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2018-08-31 15:03:41
July 2018 Housing Stats to help you understand our Sellers market

Here are some Stats for the Colorado Springs / El Paso County, Colorado housing market for July:

There was .35 to .92 month supply of houses for sale in the under $250,000 price point. This is great if you have a property to sell in this price point, but very challenging for the buyers in this price range. We need to talk if you have a home to sell in this price range!!! www.YourColoradoHomeTeam.net
For the $250,000-$300,000 price range it was slightly better coming in at 1 months of inventory. Again better for sellers in this range, but still challenging for buyers. This range just misses the July Median House sale price which was reported as $310,000, but the Median Sale price for the previous 12 months was $295,647. This is the sweet spot, and if you have a home to sell in this price point, we would love to assist you, and may already have buyers, depending on the area, and property characteristics.
We saw 1.9 months of inventory available for the $300,000-$400,000 price range. With the July Average Sale price reported at $ 347,517, and the previous 12 month Average just slightly lower at $ 332,509
2.76 months of inventory for the $400,000-$500,000 price range. So don't worry if your home isn't under contract the 1st day/ week on the market, but if it is stagnating for more than 3 months you may need to re-evaluate your marketing, price, or talk to you agent about any negative feedback received, and how to adjust to off-set that.
3.33 months inventory for the $500,000-$750,000 price range. Down slightly over June. We do have a few buyers looking for very specific properties in this range and the $750,000 to $1,000,000 price range. So if you have a property you are thinking of selling, please reach out to us! www.YourColoradoHomeTeam.net
8.9 months inventory for the $750,000-$1,000,000 price range.
21.29 months of inventory for the $1,000,000-$5,000,000 price point, also down slightly compared to June.

Patience and continued marketing is key in the $750,000+ Housing market, as you can see there are many options for buyers to choose from with 8.9 - 21.29 Months of available inventory. So they tend to be more specific and usually can wait, and are not in situations which force them to have to move quickly. This allows them to be able to wait for their 'perfect' Home!

Compared to July 2017 we are:

Down .03% for the total number of sales.

Down 2.8% in the months of available inventory.

Up 7.5% for the Average Sales Price.

Up 8.8% for the Median Sales Price.

And Foreclosures are down 15.4%.

Which means we are still in a strong Sellers Market. If you are thinking about selling, we would love to be your Realtor.

If you want to search the most current and up to date listings available, please visit www.YourColoradoHomeTeam.net

If you have any questions, please reach out at anytime via our website www.YourColoradoHomeTeam.net, or contact me Pam Gordon the Team lead directly via cell # 719-433-6297

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