Old Farm Real Estate Stats YTD show that real estate is also in back in full swing, after a COVID shadowed May. Overall, sales are up 18.52% in Old Farm year-to-date, with 32 homes sold this year versus 27 last year.
Additionally, home prices are up this year compared to last year! The average price is up over 10.8% in Old Farm at $355,175. The median price is up over 9.3% at $350,000! Better yet, the average list price vs sale price is 101.35%, meaning that on average, sellers are getting above asking price for their homes! Not to mention homes in Old Farm are selling in an average of 9 days– just over a week!
Sales in Old Farm continue to look strong with 18 homes pending sale as of July 1st!
Several records were broken in June for the entire Pikes Peak Region. We had record-breaking prices with an average of $401,981 and a median of $360,000!
There was record low inventory for a July 1st, with only 1,478 homes for sale, or roughly a 0.88 month supply (or 26 days!). Our area continues to struggle with a shortage of homes for sale.
Pending sales for the area are in the top 3 high numbers, at 2,643 homes! Overall sales are up just slightly over last year, at 2.0%. While we have not sold as many homes year-to-date as last year, we are extremely close, and with so many pending sales, we could likely catch up or surpass last year.
The numbers, overall, look pretty great. If we had more homes to sell, they could probably look a little better, but as of right now, real estate is still doing very well in the Pikes Peak Region.
As unemployment continues to fall, and more businesses reopen, we may see even more activity through the summer. Interest rates still remain at record lows, increasing purchasing power for buyers.
We also have more detailed statistics for our neighborhood, including quarterly stats.
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 Forest Meadows in Colorado Springs!
Please give us a call, we would love to help!
Rick Van Wieren (719) 331-7675
Mary Barkley (719) 421-9360