With home prices skyrocketing in the Colorado Springs metro area, more people are having trouble affording to buy a new home. The PPAR market needs an influx of homes to rent.
If you have investment property you’d like to rent, call us today at (719) 445-7172 Here are some of the numbers in the PPAR region for June. You can read more by clicking here: https://ppar.com/MarketTrends.aspx
Total Residential Sales: 1,651
This number is down 4.9% from last year, reflecting rising home prices.
Total Active Listings: 2,123
This is down 1.7% from June of 2018.
Median Price of Home: $331,000
Still rising, up 16% from last year at this time, when it was $285,250. As home prices rise, the market needs more rental homes.
Average Days on Market: 24
This number usually goes down during the summer. Last year it was 21, showing DoM is up 14.3% this year
Home prices are rising fast. There are just not enough homes in the price range most people want in the PPAR region.
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: https://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!