Colorado Springs MLS Market Update for December 2018
By Murray & Associates – Keller Williams Colorado Springs
Prices dropped slightly in December and inventory remains low at 1.6 months.
For December, active listings are down 28% from November and the number of sales is down 3%. Months of inventory is 1.6 months down from 2.0 months in November. Average sales price and median sales price both dropped slightly. The number of new home starts dropped 317% in December, most likely due to the pending holiday season.
From one year ago, Active listings are up 20% and sales are down 13%. The average sales price and median sales price are both up 5.2% for Colorado Springs MLS. Months of inventory is 1.6 months up from 1.1 months from one year ago. The number of new home starts dropped 173%.
With the slower market buyers are finding that they have more inventory to pick from, but should still act fast when they find the right home. Sellers need to price competitively if they need to sell quickly.
See Pricing Your Colorado Springs Home Right in Today’s Market for more information.
New construction permits are down significantly, 317%, from November at 108 permits issued. This is most likely due to the pending holidays.
Based on information from the Pikes Peak REALTOR® Services Corp. (“RSC”). RSC does not guarantee or is in any way responsible for its accuracy. Data maintained by RSC may not reflect all real estate activity in the market.
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By Nancy Murray
Murray & Associates, Keller Williams Colorado Springs