Buying Real Estate in Colorado Springs
Though not as hot as the Denver market, Colorado Springs is a competitive buyer’s market. The current median home price of approximately $330,000 is up 4% from last year which follows a ten-year trend of steadily rising prices.
Inventory is not as difficult to come by in Colorado Springs compared to some Denver suburbs with 1,849 Colorado Springs listings currently on the market but it’s still a highly competitive market. Overall trends in June of 2019 were very similar to June 2018 trends indicating a market that may be slowing down but not dropping off. Redfin gives Colorado Springs a competitive market score of 85 out of 100, more competitive than some Denver suburbs.
Selling Real Estate in Colorado Springs
Lower than average inventory is the toughest part of selling real estate in Colorado Springs. If you’re a realtor, flipper, or investor there aren’t many homes to choose from. On the positive side if you do have inventory, it’s not difficult to unload in this expanding city. According to real estate resources Great Colorado Homes and Redfin, Colorado Springs listings average 25 days on the market and most sell at or just above asking price, many with only one offer.
Closing the Deal in Colorado Springs
Because Colorado Springs is on the Front Range you should expect a competitive market and low inventory, but competition and prices aren’t as bad as Denver and its surrounding suburbs. The growing city has all the amenities, jobs, and nearby adventure most families want when they move to Colorado – it’s just a matter of finding the right housing. Overall, Colorado Springs can be a tough market but if you can find inventory, you’ll have little to no problem selling it.