Local market statistics released by the Pikes Peak Association of REALTORS® (PPAR) for February 2020.
February 2020 Colorado Springs PPAR Real Estate Statistics: Another record was broken for the median sales price in February for the Colorado Springs PPAR. The median was $341,000, up almost $30,000 from February 2019. The inventory of homes for sale is still at record lows, with only 1,190 active listings. With full employment and low interest rates, we have a strong seller’s market.
Because of these market conditions, rental homes are more in demand than ever in the PPAR MLS. Call All Seasons today to find out the steps you need to take to offer your Colorado Springs investment property as a rental. With All Seasons, it’s not as hard as you may think! (719) 632-3368
Single Family Home Sales Price
Median for February 2020: $341,000
Median for February 2019: $315,000
Result: Up 8.3% percent from last year, almost $30,000, a huge increase. Home values still rising fast in our community. Good news if you already own a home, but the increasing prices make it harder for prospective buyers to afford home prices.
Average Days on Market
February 2020: 33 days
February 2019: 43 days
Result: The days needed to sell your home in February down 23.2% from last year, still a significant drop. Homes are selling 10 days faster than last year.
Year-to-Date (YTD) Total Homes Sold
February 2020: 1901 homes sold
February 2019: 1824 homes sold
Result: YTD total homes sold is almost 100 more homes than last year.
February 2020 Colorado Springs PPAR Real Estate Statistics: Another record was broken for the median sales price in February for the Colorado Springs PPAR. The median was $341,000, up almost $30,000 from February 2019! The inventory of homes for sale is still at record lows, with only 1,190 active listings. With full employment and low interest rates, we have a strong seller’s market.
Rental homes are more in demand than ever in the PPAR MLS. Our market is surpassed by the lack of available homes for sale. With inventory so low and demand still high, we're going to see record sales prices this year, making it even harder for the average person to buy a new home. Call All Seasons today to find out the steps you need to take to offer your Colorado Springs investment property as a rental. With All Seasons, it’s not as hard as you may think! (719) 632-3368
