August 2018 Colorado Springs Real Estate Statistics: Lower number of home sales in the PPAR Pikes Peak area for the last 7 months. August showed a 7.8% drop in sales, although the median sales price continues to rise, increasing 10.3% this month to $315,000.
Single Family Home Sales Price
Median for August 2018: $315,000
Median for August 2017: $282,750
Result: The median sales price of a home is still going up, $32,250 from August last year. Since less people who can afford to buy, more people want to rent homes. Rental home availability is very low, so if you have an investment property you would like to rent, call us today! Many families need these media-priced homes to rent.
Average Days on Market
August 2018: 26 days
August 2017: 24 days
Result: The average Days on Market is increasing as we go into the fall months, as expected. 26 DOM is still very low. This is good news for real estate investors who own Colorado Springs rental home--because it is harder for potential buyers to put a successful bid on a home, more people will need to rent, meaning your rental property will stay rented!
Year-to-Date (YTD) Total Homes Sold
August 2018: 1529 homes sold
August 2017: 1658 homes sold
Result: The number of homes sold Year-to-Date up 129 homes from last year at this time, a good upward trend.
August 2018 Colorado Springs Real Estate Statistics: The price of a residential home in the Colorado Springs region is still rising, now at $315,000. Since less people can afford that down payment, less homes (2,160) are on the market, and sell quickly (26 days). This means there is more demand for Colorado Springs rentals!
If you think it may be too hard to rent out your home in Colorado Springs, think again! Our property managers are experts, guiding you through the process every step of the way. Call All Seasons today to find out how you can make money by offering your Colorado Springs investment property as a rental. (719) 632-3368