August 2021 Colorado Springs real estate statistics:
First month since August 2020 that over 1,000 active homes were for sale, only a 16-day supply of homes. Because there aren’t many homes to choose from, buyers are offering over asking price, and bidding wars continue. Homes sold for 2.7% above asking price in August. Double-digit price increases continue, with a median sold price of $450,000, up 18.4% from last year. The average price dropped just below the $500k threshold at $499,278, up 14.5%.
What does the real estate market in August tell us about rental homes? More rental homes are needed for all the folks who cannot buy homes because of the low inventory. If you have investment property you’d like to rent out, call us today at (719) 445-7172 This is the perfect time to rent your home!
New Listings: 1,960
This number is up 16.0% from last year, when it was 1,689.
Total Residential Sales: 1,870
This number is up 5.6% from last year, when it was 1,771.
Total Active Listings: 1,009
This is down 6.3% from last year, when it was 1,077.
Total Under Contract: 2,785
This is 6.3% less than last year, when it was 2,981.
Median Price of Home: $450,000
Up 18.4% from last year, when it was $380,000.
Average Price of Home: $499,278
This is up 14.5% from last year, when it was $435,922.
Note: The median home price is the most common sales price of all the homes sold in August 2021. The average sales price is the combined average of all sold properties for the same period.
Average Days on Market: 9
Homes are selling over twice as fast as last year, when it took 19 days to sell a home. A big change, reflecting a huge seller’s market.
YTD Total Sales: 11,854
Up 8.3% from last year, when we had 10,946 Year-to-Date total sales.
Summary
August 2021 Colorado Springs real estate statistics:
First month since August 2020 that over 1,000 active homes were for sale, only a 16-day supply of homes. Because there aren’t many homes to choose from, buyers are offering over asking price, and bidding wars continue. Homes sold for 2.7% above asking price in August. Double-digit price increases continue, with a median sold price of $450,000, up 18.4% from last year. The average price dropped just below the $500k threshold at $499,278, up 14.5%.
What does the real estate market in August tell us about rental homes? More rental homes are needed for all the folks who cannot buy homes because of the low inventory. If you have investment property you’d like to rent out, call us today at (719) 445-7172 This is the perfect time to rent your home.
All County® is here for you!
Want to know more about the Colorado Springs market?
Colorado Springs has been ranked as the #6 best place to live in the US.
Colorado Springs has the US #1 neighborhood to buy investment property.
Colorado Springs has been listed as the #1 market to watch.
