March 2022 Colorado Springs real estate statistics: Last month set records for Pikes Peak area real estate. 1,361 homes were sold, the most for March, ever. The median and average prices also broke previous records. Average price increased to $539,555. Median price increased to $475,000. For 2022, we’re expecting more homes on the market and a price appreciation to slow. Interest rates will rise this year, decreasing buying power for buyers.
What does the real estate market in March 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!
What does the real estate market in March 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: 1,834
This number is up 13.2% from last year, when it was 1,620.
Total Residential Sales: 1,361
This number is up 1.4% since last year, when it was 1,342.
Total Active Listings: 705
This is up 52.6% from last year, when it was 462.
Total Under Contract: 2,227
This is 7.4% less than last year, when it was 2,404.
Median Price of Home: $475,000
Up 15.9% from last year, when it was $410,000.
Average Price of Home: $539,684
This is up 14.1% from last year, when it was $472,931.
Note: The median home price is the most common sales price of all the homes sold in March 2022. The average sales price is the combined average of all sold properties for the same period.
Average Days on Market: 14
Homes are selling at about the same speed as last year, when it took 13 days to sell a home.
YTD Total Sales: 3,432
Up 4.2% from last year, when we had 3,293 Year-to-Date total sales.
Summary
March 2022 Colorado Springs real estate statistics: Last month set records for Pikes Peak area real estate. 1,361 homes were sold, the most for March, ever. The median and average prices also broke previous records. Average price increased to $539,555. Median price increased to $475,000. For 2022, we’re expecting more homes on the market and a price appreciation to slow. Interest rates will rise this year, decreasing buying power for buyers.
What does the real estate market in March 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.
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