May Real Estate Stats for Old Farm in CO Springs show the strong demand for homes in your area! Despite all of the obstacles real estate faced in April, prices have risen and homes are selling in an average of 2 days!
The median price was up almost 11% at $355,000 and the average price was up 8.1% at $355,000.
Sales were down last month, mostly due to showing restrictions that we had in April which are now lifted. However, things are picking right back up in Old Farm. There are 13 homes pending as of 6/1/2020 and 2 homes currently for sale.
Additionally, homes sold in May ranged in price from $335,000 to $375,000.
The average size of homes sold in Old Farm was 3,009 sq ft, making the selling price per square foot $119.
The overall real estate market in Colorado Springs struggles with a lack of inventory. Last month we saw a sharp decline in listings. There is only a 1.38 month supply of homes in the entire Pikes Peak Region– and even less if you are looking for a home with a Colorado Springs mailing address.
Sellers may have an advantage at this time with such a lack of inventory and possible competition. However, buyers are finding the market to be incredibly competitive. This is even more so in the more affordable price ranges. With historically low interest rates, buyers may be able to increase their purchasing power.
To see more detailed information on the real estate market, check out our Market Conditions page
To see homes for sale in our neighborhood, visit our Real Estate page
Make sure to check back every month to see the real estate stats for Old Farm in Colorado Springs!
Please give us a call, we would love to help!
Rick Van Wieren (719) 331-7675
Mary Barkley (719) 421-9360