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Nancy Murray, Realtor®
with Keller Williams Clients' Choice
Direct: 719-964-4810
Office: 719-357-6320
Fax: 866-748-9878
Email Nancy

Colorado Springs MLS Market Update for March 2017

Posted By Nancy Murray @ Apr 8th 2017 5:35pm In: Academy District 20 School Information

Colorado Springs MLS Market Update for March 2017

By Murray & Associates - Keller Williams Colorado Springs

Colorado Springs Real Estate Market.

Active listings are down 25% from one year ago and sales are up 6%. Just from February our active listings increased less than 8% with 30% more new listings, but sales were up 43%. The result is that inventory is at a record low across the MLS and all properties at 1.2 months. Average Sales price is up 9% from one year ago and median sales price is up 11%. This activity is very similar to what Denver has been dealing with for the past year.

 In our office, we have started marketing our listings to other agents in the office before going active allowing our fellow agents to help us sell our listings while helping their buyers find a nice property without the heavy competition. This is proving to be a very successful strategy for our buyers and sellers.

Lately, my experience is that sellers are not considering offers below list price due to the multiple offer scenario. Buyers are being asked to submit their "best and final" offer with initial offer due to the increase in activity. Nice properties are frequently under contract in less than one week after entering the market. First time home buyers and VA buyers are often up against conventional buyers with more cash for down payment making it difficult for them to compete.

Colorado Springs Homes for Sale

New construction permits are down 3% from a year ago and up 26% from February. Home builders are struggling to keep up with the demand. It is rare to find a completed spec home available in today's market, most spec homes are sold around the framing stage.

Colorado Springs New Home Starts

Search new homes or new construction in District 20.

Academy School District 20 Real Estate Market Report

To find out what your home is worth, request a complimentary market analysis for your Colorado Springs home.

By Nancy Murray

Murray & Associates, Keller Williams Colorado Springs

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