September 2020 Colorado Springs real estate statistics: Big home sales—up 29.4%—with 1,804 homes sold. Median price hit a new all time record of $385,000—up 18.3% from last year. The biggest news is that we have a new record low inventory of homes for sale. As of October 1, 2020, only 992 homes remain for sale, down 52.5% from last year, a huge jump. This equates to about a 2 weeks supply of homes. This extremely low inventory mean buyer competition is high.
What does the real estate market in September 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
Colorado Springs real estate report from All County® Colorado Springs
New Listings: 1,665
This number is up 17.2% from last year.
Total Residential Sales: 1,804
This number is up 29.4% from last year.
Total Active Listings: 1,062
This is down a whopping 49.1% from September of 2019, a new record. Not enough homes are being listed.
Total Under Contract: 2,854
This is up from September of 2019, when it was 2,227.
Median Price of Home: $385,000
Still rising. Home prices are going up at a record rate. This is up 18.3% from last year.
Average Price of Home: $431,293
Average price down 17%.
Average Days on Market: 21
Down 19.2% from last year, when it was 26. Not a big change, but a positive one.
YTD Total Sales: 12,750
Up from last year, when we had 12,177 Year-to-Date total sales.
Summary
September 2020 Colorado Springs real estate statistics: September 2020 Colorado Springs real estate statistics: Big home sales—up 29.4%—with 1,804 homes sold. Median price hit a new all time record of $385,000—up 18.3% from last year. The biggest news is that we have a new record low inventory of homes for sale. As of October 1, 2020, only 992 homes remain for sale, down 52.5% from last year, a huge jump. This equates to about a 2 weeks supply of homes. This extremely low inventory mean buyer competition is high.
What does the real estate market in September 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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