Today I wanted to provide you with a brief real estate market update for our local market. We're in the middle of the busy season right now, so it's going to be short and sweet.
- Home prices have increased by 9.8% since this time last year
- Inventory in Colorado Springs has decreased by 30% since this time last year, and a lot of homes under $250K are getting multiple offers
- Sellers have been receiving 99.6% of their asking price, which is great if you're looking to sell your home
- Interest rates are extremely low right now, with most rates sitting in the high 3's or low 4's
- There are also many zero down loans available, including the El Paso County Turnkey Program
- It's often more affordable to buy a home than it is to pay rent monthly
With all this being said, it is a very good time to be buying or selling a home right now. Please contact us if you need assistance with your real estate transaction in El Paso County.
We're always willing to help!
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