|Old Farm Real Estate Stats April 2022 show that the average price finally crossed the $500k threshold. Last month the average price increased 21.1% to a record $512,221. That’s up nearly $90k from last April! The median price increased 8.2% from last year to $460,000. Homes sold in under a week in Old Farm, ranging in sale price from $430,000 to $691,000. Not to mention, homes sold for nearly 3.7% over list price on average last month. |
Currently there are 7 homes pending close and 9 homes for sale. So far 21 homes have been sold this year, but we still need more listings for our buyers! Please give us a call if you are thinking of selling in the next 6 months!
To see more detailed stats for Old Farm, including quarterly stats, click here
In the Pikes Peak Region, last month was another record-setting month for home prices in Colorado Springs! The average price increased 16.6% to $561,631. This is up almost $80,000 from last April! The median home price rose 14.0% to $484,450. This is up nearly $60,000 from last year. Waiting even just 1 year will cost buyers substantially.
We did see a slight break in the clouds when it comes to inventory, as our inventory is up 300 homes from last month and up 420 homes over last year! We started the day with 988 homes for sale, but those will likely be under contract in just a few days. We still don’t have even a 1 month supply of homes, making the market the swift and competitive.
Last month came in second place for the total home sales in an April month. With 1,488 homes sold, we only missed tying the record by 1 sale.
Needless to say, things are not slowing down. It is important to note that interest rates are rising along with home prices. This can have a major impact on a buyer’s purchasing power, so don’t delay too long if you are thinking about buying.
Sellers — there really is no better time than NOW. Competition is low, demand is high, and you will likely get top dollar for your home.
To see The Van Wieren Team’s Featured Listings, click HERE
To see homes currently for sale in Old Farm, click HERE
To see what has sold this year in Old Farm, click HERE
Check out more detailed information, please visit our Market Conditions page.
Give us a call if you are thinking of buying or selling!
Rick Van Wieren (719) 331-7675
Mary Barkley (719) 421-9360