The Colorado Springs Real Estate Market is HOT…but What Does that Really Mean?

What Does a Hot Real Estate Market Really Mean?

Everyone asks us real estate agents about the market in Colorado Springs. If you’ve been reading our blogs, you’ve probably heard us say this more than a few times: the Colorado Springs real estate market is HOT. But what does that really mean—to us as real estate agents and for you as a homeowner and potential buyers/sellers?

Here are a few Colorado Springs real estate facts from February (ending in 2/28/2018) to give you a better idea:

  • Hottest price range: $180 – $300k
  • Average home sales price: $321k (up from $290k Feb 2017)
  • Average days on the market: 40
  • 35% of home sales: $249k and below
  • 65% of home sales: $250k and above
  • Single Family Homes for sale: 1,228
  • Cash buyers: 15%

If you own a home under $300k in the Pikes Peak region, it’s a good time to move up into the next price bracket.

Your home will likely sell very quickly (potentially with multiple offers and over list price). To give you an idea, one of our recent listings, priced at $280k, had 58 showings and nine offers (alongside love letters and family photos for the seller) all within just two days. The seller landed a great offer over list price and with excellent terms. The best part? That seller is now moving up into the over $300k bracket, which means a calmer market with less competition. If you sell your home in the coming months and jump up to the next price bracket, this can also be you!

If you are thinking about listing your home in 2018 or even want to mull over some questions about real estate and the benefits of selling now, our experienced and trusted team of agents at Woodleaf Realty is always eager to talk. Give us a call today!