December 2020 real estate statistics: Inventory broke records yet again, falling to a record low of 532 homes for sale in the entire Pikes Peak Region. This is less than a 1/2-month-supply of homes, just 12 days. Showing that homes are even more scarce is the statistic that less than 250 of the inventory are in the Colorado Springs city limits.
High demand and low interest rates mean that our inventory problem will persist this year. Sellers get multiple offers on their homes quickly. Buyers must enter bidding wars, with few home to choose from.
What does the real estate market in December 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
Colorado Springs real estate report from All County® Colorado Springs
New Listings: 939
This number is up 14.2% from last year, when it was still low at 822.
Total Residential Sales: 1,376
This number is up 10.3% from last year, when it was 1,247.
Total Active Listings: 530
This is down a whopping 59.5% from last year, when it was double, at 1,302.
Total Under Contract: 1,778
This is up from December of 2019, when it was 1,568.
Median Price of Home: $379,999
This is up 15.1% from last year.
Average Price of Home: $437,365
Still going up from last year, when it was $329,990.
Average Days on Market: 20
Down 31.1% from last year, when it was 29. A positive change.
YTD Total Sales: 17,337
Up from last year, when we had 16,060 Year-to-Date total sales. This is now the total for the year.
Summary
December 2020 real estate statistics: Inventory broke records yet again, falling to a record low of 532 homes for sale in the entire Pikes Peak Region. This is less than a 1/2-month-supply of homes, just 12 days. Showing that homes are even more scarce is the statistic that less than 250 of the inventory are in the Colorado Springs city limits.
High demand and low interest rates mean that our inventory problem will persist this year. Sellers get multiple offers on their homes quickly. Buyers must enter bidding wars, with few home to choose from.
What does the real estate market in December 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
All County® is here for you!
Want to know more about the Colorado Springs market?
November 2020 real estate statistics: The lack of inventory in the Colorado Springs housing market broke records this month and fell to only 680 homes for sale in the entire Pikes Peak Region. This equates to 14 days inventory. Continue reading →
October 2020 real estate statistics: The Colorado Springs real estate market is low on inventory. As of November 1st, there are only 925 homes for sale. There were 55% fewer homes available for sale in October 2020 than in 2019. Continue reading →
This year, we’re staying at home for Halloween. Let’s make the best of it! Here are some fun family activities to make this Halloween a holiday you’ll always remember. Continue reading →
Fall is upon us, and it’s time to get your property ready for winter’s assault on your home and landscaping. Here are a few things that we encourage our tenants to do while preparing their property for the Colorado winter. Continue reading →
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. Continue reading →
July 2020 Colorado Springs real estate statistics: Although July 2020 did not show the end of the COVID pandemic, the local PPAR MLS real estate market broke all-time records. Continue reading →
Rental properties are at a premium right now, and they are going fast. So it can be frustrating for anyone looking for an affordable, clean rental in the area of a city where they want to move. And expensive. Prospects can spend $200 to $400 per person just on application fees. It can get frustrating, fast. So here are some keys to renting a home fast.
5 Reasons All County Should Manage your Property: Managing your investment property yourself means a lot of work. From tenant screening to preparing lease documents, you’ll be busy. But don’t let the idea of all this work prevent you from investing in rental property and securing a good course of passive income. Instead, consider hiring a property management company. Here are 5 reasons All County should manage your investment property. Continue reading →