Bottom Line Up Front (BLUF):
- Home sales are slowing and inventory is decreasing as we approach the winter months…still, prices are higher than this time last year and even comparable to this spring
- Inventory remains relatively low…there were 24% fewer homes on the market than October 2015
- Interest rates are hanging at near historic lows…that combined with rising rents are keeping buyers interested in the market
- List Price/Sold Price: 99.2%
- Median Sales Price: $255,625 (8.8% increase from October 2015)
- Average Time on Market: 38 days (71 days in October 2015)
About the author: The above post “Colorado Springs Market Report – October 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.
To get a complimentary home valuation click HERE.