October, 2019 MARKET UPDATE
One year change in new listings decreased 13%.
One year change in sold listings increased 57.4%.
Inventory levels shrank 17.5%.
One year change in median sold price increased 28.9% with a median sales price of $245,000.
Days on Market was down 6.1% to 93 days.
Month supply of inventory was 3.5 months.
As we begin a slower time of year for home sales, historically low mortgage rates continue to support buyer demand and may create additional lift to home pries as excellent affordability gives buyer the ability to offer more to secure their dream home. Throughout much of the country, the continued low level of housing inventory also continues to constrain sales activity from where it would likely be in a balanced market.
Contact me for your FREE market analysis, to find an experience Realtor in your area or to begin a property search for you!
Statistics based on year over year changes. These Royal Gorge Association of Realtors statistics compiled by the Colorado Assocation of Realtors.