Checking in on the Colorado Springs Market

Colorado Springs Area Real Estate Podcast with Tiffany Lachnidt

I wanted to provide an update on the Colorado Springs real estate market. We've had a great year so far, and fall is shaping up to be a healthy, balanced market once again.

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I wanted to stop by today with a quick update on the Colorado Springs real estate market for September 2016.

We've had a great year so far and fall is shaping up to be the same. I do think we're going to continue to see strong conditions in and around Colorado Springs for the foreseeable future. There are some whispers of a shift coming; I say the fastest way to create a shift is to talk about a shift, but we're not seeing any increase in inventory right now and we're not seeing values dropping.

We've actually had a pretty stable increase in values for the last couple of years, so I think that if we do see any correction, it's going to be fairly minor, and I don't think it's coming in the near future.

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We've had a great year so far and fall is shaping up to be the same.

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Coming into September, our average sales price is $295,000, which is up 8% from 2015. We currently have 2,655 active listings at the beginning of the month, which is actually down 4% from August, and is down a whopping 21% from 2015. As I said, we do have a shortage of available inventory.

In Colorado Springs we sold 1,465 homes in August, which is down 2% from July, but is up 5% from 2015. Our average days on market is only running 28, which is down 61% from 2015, so we have strong selling conditions. I think fall is one of the best times we have to list because we see homes coming off the market from our less motivated sellers who feel like they may have missed the market. I emphatically disagree with that, because buyers don't believe in that.
If you're looking at buying, this is a great time to jump in because we're not seeing quite the multiple offer situations that we were before. All in all, we're getting back to more of a healthy, stable market than what we had the past couple months.

If you have any questions or you're wondering what your home is worth, give us a call or send us an email. We'd be happy to help you out.