Bottom Line Up Front (BLUF):
- Home sales are slowing somewhat and inventory continues to decrease as we enter the winter months…still, there were 47% more homes sold in November 2016 as the same time last year
- Inventory remains relatively low…there were 26% fewer homes on the market than November 2015, and the trend is moving downward
- Interest rates are starting to move up, but from a historic perspective, still very low…that combined with rising rents are keeping buyers interested in the market
- List Price/Sold Price: 99.2% (same as last month
- Median Sales Price: $256,566 (8.3% increase from November 2015)
- Average Time on Market: 39 days (59 days in November 2015)
About the author: The above post “Colorado Springs Market Report – November 2016” was provided by Kevin Guerrero of Keller Williams Clients’ Choice Realty. To find out more about Kevin and Keller Williams check out the ABOUT US page.
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