February 2021 Colorado Springs real estate statistics: Home prices continue climbing, with double-digit gains over last year. This is mainly due to high demand and low supply from the pandemic. The median home price surpassed $400,000, something we’ve never seen before. This price is up 18.2% from February of last year. The average price went up 17.6% to $454,900. Home inventory is staying very low, with 471 homes for sale in the entire Pikes Peak Region.
What does the real estate market in February 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: 1,349
This number is up 7.6% from last year, when it was 1,254.
Total Residential Sales: 981
This number is down slightly at 0.4% from last year, when it was 985.
Total Active Listings: 462
This is down a whopping 57.4% from last year, when it was about double, at 1,085.
Total Under Contract: 2,180
This is about the same as last year, when it was 2,185.
Median Price of Home: $403,000
This is up 18.2% from last year.
Average Price of Home: $454,899
Still going up from last year, when it was $385,749.
Average Days on Market: 20
Down 39.4% from last year, when it was 33. A big change reflecting a seller’s market.
YTD Total Sales: 1952
Up a bit from last year, when we had 1901 Year-to-Date total sales.
Summary
February 2021 Colorado Springs real estate statistics:Home prices continue upward with double-digit gains over last year. This is mainly due to high demand and low supply from the pandemic. The median home price surpassed $400,000, something we’ve never seen before. This price is up 18.2% from February of last year. The average price went up 17.6% to $454,900. Home inventory is staying very low, with 471 homes for sale in the entire Pikes Peak Region.
What does the real estate market in February 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.
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