May Market Snapshot with the MacGuire Team
We're well into the beautiful summer months, and definitely seeing a rise in buyer interest in the real estate market. With a new month means new local real estate market conditions in El Paso County, Colorado. Check out the market insights of what May looked like and how it may affect you if you are planning on selling or buying a Colorado Springs home . Average Days On Market As of May, we saw an even lower average of inventory sitting only 25 days on the market, compared to the historically recorded 67 days. The continuing lack of inventory is still leaving buyers with little options, meaning they're jumping at the limited opportunities more quickly. This is leaving the market looking slimmer than last year. Historically, we've seen an average of 8.2 months of inventory, and in May, that number is drastically lower, at only 1.1 months. Listing vs. Sales Prices Sales prices as of May remain relatively steady at 99.8%. The historical average is 98.3% for the El P...