Colorado Springs Real Estate Market Report for August 2023

Colorado Springs Housing Market Report - August 2023

Hello, Colorado Springs community! As the warm summer breeze starts to give way to the cozy embrace of fall, let's dive into the housing market trends for August 2023.

Firstly, our area has seen some fascinating shifts. The median sales price in August climbed by $8k from July 2023. But when we cast our glance back to August of 2022, it seems we've made a modest dip of 0.1%. Meanwhile, the average sales price is riding a positive wave. It's up by 2.5% from July this year and impressively, it's risen by a noteworthy 4.4% from this time last year.

As we all took our summer vacations and maybe even went hiking on our favorite trails, 1,464 new homes proudly announced themselves on the market. While this might seem like a dip from the 1,695 fresh listings in June, let's remember that each of these homes represents dreams and opportunities for new homeowners. However, it's worth noting that our current listings are a significant 29.9% less than what we witnessed in August 2022.

Now, shifting our focus to sales, there's been a slight chill. Sales in August have taken a step back by 4.6% from July, and when we compare it with August of the preceding year, we see a more pronounced decrease of 21.9%. However, on a brighter note, sellers and buyers are finding common ground quite effectively. Our list price to sale price ratio stands strong at 99.6%, suggesting that homes are selling very close to their listed prices.

In conclusion, while there are fluctuations in our market, Colorado Springs remains a vibrant and dynamic place for both homeowners and prospective buyers. Each statistic paints a picture of our evolving community, and as we head into the later part of the year, it's an opportune moment to reflect on our housing needs and aspirations.

Stay informed, stay connected, and here's to finding the perfect home or the perfect buyer in the months ahead! ???????? 719-434-7525

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