The Colorado Springs Housing Market Is

Colorado Springs with Kevin James Bond

If you are considering buying or selling a home in Colorado Springs, it is essential to keep up-to-date with the current state of the real estate market. In this video I discuss the latest statistics and trends for the real estate market in Colorado Springs.
Firstly, let's take a look at the current state of the Colorado Springs housing market. According to the latest data from the Pikes Peak Association of Realtors, the median sales price for homes in Colorado Springs is $441,250, which is down 6.6% the same time last year.
Home prices are on the rise since January, which is largely due to a lack of inventory and high demand for homes in the area.
Additionally, the average number of days that homes are spending on the market has decreased by 44.4% from last year, indicating a strong seller's market. Homes are currently selling at a median of 10 days after being listed, which is incredibly fast and underscores the competitive nature of the Colorado Springs housing market.
Furthermore, there are currently 926 homes on the market in Colorado Springs. We had 12% more inventory in April last year. This lack of inventory is putting upward pressure on prices and making it more difficult for buyers to find the right property.
The Colorado Springs real estate market has been largely unaffected by the COVID-19 pandemic, which has caused other housing markets to struggle. In fact, the pandemic has spurred interest in the area, as people look to move to less densely populated areas with more outdoor recreation opportunities.
The trends in the Colorado Springs housing market are also reflected in the broader real estate market in Colorado. According to data from the Colorado Association of Realtors, the median sales price for homes in Colorado is $551,000, which is down 4.2% from last year. However, the average number of days on the market has increased by 100% (from 28 days to 56 days), and inventory levels have increased by 41.8%.
I am a licensed real estate agent in Colorado. Please contact me if you are looking to buy or sell in the Colorado Springs area!
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🔑 Kevin James Bond - Broker Associate and REALTOR® with RE/MAX Real Estate Group.
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