Colorado Springs MLS Market Update for June 2018
By Murray & Associates – Keller Williams Colorado Springs
We are seeing normal market trends for summer. For June, active listings are up 13% over May and number of sales is up 2%. Months of inventory remains 1.2 months. Average sales price is up 1.5% and the median sales price is up 2.3%. The number of new home starts is down 17%.
From one year ago, Active listings are the same and sales are down slightly. The average sales price is up 10% and the median sales price is up 12% for Colorado Springs MLS. Months of inventory is stable at 1.2 months.
The market continues to be very competitive for buyers. Homes are frequently under contract within one week of listing if priced below $400,000. Sellers are still advised to price their home right. When priced right they often have multiple offers to choose from and often select the lower risk offer instead of the highest estimated net. See Pricing Your Colorado Springs Home Right in Today’s Market for more information.
New construction permits are up 17% from May and up 10% from one year ago.
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