When it comes to Colorado Real Estate, Denver’s hot market is usually the topic of discussion. Recently however, we have discovered some interesting things happening in real estate in Colorado Springs, CO. If you are thinking about selling your Colorado Springs home, now might be a great time.
Here are a three trends that show why now may be a great time to list your home in Colorado Springs.
The Amount of Active Listings is Declining
According to Pikes Peak MLS, listings have hit a 12 month low. With a decrease in home inventory, demand increase usually follows. Our next graph is a good indication of that.
The Number of new listings is also on a sharp decline. Since May of 2016, the number of new listings in Colorado Springs has dropped almost 90%
Average Days on Market is Decreasing
For the first time in 12 months, the average days on market is below 30. This is a huge indication that the market is starting to tilt more towards a sellers market.
In the above graph, you can see that the average number of days it took to sell a home on average has reduced by almost 50% since January.
The Number of Expired Listings is Declining
Although real estate in Colorado Springs, CO is not at a 12 month low for expired listings, they are close. Since December, the average number of expired listings has decreased by nearly 65%. This means more people are selling their homes the first time around and less inventory is sitting stagnant on the MLS.
Any one of these trends is usually a great sign that the market is starting to tilt towards a sellers market. If you’re thinking of selling your Colorado Springs home, reach out to us at BlueMatch and sell commission free!