Office: 719-635-SOLD (7-6-5-3)
Southern Colorado Housing Market

Peak Dream

Downtown Colorado Springs

Peak Dream Logo

Southern Colorado Housing Market

As the leaves fall, Home Prices Keep Rising in Southern Colorado

by

Colorado Springs Market Stats Fall 2017

Colorado Springs Market Stats  for single family homes (Fall 2017)

This fall season may be a great time to sell your home at top dollar. Throughout southern Colorado, there’s a new surge of home buying activity as 2017 sets new records for home sales. The PeakDream agents are as busy now as we were in the summer. A large percentage of the activity is with buyers under the age of 35, who are moving here from all over the country with well-paying jobs.

The Pikes Peak Association of REALTORS reports the average home price is just shy of $320,000 – almost $25,000 higher than last year (see PPAR market trends). The median sale price increased just as much, from $255,625 to $280,538. Local single family home sales totaled 1,431 in October, a 13% increase over 2016, outpacing the number sold in June of 2015, which was also a record year.

There are 1,938 homes available for sale and over 1,700 pending sales. We have a 1.4 month supply, according to the PPAR, meaning that in many neighborhoods, most homes are selling in a few weeks. As we’ve indicated for the past few years, buyers need to be ready to move quickly on an attractive home when it hits the market, and be prepared to pay full list price, or more.

The condo and townhome market is off the charts, a trend we’ve been following all year, mostly due to the lack of starter homes at affordable prices.

And the market momentum is pushing further south into Pueblo and Fremont Counties, where home prices are comparatively lower but have also been rising fast. You can find Canon City homes and Pueblo homes for sale on our website search tool, where we feature listings throughout southern Colorado.

 

You might like these articles too:

http://www.peakdream.com/2017/10/changes-in-downtown-colorado-springs-bring-new-opportunities-and-energy/

Colorado Springs Housing Market is 6th Hottest In US

by

Southern Colorado’s housing market is firecracker hot this summer, even as home prices continue to rise at a much faster pace then the rest of the country. The average home price in El Paso County now tops $326,000, a 10.6% jump from average price last June.  The National Association of REALTORS (NAR) reports the Springs leads the Rocky Mountain area for home sales, hitting the 6th spot for Hottest Housing Market, above Denver. A record 1,743 homes sold in Colorado Springs in June, up 5.6% from last June.  Home buyers had more properties to choose from, as rose 16.8% from May.  But homes in the most affordable price ranges are still selling within days, not weeks, and above asking price.  The average home is on the market 24 days, with the average in some areas as low as 7 days.  June 2017 Sales Charts

The inventory crunch is across the U.S.  NAR says this is the first time that 1 in 3 homes is selling in under 30 days nationally.  The demand for affordable homes is building among first-time home buyers and baby boomers.  NAR economist Javier Vivas says millions of older and younger Americans are snapping up starter homes and urban dwellings like never before.

Denver’s lack of affordable homes has been pushing metro-area home buyers south to Colorado Springs for years, but the city’s job growth and surging economy are also bringing new residents here in droves.  A majority of the 12,000 + available job openings are for high-paying positions in nursing, software engineering and systems engineering, with a median salary of over $67,000.

Peak Dream Rocky Mountain Realtors Downtown Colorado Springs
724 S Tejon St, Ste C, Colorado Springs, CO 80903

232 E Main St Florence, CO 81226
(719) 431-6903

417 Main Street, Cañon City, CO 81212
(719) 431-6903

Fair housing logo
Skip to content