May 2021 Colorado Springs real estate statistics:
Colorado Springs has a strong seller’s market right now. Colorado Springs is in the strongest seller’s market ever. Only 582 homes were up for sale in April 2021, half of the 1,546 homes for sale in April 2020. Covid, cost of lumber, and low builder inventory have bottomed out inventory. Homebuyers are even skipping the home inspection process to get a home under contract.
What does the real estate market in May 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: 1,876
This number is down 3.6% from last year, when it was 1,947.
Total Residential Sales: 1,553
This number is up 37.2% from last year, when it was 1,132.
Total Active Listings: 582
This is down a whopping 62.4% from last year, when it was about double, at 1,546.
Total Under Contract: 2,790
This is about the same as last year, when it was 2,760.
Average Price of Home: $481,857
This is up 24.4% from last year.
Median Price of Home: $432,095
Still going up from last year, when it was $350,000.
Average Days on Market: 10
Homes are selling twice as fast as last year, or 52.4%, when it was 21. A huge change, reflecting a huge seller’s market.
YTD Total Sales: 6,333
Up a bit from last year, when we had 5,518 Year-to-Date total sales.
Summary
May 2021 Colorado Springs real estate statistics:
Colorado Springs has a strong seller’s market right now. Colorado Springs is in the strongest seller’s market ever. Only 582 homes were up for sale in April 2021, half of the 1,546 homes for sale in April 2020. Covid, cost of lumber, and low builder inventory have bottomed out inventory. Homebuyers are even skipping the home inspection process to get a home under contract.
What does the real estate market in May 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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Want to know more about the Colorado Springs market?
Colorado Springs has been ranked as the #4 best place to live in the US.
Colorado Springs has the US #1 neighborhood to buy investment property.
Colorado Springs has been listed as the #1 market to watch.
