July 2021 Colorado Springs real estate statistics:

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.

What does the real estate market in July 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: 2,176

This number is up 10.5% from last year, when it was 1,969.

Total Residential Sales: 1,844

This number is down 6.8% from last year, when it was 1,978.

Total Active Listings: 981

This is down 29.4% from last year, when it was 1,390.

Total Under Contract: 2,785

This is less than last year, when it was 2,981.

Average Price of Home: $501,138

This is up 17.2% from last year, when it was $427,593.

Median Price of Home: $450,000

Still going up from last year, when it was $377,000.

Average Days on Market: 7

Homes are selling almost 3 times as fast as fast as last year, when it took 20 days to sell a home. A big change, reflecting a huge seller’s market.

YTD Total Sales: 9,989

Up a lot from last year, when we had 9,177 Year-to-Date total sales.

Summary

July 2021 Colorado Springs real estate statistics:

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.

What does the real estate market in July 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.

Colorado Springs has been listed as the #1 market to watch.