Colorado Springs MLS Market Update for November 2018

By Murray & Associates – Keller Williams Colorado Springs

Colorado Springs Homes Sales

Prices are still not dropping, inventory is still low at 2 months, and concessions are not increasing, all signs of a shifting market towards a buyer’s market.

For November, active listings are down 10% from October and the number of sales is down 20%. Months of inventory is 2 months up from 1.8 months in October. Average sales price and median sales price both dropped slightly. The number of new home starts is up 9%.

From one year ago, Active listings are up 23%  and sales are down 14%.  The average sales price and median sales price are both up 8%  for Colorado Springs MLS. Months of inventory is 2 months up from 1.3 months one year ago.

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 up 9% from October and unchanged from one year ago.

Nov 18 COS New Home Starts

 

Nov 18 COS Months of Inventory

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.

Visit Colorado Springs Real Estate Market Update for the latest news in Real Estate.

Academy School District 20 Real Estate Market Report

To find out what your home is worth, request a complimentary market analysis for your Colorado Springs home.

By Nancy Murray

Murray & Associates, Keller Williams Colorado Springs

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