High Demand Fuels Crazy Condo Market In So. Colorado

The local housing market is not letting off any steam, with September home sales surging 9.3% over last year.   But the overheated condo market is even hotter.  With the strong demand for starter homes,  condo sales jumped by 20% year over year in September, and the supply has shrunk by nearly 50%, according to sales reports just released by the Pikes Peak Association of REALTORS.  The average price for a townhome or condo is close to $200,000, a 9.6% increase so far in 2017.  Single family home prices are up 6.3% year over year.