COVID-19 stay-at-home orders are easing now, and people are getting back to work. The effects of the stay-at-home restrictions are reflected in the number of houses listed on the market, and how fast the homes that were already on the market sold. The real estate market does not seem to have been greatly changed.
Because of the current 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
May 2020 Colorado Springs Real Estate Statistics
Single Family Home Sales Price
Median for May 2020: $350,000
Median for May 2019: $329,250
Result: Up 6.3% percent from last year. 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.
Total Active Listings
May 2020: 1,546 homes
May 2019: 1,849 homes
Result: This moved 16.4% down from last year, reflecting the slowdown due to stay-at-home orders.
Average Days on Market
May 2020: 21 days
May 2019: 25 days
Result: The days needed to sell your home in April are down 16% from last year. This means it takes less time for sellers to sell their home, and buyers must get their bids in fast. This could be because people bought up the inventory when the stay-at-home orders came out.
Year-to-Date (YTD) Total Homes Sold
May 2020: 5,518 homes sold
May 2019: 5,932 homes sold
Result: Down 7%. YTD total homes sold is down from last year.
Total Under Contract
May 2020: 2,760 homes
May 2019: 2,633 homes
Result: Up 4.8%. Good news.
New Listings
May 2020: 1,947 homes
May 2019: 2,114 homes
Result: Down 27.6%, for the same reason the Total Under Contract dropped—real estate agents staying at home.
Sold Listings
May 2020: 1,132 homes
May 2019: 1,564 homes
Result: This number is down 7.9%.
COVID-19 stay-at-home orders are easing now, and people are getting back to work. The effects of the stay-at-home restrictions are reflected in the number of houses listed on the market, and how fast the homes that were already on the market sold. The real estate market does not seem to have been greatly changed.
Because of the current 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
