Monthly Market Report with the MacGuire Team

We love helping first-time homebuyers navigate the realm of real estate just as much as we love helping buyers get back in when they’re ready to buy something that better suits their needs. 2019 is going to be a whole new ballgame because while we have plenty of buyers, finding homes for them was a bit challenging in 2018. We’re sharing with you a market insight of what the last month looked like in real estate and how it may affect you if you are planning on buying a Colorado Springs home.

Home Prices On the Rise
Comparing November 2017 to November 2018, we've seen an 8% increase in average sales price this year. Home prices are expected to rise through 2019. Many are predicting that it will be slower this year than last. If you’re wanting to buy a home, NOW is the time to start looking. It may take some time to find what you’re looking for, so you’ll want to have your finger on the pulse early. When you’re ideal home pops up, you’ll want to have everything in order already so you can act fast and secure your dream home.

It’s Still a Seller’s Market
2018 was a great year for sellers. Inventory is significantly lower than past years, but it will surge in 2019. In 2015-2018, we saw a trend of earlier surges in our local market. So right now, it's a perfect time to get your home listed for sale to stay ahead of the competition. Homes have been flying off of the market fast and furious, buyers are looking high and low for nice homes in great areas, and Colorado Springs fits the bill perfectly. The Colorado Springs real estate market is going to be booming this year.

Mortgage Rates on the Rise
It may not be what you want to hear as you’re looking for your first home in Colorado Springs, but it’s a possibility. While you really can’t predict with 100% reliability what the mortgage rates will do, they are predicted to rise this year. This means it’s more important than ever to get your finances in order. If you don’t have a down payment, now is a great time to start saving furiously. If you have a large amount of money on credit, you may want to start paying some of it off if your debt to income ratio isn’t appealing. When you’re ready to buy a home, it’s more important than ever to make your financial situation look great. Don’t change jobs, make smart choices, and plan ahead for what you want.

Colorado Springs Real Estate Agents
Just because single-family homes are hard to come by doesn’t mean that there aren’t any out there. In fact, with a little bit of searching, and some flexibility on your needs and wants, you may just be able to find the home of your dreams. Let’s start browsing! It’s the first step to buying your home. If you’re interested in selling a Colorado Springs home, you’re in luck. This is a great time to sell, and our team wants to help you sell it as soon as possible for as much as possible. Visit our website to learn more about all of our services and how we can help you through the coming year to achieve all of your real estate goals.

Mike MacGuire
Colorado Springs Real Estate Agent
The MacGuire Team
6760 Corporate Dr
Ste 300
Colorado Springs, CO 80919

719-536-4324 or 719-660-6793


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