Due to low inventory and interest rates staying low, now is a great time for both buyers and sellers in the Colorado Springs market.
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Want to buy a home? Search all homes for sale
I get asked a lot about how our market is doing right now.
Currently, I’m telling all my friends and clients that now is a fantastic time to be in the housing market in Colorado Springs. The housing market has slowed from the summer blitz, but only just enough to make it a bit better for buyers. There’s less competition for both buyers and sellers. Fewer buyers are looking than in the summer, so it’s a great time to find the home you wanted without having to compete with multiple offers.
There is a shortage of homes listed under $400,000, which is great news for sellers. With inventory levels being down 33% from 2015, prices have increased an average of 6% area-wide, and much more in other areas. The average days on market is only 35 days, with just over 2,500 homes in all of the Pike’s Peak MLS. There are just over 1,800 single-family homes in the greater Colorado Springs area.
If you’re a seller, get your house on the market.
The great part about this market, whether you’re a buyer or a seller, is that interest rates are still in the mid-3% range. Don’t miss out, because no one knows what will happen after November 8th. If you’re interested in seeing what you will qualify for, I can put you in touch with the best lender in Colorado Springs.
If you have any questions about today’s topic, feel free to reach out to me or my team for a free real estate strategy session. We look forward to hearing from you, and have a great day!
