Is this a Good Time to Sell in the Colorado Springs Real Estate Market? (2020)
Colorado Springs Real Estate Market Report
With communities slowly emerging from nationwide (world wide) lockdowns, many are returning to face the basic practical life decisions of yesterday with new uncertainties. Simple thoughts of putting ones home on the market is now surrounded with unfamiliar market variables that could leave you paralyzed with indecision.
It is a Good Time to Put Your Colorado Springs Home on the Market!
The numbers have spoken and the answer is clear. Yes, in fact it is a VERY GOOD time to have your house on the market in Colorado Springs, Colorado. If you are interested in liquidating or relocating out of the area, This is an amazing time to have your house on the market!
Based on information from the Pikes Peak REALTOR® Services Corp. (“RSC”), for the period Dec 2019 through April 2020. 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.
Spring is historically a great time of year to sell a home. However, the current unprecedented circumstances of community lock-downs and business shut downs (largely including most real estate business) has had a dramatic impact Colorado Springs average days on market . (Chart by PPAR)
In fact we just saw some recent record low average days on market for April. This basically means that there were more interested buyers than sellers.
The chart above illustrates the rise of the average and median sales price of homes in 2020
Simple graphs which highlight the law of supply and demand. We have demand while supply is low, this equals rising prices.
If you would like to discuss putting your home on the market please give us a call. We are here for you and would love to be chosen to help you navigate through determining if relocation at this time is right for you. Learn more about David & Ricki Chester or reach out at 719-900-3338