The Seller’s Market trend of the past few years appears to be cooling off. Year-over-year homes sales are dropping slightly and our typical sales price increases are slowing down. Although the Days on Market remains almost half what it was in February of this year, people are having a harder time finding homes in the average price range. This means that the PPAR market needs more average-priced residential homes to rent.
If you have a home to rent or are interested in renting your home, call us today at (719) 445-7172 Here are some of the numbers in the PPAR region for July 2018. You can read more by clicking here: https://ppar.com/MarketTrends.aspx
Total Residential Sales: 1,592
Last Year: 1,646. This is down 3.3%.
Total Homes for Sale: 2,382
Last year: 2,366. This is up 0.8%.
Median Price of Home: $310,000
Last year: $285,000. This is up 8.1%.
Average Days on Market: 22
This is the same as last year. But it is down significantly from February of this month, when the DOM was 40 days.
Home prices are high. Homes are still selling faster than in the winter months. There are just not enough homes in the PPAR region in the price range most people want.
What does all of this mean? 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!