2018 Q3 Colorado Springs Real Estate Statistics

Posted by Brian Pfeffer on Wednesday, October 31st, 2018 at 1:20pm.

The most recent numbers show another strong quarter for the Colorado Springs housing market.

colorado-springs-real-estate-Q3-2018

Compared to Q3 of 2017, the total number of listings and days on the market remained virtually identical. Homes priced between $300k-$500k along with the $1million+ market gained momentum, but the number of units sold under $300k declined by 26% due to the extreme lack of inventory.

One interesting indicator during this quarterly cycle is the median sales price. Although our local market values have increased another 11% over the same period last year, the current median sales price is down 2% compared to Q2 of 2018.

Keep An Eye On Interest Rates

freddie-mac-average-mortgage-rates-oct2018

Mortgage interest rates also continue to rise. According to Freddie Mac, the average rate for a 30-year mortgage is currently 4.86% - up nearly one percentage point since October of 2017.

If you have been sitting on the fence, now is the time to act!

Contact us today to get started!

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