October Market Snapshot with the MacGuire Team

We continue to see indicators of a strong real estate market, even through the fall season, 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 October looked like and how it may affect you if you are planning on selling or buying a Colorado Springs home.

Average Days On Market
With just over 900 existing single family homes for sale in El Paso County, the inventory is low. The low inventory speaks volumes on the current average days of homes on the market, just averaging at 29 days. Historically, the average is 67 days on the market. If you are considering selling your home, now is the time! There are home buyers waiting for the RIGHT HOME to come on the market. If you would like a specific analysis for your home in your neighborhood, I am happy to provide a custom market analysis for you.

Listing vs. Sales Prices
We continue to see strong list price vs. sales price as sellers are receiving an incredible 99.9% 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 October 2018 to October 2019, we've seen a 7.6% increase in average sales price this year. Colorado Springs remains a very price driven market with 82.6% of all home sales under $450,000.

Sellers: It's the Right Time to Sell!
There are buyers sitting on the sideline waiting for the RIGHT home to purchase. Interest rates remain low.  It is a great time to SELL your home.  If you would like to know what your home is worth, please give me a call.  I will provide a free market analysis and discuss with you what you need to do to prepare your home so you get the highest price possible. 

NOW is the Time to Sell and Buy!
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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