December 2019 Colorado Springs Real Estate Statistics
December 2019 for the Pikes Peak PPAR region broke records. There were record sales for December, with 1,247 homes sold, up 17.2% from last December.
We also hit record median and average home prices for a December month at $329,990 and $364,585 respectively.
We have record low inventory numbers with only a 1.04 month supply in the Pikes Peak region– less for homes with a Colorado Springs address. As of January 1st, there are only 1,295 homes for sale.
Full employment and low interest rates makes this a very strong real estate market. With pending sales up 24.1%, the next couple of months look good for closings.
What does the real estate market in December tell us about rental homes? Home prices are at record highs so, more people are having trouble affording new homes. Thus, the PPAR market needs more rental homes. If you have investment property you’d like to rent, call us today at (719) 445-7172 Here are some of the numbers in the PPAR region for December. You can read more by clicking here: https://ppar.com/MarketTrends.aspx
Total Residential Sales: 1,247
This number is up 17.2% from last year. A new December record!
Total Active Listings: 1,302
This is down a whopping 22.7% from December of 2018.
Median Price of Home: $329,990
Still rising, up 9.7% from last year at this time. A new December record as well!
Average Days on Market: 34
Down 15% from last year. One of the statistics you want to be down!
Summary
December 2019 for the Pikes Peak PPAR region broke records. There were record sales for December, with 1,247 homes sold, up 17.2% from last December.
We also hit record median and average home prices for a December month at $329,990 and $364,585 respectively.
We have record low inventory numbers with only a 1.04 month supply in the Pikes Peak region– less for homes with a Colorado Springs address. As of January 1st, there are only 1,295 homes for sale.
Full employment and low interest rates makes this a very strong real estate market. With pending sales up 24.1%, the next couple of months look good for closings.
What does the real estate market in December tell us about rental homes? It’s a great time to have a Colorado Springs investment home, and a great time to rent a home in Colorado Springs! Check out our available rentals at: http://allcountycs.com/available-rentals
Call us today at: (719) 445-7172 for more information about renting out your home in Colorado Springs.
All County® is here for you!
