August 2020 Colorado Springs real estate statistics: August 2020 didn’t beat July’s record sales, but came close. For the 2nd time, we had all-time high record sales of 1,771 homes, up 14.9% from last year. August set a record average home price of $435,922 (up 17.3% from last year), and record median price of $380,000 (up 15.2% from last year). The inventory of unsold homes (only 1,095 homes, down 50.1% from last year) is only a 19-day supply, the lowest level ever.
Colorado Springs has been listed as the #1 market to watch.
Colorado Springs has been ranked as the #2 best place to live in the US.
Colorado Springs has the US #1 neighborhood to buy investment property.
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What does the real estate market in August tell us about rental homes? There are not enough homes on the market, and home prices are still rising. More rental homes are needed! If you have investment property you’d like to rent out, call us today at (719) 445-7172
New Listings: 1,689
This number is down 8.3% from last year.
Total Residential Sales: 1,771
This number is up 14.9% from last year.
Total Active Listings: 1,077
This is down a whopping 50.9% from August of 2019, a new record. Not enough homes are being listed.
Total Home Inventory: 1,079
This is down a lot from from August of 2019, when it was 2,194.
Median Price of Home: $380,000
Still rising. Home prices are going up at a record rate. This is up 15.2% from last year.
Average Price of Home: $435,922
Average price up 17.3%, a new record.
Average Days on Market: 19
Down 13.6% from last year, when it was 22. Not a big change, but a positive one.
YTD Total Sales: 10,946
Up from last year, when we had 10,785 Year-to-Date total sales.
Summary
August 2020 Colorado Springs real estate statistics: August 2020 didn’t beat July’s record sales, but came close. For the 2nd time, we had all-time high record sales of 1,771 homes, up 14.9% from last year. August set a record average home price of $435,922 (up 17.3% from last year), and record median price of $380,000 (up 15.2% from last year). The inventory of unsold homes (only 1,095 homes, down 50.1% from last year) is only a 19-day supply, the lowest level ever.
Statistics show the local market has record high prices with a few homes for sale, conditions that make the demand for rental properties increase. If you need help managing your investment property, call All County® Colorado Springs today.
All County® is here for you!
