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April 2020 | Colorado Springs Real Estate Market INSIDER

April 2020 Colorado Springs Real Estate Market

The Colorado Springs Real Estate Market Insider Report:
April 2020

According to the new data released by the Pikes Peak Association of REALTORS® for April 2020, the Colorado Springs real estate market is still on fire with record sales.

The Bottom line:

While the Coronavirus has hurt much of the U.S. economy, the Colorado Springs housing market seems to be fine.... for now. We had a 24% drop in new listings over April of last year. Our supply of homes for sale is still low, so our local home prices keep rising. At the same time, it's obvious that these numbers are going to shift as our local economy deals with the fallout from the stay-at-home order.

Let's take a look at the April 2020 real estate market stats for Colorado Springs:

 

April 2020 Colorado Springs Real Estate Statistics

  • New Listings: 1,458 (Down -24.2% from last year)
  • Sold Listings: 1,219 (Down -7.7% from last year)
  • Total Active Listings: 1,589 (Up +1.1% from last year)
  • Median Sales Price: $360,600 (Up +9.8% from last year)
  • List To Sold Price Ratio: 101.5% (Up +1.4% from last year)
  • Days on the Market: 20 Days (Up -37.5% from last year)

The Colorado Spring's Real Estate Market is going to change!

The tough part about real estate market statistics is that they only reflect the activity from within the past few months. Sales from April are tied to buyers and sellers who started working with their agents in February & March. One statistic that is alarming is the 24% drop in new listings. This time of year, we typically have many more homes come on the market.

There were potential sellers in April who decided not to list. Will they all come out and list in May or June? Maybe. We'll keep you posted as the numbers change. Right now, it's very hard to tell where our market is headed.


April 2020 Colorado Springs Real Estate Market Statistics Infographic

Based on information from the Pikes Peak REALTOR® Services Corp. ("RSC"), for the period April 1, 2020 through April 30, 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.

Andrew Fortune

Hi! I'm Andrew Fortune, the founder of Great Colorado Homes and the creator of much of the content on this website. Thanks for taking the time to read this article. Please feel free to share this article with someone who might benefit from it. I appreciate your time here on this site and am always open to suggestions and ideas from our readers.


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