By Guest on Monday, 16 February 2015
Category: General News

Hot Market in 2014...Can We Do It Again?

Colorado Springs saw a great real estate market last year.  Sales of single family homes rose by 3.8% from the previous year, ending 2014 with 11,197 total homes sold.  The average sales price of a single family home was $251,430, up 2.8% over last year's average price.  Inventory, meaning homes for sale, dropped dramatically as homes continued to sell at a record pace.  As a result, we ended the year with 20% less inventory from a year ago.   Condos and townhomes saw the same kind of gain, with total sales of 1,474 units sold, up 6.6% over last year.  The average sales price of a condo/townhome was $167,893, up 2.3% over last year's average price. Inventory, or units for sale, had dropped by 13% by year's end.   In summary, there are less homes for sale right now.  There are more buyers buying.  As a result, prices are going up and houses are selling faster.   2015 is already paced to outperform last year.  We are seeing a lot of activity early in the year, and we haven't even hit our peak busy season which is usually Spring and Summer.  Bring it on!