July Market Snapshot with the MacGuire Team

We continue to see indicators of a strong real estate market, which is wonderful news! With a new month means new local real estate market conditions in El Paso County, Colorado. Check out the market insights of what June looked like and how it may affect you if you are planning on selling or buying a Colorado Springs home.

Average Days On Market
While inventory is increasing, the average days on the market is still very low at just 23 days, compared to the historically recorded 67 days. Because of the lack of inventory, and steady increase of motivated buyers, homes are still selling quickly. This is great news for the seller who's hoping to move their property quickly.

Listing vs. Sales Prices
We continue to see strong list price vs. sales price as sellers are receiving an incredible 100% of their asking price. The historical average is 96.3% for the El Paso County area within this time of year. Inventory being low is playing a 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 July 2018 to July 2019, we've seen a 7.2% increase in average sales price this year. Colorado Springs remains a very price driven market with 82.7% of all home sales under $450,000.

Buyers: Your Realtor Representation is FREE!
Buyer representation is free and it does not increase the price of the home. However, if you complete the builder’s registration, it may prohibit you from having a Realtor represent YOUR BEST INTEREST.

NOW is the Time to Sell and Buy!
Our Summer Market is full swing. Now is a great time to buy or sell a home! If you have questions about the current market conditions or are considering buying or selling a home, give me a call. Let’s just start with a conversation. 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


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