July 2022 Colorado Springs real estate statistics: Increase in inventory has defined our local real estate market over the last year, and it hasn’t slowed down. July’s median home price is 11% higher than last July. There are no signs of a housing market crash in Colorado Springs, but a shift is happening. Even with interest rates rising, housing prices are increasing in the Pikes Peak region. The home inventory is finally enough to meet the demand for single-family homes in Colorado Springs, a relief to buyers.
What does the real estate market in July tell us about rental homes? More rental homes are still needed. 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!
What does the real estate market in July tell us about rental homes? More rental homes are still needed. 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: 2,087
This number is down 4.1% from last year, when it was 2,176.
Total Residential Sales: 1,403
This number is down 23.9% from last year, when it was 1,844.
Total Active Listings: 2,551
This is up an amazing 160% from last year, when it was 981.
Median Price of Home: $495,000
Up 10% from last year, when it was $450,000.
Average Price of Home: $557,250
This is up 11.2% from last year, when it was $501,138.
Note: The median home price is the most common sales price of all the homes sold in July 2022. The average sales price is the combined average of all sold properties for the same period.
Average Days on Market: 14
Homes are taking twice as long to sell then last year, when it took 7 days to sell a home.
Summary
July 2022 Colorado Springs real estate statistics: Increase in inventory has defined our local real estate market over the last year, and it hasn’t slowed down. July’s median home price is 11% higher than last July. There are no signs of a housing market crash in Colorado Springs, but a shift is happening. Even with interest rates rising, housing prices are increasing in the Pikes Peak region. The home inventory is finally enough to meet the demand for single-family homes in Colorado Springs, a relief to buyers.
What does the real estate market in July tell us about rental homes? More rental homes are still needed. 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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