Three Years of Market Report Comparisons
While New Listings were up twenty-two percent between July 2019 and July 2021, Active Listings were down fifty-two percent. This housing market report is indicative of robust sales far surpassing the number of new listings coming on the market.
The number of Sold listings was highest during Covid July. The Sold housing market was twenty percent higher than 2019 and four percent higher than 2021. On the other hand, 2021 had the highest year-to-date sales being twelve percent higher than 2020.
Houses sold, on average, about four-and-a-half percent higher than list price, up about four percent from the last two years. The average days a home was on the market was a record-low six days in July of this year, down over seventy percent from 2019.
All of these numbers combined leave the Colorado Springs real estate inventory at less than fifteen days! That means if nothing else were to come on the market, all homes in El Paso County would be sold within two weeks. Unbelievable!
The most shocking statistic to me is the Average Sales Price of a home is up eighteen percent over last year, and thirty-five percent since 2019. In this rapidly moving housing market, owners are acquiring good equity in their property at faster rates than normal.
This is a snapshot of what’s happening with existing single family homes in El Paso County compared to the same month the past two years.
Housing Market June 2021 to July 2021
New Listings were up three-and-a-half percent between June and July of 2021, but the Average Sales Price increased only negligibly. In the housing market the month between June and July 2021, the number of Active Listings was up about twenty-six percent.
Sales were up two percent, and the Months Supply of inventory increased twenty-five percent from June to July. Good news for Buyers, but not a detriment to Sellers.
Housing Market Predictions Colorado Springs
There should be a little slowing of the market over the next few months as the natural real estate sales cycle slows slightly after Labor Day and into the fall months, but it will still be a hot market. I don’t see much of a change in pricing, but I expect houses to be available a little longer than they have been.
That’s great news for Buyers as the competition doesn’t seem to be as keen as in previous months. If you would like to know how your personal situation might fare in this healthy real estate climate, be sure to contact one of Colorado Springs’ most experienced agents. I’ll be able to tell you what you might expect to NET from the sale of your home, or help you qualify to purchase your dream home. Call or text me today for your personal evaluation.