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%.
Colorado Springs is still in a strong seller’s market. The inventory remains low, but shows improvement for the first time in months. The pandemic, lumber costs, and builder inventory have all put a huge strain on local home inventory.
Colorado Springs has a strong seller’s market right now. June 2021 brought Colorado Springs record breaking home price increases. High demand and lack of supply continue to push up prices. The average price crossed the $500,000 mark for the first time.
Colorado Springs has a strong seller’s market right now. Colorado Springs is in the strongest seller’s market ever. Only 582 homes were up for sale in April 2021, half of the 1,546 homes for sale in April 2020. Covid, cost of lumber, and low builder inventory have bottomed out inventory. Homebuyers are even skipping the home inspection process to get a home under contract.
Again in April, there were record-breaking climbs for home sales prices. High demand and low inventory are still pushing prices up. The median price hit a high of $425,000, up 18.1%. The average price increased 22.8%, to a record high of $481,857. Our low inventory remains at only 568 homes for sale in the entire Pikes Peak Region.
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