October 2018 Colorado Springs Real Estate Statistics

The Seller’s Market trend of the past few years is definitely cooling off. Year-over-year homes sales are still dropping. The Days on Market has extended to a bit over a month, 31 days. Although a buyer’s market is emerging, the PPAR market still needs more family-priced residential homes to rent.

If you have a home to rent, are interested in renting out your home, call us today at (719) 445-7172 Here are some of the numbers in the PPAR region for October 2018. You can read more by clicking here: https://ppar.com/MarketTrends.aspx

Total Residential Sales: 1,320

Last Year: 1,431. This is down 7.8%, a large drop.

Total Homes for Sale: 2,375

Last year: 1,937. This is down from last month a bit, bit still up a lot from last year.

Median Price of Home: $305,000

Last year: $280,538. This is up 8.1%.

Average Days on Market: 31

This is about the same as last year, when it was 29. But it is down significantly from the first time we’ve gone over a month since February.

Summary

Home prices are still high, and are selling slower. PPAR is becoming a buyer’s market. However, there are still not enough homes in the PPAR region in the price range most people want to rent.

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!