes

The lacking supply of homes for the market will continue to lag in 2019, but it’s not expected to worsen. The number of…

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The most recent numbers show another strong quarter for the Colorado Springs housing market.

colorado-springs-real-estate-Q3-2018

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

freddie-mac-average-mortgage-rates-oct2018

Mortgage interest rates also continue to rise. According to Freddie Mac, the average rate for a 30-year…

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If you've ever wanted to live in a place with wide open spaces, gorgeous scenery, and very little humidity, you should consider moving to Colorado. If you want to enjoy city life while being mere steps away from some great hiking spots, like Garden of the Gods, definitely consider Colorado Springs.

Of course, before you jump in with both feet, you should do a little research on the Colorado Springs real estate market. It's important for you to determine if this is the right investment for you. To help you find the information you're looking for, we did the research for you. Keep reading to learn about current home prices in Colorado Springs.

colorado-springs-real-estate-market-statistics

Why You Should Consider Investing in the Colorado Springs Real Estate Market

Before we get into the…

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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

Colorado-Springs-Real-Estate-2018-Q2-Statistics

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…

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