This year the Colorado Springs housing market started off a bit slow. From January to mid March we Realtors were all scratching our heads wondering where all the buyers were and why houses were taking longer to sell. At at some dark point, which no one cares to admit, we even began to wonder "is it me? is there something more I could be doing?"
But around mid March things changed back to normal. Buyers came out to buy, and houses began to sell at their usual pace. Springtime sales gradually heated up transitioning into a typical, busy and productive Summer.
Here is how our Colorado Springs housing market fared, through the 3rd quarter of this year:
- Single Family Home Sales Up 1.2% over last year
- Average Sales Price of a Single Family Home Up 2.6% over last year; to $250,928
- Total Homes for Sale (active listings) Down 5.9% from last year
- Condo/Townhome Sales Up 5.2% over last year
- Average Sales Price of a Condo/Townhome Up 1.5% over last year; to $168,948
- Total Condos/Townhomes for Sale (active listings) Down 11.2% from last year
To summarize: Home sales have increased slightly over last year. Home prices have increased slightly. There is less inventory for sale now than there was last year at this time. And although we started off the year a bit slow, we have made a nice recovery. Whew! Nice to know we're still on track!