January Market Report with the MacGuire Team
We're onto another month in the real estate world, and with a new month means new local real estate market conditions in El Paso County, Colorado. Check out the market insights of what January looked like and how it may affect you if you are planning on buying a Colorado Springs home.
Average Days On Market
As of January, we saw a lower average of inventory sitting just 46 days on the market, compared to the historically recorded 67 days. This means homes are selling more quickly historically, but compared to last month, about a week longer on the market. Low inventory tells us this quicker sell time could continue until the market sees a surge in available properties for sale. This is great news for the seller who's hoping to move their property quickly.
Listing vs. Sales Prices
Sales prices as of January have been just a hair under listing prices, averaging at 99.2%. The historical average is 98.3% for the El Paso County area within this time of year. Inventory being so low is playing a huge factor in the listing vs sales prices being so close in numbers. Sellers are able to entertain multiple offers from motivated buyers to determine which one will meet their financial needs most closely. However, multiple offers are definitely more prevalent in certain price points.
Average Sales Prices
Comparing January 2018 to January 2019, we've seen a 3.4% increase in average sales price this year. While we saw a slight seasonal decrease from November to December, home prices are expected to rise through 2019.
Buyers: Time is of the Essence!
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. With inventory being significantly low, you’ll want to have your financing in order so you can act fast and secure the right home. Remember, you're likely not the only buyer out there looking for properties offering great features. So, time really is of the essence when making a decision. Qualified buyers won't waste time on getting their offers in!
NOW is the Time to Sell!
Now is the time to get your home listed for sale to stay ahead of the competition. Depending on price and presentation, homes have been selling quickly, 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.
Colorado Springs Real Estate Agents
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. Stay tuned to our blog and be sure to follow us on our social media platforms to stay up to date on the real estate market and other important information we share weekly!
Average Days On Market
As of January, we saw a lower average of inventory sitting just 46 days on the market, compared to the historically recorded 67 days. This means homes are selling more quickly historically, but compared to last month, about a week longer on the market. Low inventory tells us this quicker sell time could continue until the market sees a surge in available properties for sale. This is great news for the seller who's hoping to move their property quickly.
Listing vs. Sales Prices
Sales prices as of January have been just a hair under listing prices, averaging at 99.2%. The historical average is 98.3% for the El Paso County area within this time of year. Inventory being so low is playing a huge factor in the listing vs sales prices being so close in numbers. Sellers are able to entertain multiple offers from motivated buyers to determine which one will meet their financial needs most closely. However, multiple offers are definitely more prevalent in certain price points.
Average Sales Prices
Comparing January 2018 to January 2019, we've seen a 3.4% increase in average sales price this year. While we saw a slight seasonal decrease from November to December, home prices are expected to rise through 2019.
Buyers: Time is of the Essence!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. With inventory being significantly low, you’ll want to have your financing in order so you can act fast and secure the right home. Remember, you're likely not the only buyer out there looking for properties offering great features. So, time really is of the essence when making a decision. Qualified buyers won't waste time on getting their offers in!
NOW is the Time to Sell!
Now is the time to get your home listed for sale to stay ahead of the competition. Depending on price and presentation, homes have been selling quickly, 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.
Colorado Springs Real Estate Agents
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. Stay tuned to our blog and be sure to follow us on our social media platforms to stay up to date on the real estate market and other important information we share weekly!
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
Mike@BuyWithMike.com
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