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Hector Hernandez

Hector Hernandez
Owner/Broker

Inside Edge Real Estate Inc.
Colorado Springs, CO 80918

719-599-8134
Contact Me

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Colorado Springs Home Sales Stats

March 2019 HOUSING STATISTICS

Summary: March

New listings were down from 1,558 to 1,288 which is a 17% decrease from 2018. This resulted in a 2.8% decrease in home sales from 1,109 in 2018 vs 1078 in 2019. The Average Sales price is $350,934 which is a huge jump from $340,594 in 2018. The Medium Sales price is $315,000 vs $300,000 in 2018 which is a 3% increase. The Year to Date (YTD) unit sales through March 2019 is 3,048 which is down from 2018’s 3,114, but still up from 2017’s 2,955. The average days on market is 36 days compared to 28 days in 2018. The total homes under contract in March were 2,139 which is down from 2,278 in 2018. In fact, this is the 4th consecutive year we have seen this downward trend in the month of March.

We experienced a price reduction in list price across the board for the first time in several years with one price category seeing as much as 19.5% of its listed homes’ prices drop. Home sold in March sold for 99.8% of list price, compared to 100.2% in 2018.

What do these numbers tell us? It’s really hard to say. However, it’s important to point out that since March 2018 we have seen a decrease in unit sales every month with June 2018 being the only exception vs prior year. September 2018 alone saw a decrease of 236 units sold vs LY numbers. In fact, year 2018 marked the first time in 9 years that we had fewer units sold vs LY.

Does this mean this is the beginning of a bear market, or just a peek at a much-needed correction? It’s too early to guess, but it’s hard to ignore statistic facts. For example, year 2006 marked the beginning of a four-year downward trend, which was followed by seven consecutive upward years. Only time will tell us if we are beginning another downward cycle, but you can bet we will keep an eye on it for you.  

Contact me at 719-599-8134 ext 5 for more information including a micro analysis of your situation. 

Sales Activity El Paso County

  March 2018 March 2019 +/-
Number of Homes Sold 1160 1139 -   1.8%
New Listings 1643 1348 - 18.0%
Medium Sales Price $299,598 $312,946 +  4.5%
Average Sales Price $336,692 $346,882 +  3.0%
Average Days on Market 27 36 +33.3%
Percent (%) of Sold Price vs List Price 100.2% 99.8% -   0.4%

Market Update for March

Single Family-Patio 2018 2019 +/-
New Listings 1643 1348 - 18.0%
Sold Listings 1160 1139 -   1.8%
Inventory Homes for Sale 1552 1416 -   8.8%
Months Supply of Inventory 1.2 1.2     0.0%
Townhouse-Condo 2018 2019 +/-
New Listings 265 191 -  27.9%
Sold Listings 165 155 -    6.1%
Inventory Homes for Sale 157 130 -   17.2%
Months Supply of Inventory .08 0.7 -   12.5%

Homes Sold By Price Range

vs Previous Month

Up to $199,999 39 +  4  
$200,000 - $299,000 415 +  88
$300,000 - $399,000 364 +  87
$400,000 - $499,000 142 +  33
$500,000 - $599,000 67 +  16
$600,000 - $799,000 41 +  19
$800,000 - $999,000 7 -     2
$1,000,000 - $1,999,000 3 -     3
Over $2,000,000 0 Flat

Homes Sold by Price Range

"Based on information from the Pikes Peak REALTOR® Services Corp. ("RSC"), for the period 3/1/2019 through 3/31/2019.  RSC does not guarantee or is in any way responsible for its accuracy.  Data maintained by RSC may not reflect all real estate activity in the market."



Hector Hernandez | 719-599-8134 | Contact Me
6455 N. Union Blvd. Suite 100 - Colorado Springs, CO 80918
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