New data released by the Pikes Peak Association of REALTORS® (PPAR) for September 2018 shows a slowdown the Colorado Springs real estate market. September showed a 15.7% drop in sales, the largest drop since 2007. On the other hand, median sales price increased by 10%. There’s no doubt the market is shifting.
September 2018 Colorado Springs Real Estate Statistics
September 2018 Colorado Springs Real Estate Statistics: The price of a residential home in the Colorado Springs region is $305,000, up about 10% from last year. Since less people can afford a large down payment, less homes (2,040) are on the market, and sell quickly (27 days). This means there is more demand for Colorado Springs rentals!If you think it may be too hard to rent out your home in Colorado Springs, think again! Our property managers are experts, guiding you through the process every step of the way. Call All Seasons today to find out how you can make money by offering your Colorado Springs investment property as a rental. (719) 632-3368
Single Family Home Sales Price
Median for September 2018: $305,000
Median for September 2017: $275,000
Result: The median sales price of a home is still far higher than last year, up $30,000. Since less people who can afford to buy, more people want to rent homes. Rental home availability is very low, so if you have an investment property you would like to rent, or would like to buy a property to use as an investment property, call us today! We’ll help you get your home ready for the rental market, and keep it rented! Many families need these media-priced homes to rent.
Average Days on Market
September 2018: 27 days
September 2017: 26 days
Result: The average Days on Market is about the same as last year, showing the selling pattern for fall is repeating. 27 DOM is still very low. This is good news for real estate investors who own Colorado Springs rental home--because it is harder for potential buyers to put a successful bid on a home, more people will need to rent, meaning your rental property will stay rented!
Year-to-Date (YTD) Total Homes Sold
September 2018: 12,097 homes sold
September 2017: 12,449 homes sold
Result: The number of homes sold Year-to-Date is down 352 homes from last year at this time, about the same.
September 2018 Colorado Springs Real Estate Statistics: The price of a residential home in the Colorado Springs region is $305,000, up about 10% from last year. Since less people can afford a large down payment, less homes (2,040) are on the market, and sell quickly (27 days). This means there is more demand for Colorado Springs rentals!If you think it may be too hard to rent out your home in Colorado Springs, think again! Our property managers are experts, guiding you through the process every step of the way. Call All Seasons today to find out how you can make money by offering your Colorado Springs investment property as a rental. (719) 632-3368
