April 2020 Colorado Springs real estate statistics: The results from the COVID-19 restrictions are starting to affect the local real estate results. The number of new listing is down 24% and sold listings is down 7.7%, showing the agents could not work at full capacity. The Days on Market is down a whopping 35.5% because people snatched up homes while they still could, fearing what might happen in the market.

What does the real estate market in April tell us about rental homes? There are not enough homes on the market, homes are still priced high, and there is record unemployment. More rental homes are needed!

If you have investment property you’d like to rent out, call us today at (719) 445-7172 Here are some of the numbers in the PPAR region for April. You can read more by clicking here: https://ppar.com/MarketTrends.aspx. See last month’s statistics by clicking here.

New Listings: 1,458

This number is down 24.2% from last year, showing that real estate agents could not get out there listing homes.

Total Residential Sales: 1,219

This number is down 7.7% from last year. Again, this shows that real estate agents were restricted in their selling activities.

Total Active Listings: 1,589

This is up 1.1% from April of 2020. Not enough homes are being listed.

Median Price of Home: $360,000

Still rising. Home prices are going up at a record rate.

Average Days on Market: 20

Down 35.5% from last year, showing that homes were snatched up before COVID-19 restrictions kicked in.

Summary

April 2020 Colorado Springs real estate statistics: The results from the COVID-19 restrictions are starting to affect the local real estate results. The number of new listing is down 24% and sold listings is down 7.7%, showing the agents could not work at full capacity. The Days on Market is down a whopping 35.5% because people snatched up homes while they still could, fearing what might happen in the market.

What does the real estate market in April tell us about rental homes? There are not enough homes on the market, homes are still priced high, and there is record unemployment. More rental homes are needed!

Call us today at: (719) 445-7172 for more information about renting out your home in Colorado Springs.

All County® is here for you!