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July 2019 HOUSING STATISTICS
July's Colorado Springs' Housing Market brought some much-needed positive numbers. There were 70 more homes sold July 2019 vs July 2018. Although we are still down 51 home sales YTD vs LY, things could have been less inspiring considering we were down 121 home sales going into the month of July. The Average price sits at a whopping $372,607 which is up $25,090 versus this time last year. The Median price is currently at $332,000 which is up $22,000 versus Las Year. July brought us a positive Home Sales Month vs LY for the second time in 2019. Comparatively, we had only three positive Home Sales Month vs LY for the entire 2018 year.
Year-to-date Single Family-Patio Homes sales are down 1.6% which could be expected based on the fact that YTD New listings are down 4.5%. Days on Market is now 31 days vs only 26 days in 2018.
We continue to see a price increase trend. There were 29 homes sold under $199,999 this July compared to 57 last year. For homes priced between $200,000 and $299,999 that number was 459 this year, compared to 589 in 2018. Homes priced between $300,000 and $399,999 saw a huge jump in sales, 583 in 2019 vs 463 last year. Another huge jump was in homes priced between $500,000 and $599,999 where we saw 110 total homes sold vs 74 last year.
What does the first half of 2019 tell us about the Colorado Springs real estate market? Although it was nice to see a 4% increase in July Home Sales vs 2018, we are still down vs LY numbers and continue to trend down for the second consecutive year. The upcoming months we will continue to monitor the Average and Medium Home prices very closely. The rise in new construction where you find higher priced homes compared to existing homes, continue to drive the average and median sales prices upward towards record-setting highs. We will also keep a close eye on the area's foreclosures. This is something we haven't considered much in several years, but the rise in Notice of Election and Demand (NED's) has been trending upward in recent months. We had 14 NED's the last week of April, and 30 the last week of July. We will continue to monitor this area to ensure you stay ahead of the Colorado Springs Real Estate market news.
Contact me at 719-599-8134 ext 5 for more information including a micro analysis of your situation.
|July 2018||July 2019||+/-|
|Number of Homes Sold||1514||1555||+ 2.7%|
|New Listings||1743||1640||- 5.9%|
|Medium Sales Price||$310,000||$332,000||+ 7.1%|
|Average Sales Price||$347,071||$372,131||+ 7.2%|
|Average Days on Market||22||23||+ 4.5%|
|Percent (%) of Sold Price vs List Price||100.2%||100.1%||- 0.1%|
|New Listings||1743||1640||- 5.9%|
|Sold Listings||1514||1555||+ 2.7%|
|Inventory Homes for Sale||2476||2023||- 18.4%|
|Months Supply of Inventory||1.9||1.7||- 10.5%|
|New Listings||237||221||- 6.8%|
|Sold Listings||229||231||- 0.9%|
|Inventory Homes for Sale||220||183||- 16.8%|
|Months Supply of Inventory||1.2||1.0||- 16.7%|
|Up to $199,999||29||- 28|
|$200,000 - $299,000||459||- 130|
|$300,000 - $399,000||583||+ 121|
|$400,000 - $499,000||207||+ 17|
|$500,000 - $599,000||110||+ 39|
|$600,000 - $799,000||55||+ 8|
|$800,000 - $999,000||21||+ 9|
|$1,000,000 - $1,999,000||9||Flat|
|Over $2,000,000||1||+ 1|
"Based on information from the Pikes Peak REALTOR® Services Corp. ("RSC"), for the period 7/1/2019 through 7/31/2019. 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."