You can tell Fall is around the corner. Kids are back to school. The nights are cooler now. The morning sun rises a little later. Soon leaves will turn their brilliant shades of gold and yellow. What does this change of season mean for the housing market? Well, historically Fall means a slower pace for home sales. When families are focused on school and holidays and cooler weather, home sales usually diminish.
However, with 2015 being a record year for housing, it will be interesting to see just how quiet the Fall season is this year. Here is a snapshot of what we saw through the end of August in the Pikes Peak area housing market:
*Home Sales January to August UP 20% from last year
*Average Sales Price of a home UP 7% from last year
*Condo/Townhome Sales January to August UP 35% from last year
*Average Sales Price of a condo/townhome UP 3% from last year
*Total Homes for Sale (inventory) DOWN 17% from last year
*Total Condos/Townhomes for sale DOWN 26% from last year