Colorado Springs Area Real Estate Market Report for June 2023

As a top Realtor® in the beautiful Colorado Springs area, I am excited to share the latest updates on the real estate market in June 2023. The dynamic market continues to show positive signs of growth and resilience. Let's explore key statistics and trends, shedding light on the current state of the local Pikes Peak region housing market.

1. Rising Median and Average Sales Prices:
June brought excellent news for homeowners and sellers in Colorado Springs. The median sales price experienced a noteworthy increase of $10,000 compared to May 2023. Moreover, the average sales price rose by an impressive 2.1% from the previous month and nearly 1% compared to June of last year. These upward trends indicate a strong and vibrant housing market in the region.

2. Increased Listings:
The month of June saw a surge in new listings hitting the market, with 1,695 properties becoming available for potential buyers. This represents a significant increase from the 1,590 new listings in May. The rise in inventory indicates a healthy level of housing supply, providing more options for prospective buyers to find their dream homes.

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3. Sales Performance:
Despite a decline of approximately 25% compared to the same time last year, June's sales numbers exhibited a positive trend. Sales in June were up 3.5% compared to May, showcasing the market's resilience and ability to rebound. This rise in sales activity suggests growing buyer confidence and increased demand in the Colorado Springs area.

4. Decreased Days on Market:
One notable trend observed in June is the reduction in "Days on Market." The average number of days a property spends on the market decreased by eight days since May. This decrease highlights the fast-paced nature of the local market, where homes are being snatched up at a quicker rate. Sellers can take advantage of this trend, benefiting from shorter selling periods.

5. Competitive Pricing and Seller Success:
The current market conditions in Colorado Springs are favorable for sellers, as home prices continue to climb. Sellers are achieving their desired prices and, in some cases, even surpassing them. This highlights the strong demand and competition among buyers, who are willing to meet or exceed the asking prices. If you're a homeowner considering selling your property, now is an opportune time to enter the market and capitalize on these favorable conditions.

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The Colorado Springs real estate market in June 2023 demonstrated a robust and dynamic landscape. With rising median and average sales prices, increased new listings, and a rebound in sales activity, the market continues to showcase its resilience. The reduced "Days on Market" indicate a sense of urgency among buyers, while sellers are reaping the benefits of competitive pricing. As a local Realtor®, I am excited to witness the continued growth and opportunities within the Colorado Springs housing market. Whether you're a buyer or seller, now is a great time to navigate the market and make the most of the current conditions.

Derek and Mariana Wagner - The Artisan Group, Keller Williams Premier Realty
Top Realtors® in Colorado Springs, Monument, Peyton, Fountain and surrounding areas

(719) 434-7525 | 25 N. Spruce Street #200, Colorado Springs CO 80905