Market statistics for December 2013 in El Paso County
Colorado Springs’ real estate market is tied very closely to military activity. ‘Military rotation’ (moving out – moving in) will not really start until April, however, there are lots of serious buyers out ‘hunting’, a good time time to buy OR sell a home quickly.
Overall the real estate market has calmed down, the days on market until sold had a slight uptick but is still quite short compared to just 2 years ago. This just might be the calm before the storm.
Home inventory has increased from 2,932 homes for sale in December 2012 to 3,219 in December 2013 – a trend that buyers are happy to see as it eases the stress of tight inventory some.
Finally more listings! The first time since 2011 that we have an increase in listings – and this increase is not driven by distressed home sales like it was in 2010 but solid home listing offers.
The graphic below displays very well, just how tight the market was in the summer time. Expect similar numbers for this summer. If you want to buy a home, be ready to make quick decisions and have a lender pre-approval in hand when you are submitting an offer. Sellers, while this is good news to you, and buyers choice is limited – you might be surprised to know that buyers will ‘punish’ homeowners that have not staged their home perfectly with a much lower price than listed or no offer at all. Perfectly staged homes sell within days and achieve the highest prices, sometimes through a bidding war if necessary.
For the fourth year in a row there was an increase in the total year to date sales in Colorado Springs. Fewer homes for sale, higher prices, helped home owners that have been wanting to sell for a long time – to finally sell and move on.
If you ever wondered, whether December (or winter) would be a good time to buy – take a look at this December statistic. Compared to July the average home price is about $12,000 less in December. What could you do with $12,000?
If I can answer any questions for you, or assist you in anyway in your home search, please give me a call or text me at any time: 719-321-0800
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.”