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.
- Monthly sales—1,978 sales. Up 19% from 2019, and up 13.5% over the previous record.
- Average home price—$427,593. Up 14.8% from 2019, and up 6.4% from June.
- Median home price—$377,000. Up 13.6% from 2019 and up 4.7% from June.
- Total Home Inventory—1,500 homes. Down 31.8% from 2019. Only a 3 week supply, the lowest ever.
Statistics show the local market has record high prices with a few homes for sale, conditions that make the demand for rental properties increase.
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What does the real estate market in July tell us about rental homes? There are not enough homes on the market, and home prices are still rising. More rental homes are needed! If you have investment property you’d like to rent out, call us today at (719) 445-7172
New Listings: 1,969
This number is up 6.3% from last year. A good sign.
Total Residential Sales: 1,978
This number is up 19% from last year. Pretty good, considering how low the inventory of home is.
Total Active Listings: 1,390
This is down a whopping 36.8% from July of 2019, a new record. Not enough homes are being listed.
Median Price of Home: $377,000
Still rising. Home prices are going up at a record rate. This is up 13.6% from last year.
Average Days on Market: 20
Down 13% from last year, when it was 23. Not a big change, but a positive one.
Summary
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:
- Monthly sales—1,978 sales. Up 19% from 2019, and up 13.5% over the previous record.
- Average home price—$427,593. Up 14.8% from 2019, and up 6.4% from June.
- Median home price—$377,000. Up 13.6% from 2019 and up 4.7% from June.
- Total Home Inventory—1,500 homes. Down 31.8% from 2019. Only a 3 week supply, the lowest ever.
Statistics show the local market has record high prices with a few homes for sale, conditions that make the demand for rental properties increase.
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