This is the first month in many months that we have seen a decrease in the amount of homes sold and an increase in the amount of homes listed, in comparison to the previous year.
Let's take a look at the February 2017 real estate market numbers for Colorado Springs:
February 2017 Colorado Springs Real Estate Statistics
New Listings: 1,273 (Up +1.1% from last year)
Sold Listings: 800 (Down -8.1% from last year)
Total Active Listings: 1,342 (Down -23.9% from last year)
Median Sales Price: $255,000 (Up +5.9% from last year)
Total Under Contract: 2,254 (Up+1.1% from last year)
List To Sold Price Ratio: 99.5% (Up+0.6% from last year)
Days on the Market: 41 Days (Down 31.7% from last year)
The Colorado Springs Real Estate Market is Headed for Another Crazy Year!
Homebuyer demand is still at an all-time high in Colorado Springs, while the supply is at an all-time low. This is creating many multiple offer situations and tough markets for buyers in the low price ranges where there is less inventory. We're on track for another record year like last year. A potential rise in interest rates is really the main deciding factor on our housing market this year.