Real estate statistics for Old Farm in CO Springs shows that prices are still increasing! We just did our monthly and quarterly stats.
The median price was up 9.7% at $343,500 and the average price was up 10.7% at $339,768 for the first quarter.
Over the last 3 months, homes have been selling in average of 11 days.
There are 7 homes under contract as of 4/1/2020 and 0 homes currently for sale, indicating there is still high demand for our neighborhood.
Despite the uncertainty with the Coronavirus, real estate has been deemed essential. We remain busy helping our clients, while also taking added precautions.
The average size of homes sold in Old Farm was 2,340 sq ft, making the selling price per square foot $147.
The overall real estate market in Colorado Springs struggles with a lack of inventory. There is only a 1.05 month supply of homes in the entire Pikes Peak Region. This is even less if you are looking for a home with a Colorado Springs mailing address.
Consequently, the shortage of homes is putting pressure on sales as there just aren’t enough homes to sell! Buyers have less options and more competition. However, this is a good thing for sellers because of the high demand and lack of competition. So if you are even THINKING of selling, NOW is the time! Even with the current pandemic, real estate prices are increasing and so are sales!
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 statistics for Old Farm in Colorado Springs!
Please give us a call, we would love to help! If you are worried about how COVID-19 may affect real estate in our area, please give us a call so we can answer your questions!
Rick Van Wieren (719) 331-7675
Mary Barkley (719) 421-9360