With home inventory low, prices high, and the Days on Market almost half what they were 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 June, 2018. You can read more by clicking here: https://ppar.com/MarketTrends.aspx
Total Residential Sales: 1,737
This number is up 169 from last year. Homes are in demand, and are being bought!
Total Homes for Sale: 2,159
This is up 275 homes from last month! Real estate is hot right now in the Colorado Springs area.
Median Price of Home: $324,750
Still rising, up from $286,250 last year at this time. As home prices rise, the market needs more rental homes.
Average Days on Market: 21
This is about the same as last year, where DoM was 26. But it is down significantly from February of this month, when the DoM was 40 days.
Summary
Home prices are high. Homes are selling a lot 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!
