October 2020 real estate statistics: The Colorado Springs real estate market is low on inventory. As of November 1st, there are only 925 homes for sale. There were 55% fewer homes available for sale in October 2020 than in 2019.
Time on market until sold in only days, not weeks. Reports show properties with as many as 17 offers on them. Interest rates are low, inventory is low, demand is strong.
What does the real estate market in October tell us about rental homes? Buyers are having a hard time finding homes with inventory so low, so they need rentals. More rental homes are needed! If you have investment property you’d like to rent out, call us today at (719) 445-7172
Colorado Springs real estate report from All County® Colorado Springs
New Listings: 1,559
This number is up 6.3% from last year.
Total Residential Sales: 1,732
This number is up 19.6% from last year.
Total Active Listings: 881
This is down a whopping 65.6% from last year.
Total Under Contract: 2,642
This is up from October of 2019, when it was 2,113. With only a 2 week supply of homes available for sale (even less when new builds are factored out), it is very competitive for buyers.
Median Price of Home: $383,447
This is up 14.5% from last year, but down a bit from last month.
Average Price of Home: $432,477
Still going up from last year.
Average Days on Market: 21
Down 27.6% from last year, when it was 29. A positive change.
YTD Total Sales: 14,482
Up from last year, when we had 13,625 Year-to-Date total sales.
Summary
October 2020 Colorado Springs real estate statistics: The Colorado Springs real estate market is low on inventory. As of November 1st, there are only 925 homes for sale. There were 55% fewer homes available for sale in October 2020 than in 2019.
Time on market until sold in only days, not weeks. Reports show properties with as many as 17 offers on them. Interest rates are low, inventory is low, demand is strong.
What does the real estate market in October tell us about rental homes? Buyers are having a hard time finding homes, so they need rentals. More rental homes are needed! If you have investment property you’d like to rent out, call us today at (719) 445-7172
All County® is here for you!
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