The El Paso County area experienced a 24% spike in Single Family Home Sales during the month of May compared to April. The median & average price continues to hit record highs, $315,000 and $353,204, respectively. The average home sales price is up nearly 25% in the last four years. We are seeing very low inventory numbers which is a huge driving force behind the current home price values. YTD sales are at 5,967 compared to 4,046 just four years ago which is an astronomical 47% increase! Just looking at home sales by price range in May compared to April there are stats that jump off the board. For example, there were 56 more homes sold in the $200,000-$299,000 range, 126 more homes sold in the $300,000-$399,000 range, and 83 more homes sold in the $400,000-$499,000 range. By comparison there was no increase (65) in homes sold under $199k. Home values in Colorado Springs continue to trend upward and there is nothing indicating this trend will change anytime soon. Low housing inventory, historically low interest rates, strong consumer confidence makes for a Bullish housing market.