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May 2016 Colorado Springs Real Estate Statistics

May 2016 Colorado Springs Real Estate Statistics


The Colorado Springs Real Estate Market Report for May 2016

According to the new data released by the Pikes Peak Association of REALTORS® for May 2016, the Colorado Springs real estate market is finally starting to balance out a little, after a crazy record-breaking April.

The Bottom line:

April was the craziest month that we have had in years. May is showing signs of slowing down (but not much), which means we may be past the peak of the market for this year. This sales boom we've experienced this year has pushed our median sales price way up to $262,000.

Let's take a look at the May 2016 real estate market numbers for Colorado Springs:

May 2016 Colorado Springs Real Estate Statistics

  • New Listings: 1,955 (Up +6.0% from last year)
  • Sold Listings: 1,497 (Up +6.7% from last year)
  • Total Active Listings: 2,296 (Down .6% from last year)
  • Median Sales Price: $262,000 (Up +7.3% from last year)
  • Total Under Contract: 3,108 (Up +15.4% from last year)
  • List To Sold Price Ratio: 99.7% (Up +0.7% from last year)
  • Days on the Market: 35 Days (Down 48% from last year)

The Colorado Springs Real Estate Market is Still Strong!

May and June are usually our busiest months, but this year's trends are showing that last April will most likely be the height of our market for 2016. The buzz about our market has caused home prices to reach the highest that we've seen yet. We predict that this will slow down towards the end of Summer and balance out after that. So, if you're a homebuyer who feels that our market is too crazy right now, you may start to feel less pressure as things balance out later this year.

May 2016 Colorado Springs Real Estate Market Report

These numbers cover all of Colorado Springs, CO and the surrounding areas, including Black Forest, Broadmoor, Briargate, Divide, Florissant, Fountain, Falcon, Gleneagle, Larkspur, Lake George, Manitou Springs, Monument, Northgate, Old Colorado City, Palmer Lake, Peyton, Powers, Rockrimmon, Security, Tri-Lakes, Widefield, Woodland Park, and Woodmoor areas.

 

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. Feel free to leave a comment in the box below.


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9 Responses to "May 2016 Colorado Springs Real Estate Statistics"

Jeeves wrote: Nice infographic on colorado springs real estate market.

Posted on Tue, Jun 21st, 2016 03:40am

Milly wrote: Great post and nice info...

Posted on Thu, Jun 23rd, 2016 04:02am

Nevin Hill wrote: Hi Andrew! I am new to real estate after nearly a decade in retail and business banking. I am helping our family real estate group to expand and take advantage of the up-turn here in Michigan. I just wanted to give you props for such a great job on your marketing and the visual appeal of your work! I would love to connect with you to find ways I can deliver a similar high-level communication to our clients and community in South East Michigan/Metro-Detroit. What is the best way to stay in contact with you and to throw a few questions your way?

Posted on Wed, Jun 29th, 2016 02:36pm

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