Colorado Springs MLS Market Update for January 2020
By Murray & Associates – Keller Williams Colorado Springs
Average sales price increased 8.4% over one year ago and inventory is 1.3 months. The average sales price for the month of December was $375,516.
For January, active listings are down 9% from December and the number of sales are down 36%. Months of inventory is 1.3 month. Average sales price is up 3% at $375,516 and median sales is up 2%. The number of new home starts is up 22%.
From one year ago, Active listings are down 36% and sales are up 1.5%. The average sales price is up 8.4% and median sales prices is up 10%. Months of inventory is down from 1.8 months to 1.3 months. The number of new home starts up 48% from January 2019.
January is typically a slow month because many sellers pull their homes off the market for the holidays. But as we can see from the numbers, there are still buyers in January but fewer available homes so prices increase due to the competition. Sellers that remained on the market sold quicker (down to 1.3 months of inventory) and sold for a higher price over one year ago. So the message for future sellers, remain on the market over the holidays!
See Pricing Your Colorado Springs Home Right in Today’s Market for more information.
New home permits are up from December at 22% and up significantly at 48% from one year ago.