What happened with real estate sales in 2017? It was a hustle and bustle market in Colorado Springs last year. Today, Deborah Elliott-Shultz discusses with Bill McAfee of Empire Title about how the Colorado Springs housing market statistics.
Summing up the year, Bill exclaims, “That it was awesome!”
Typically in a year, there is a 3% improvement in price and sales. For 2017, there was a 10% improvement. We led Denver and the northern counties. Plus, the median price increased 9%. These amazing statistics were driven by demand and inventory shortage. Sales increased by 2% while the number of available homes were 18% lower, and the average days on market for a home sale was 31 days.
However, that 31 days includes homes in all price ranges. Homes listed above $1M are currently sitting on the market for 18 months. For homes in the $750k-$1M range, days on market is typically 6 months. Houses ranging in price from $200-$250k are sitting on the market for 9 days. There are two things to take away from this information: 1) When you’re looking to sell, make sure you know where you’re going before you list your home, and 2) now is the time to sell if you home is listed between $200k-$400k!
While the demand is still high, curb appeal and certain points of pizzazz with your home are still crucial. Come listen as Deborah and Bill discuss the current real estate market and what it means for you. To discuss any questions you may have, Deborah can be reached at (719) 641-1357. You can also discuss questions with the team at Empire Title at (719) 884-5300.