Real Estate Stats for Old Farm August 2020 show homes are selling extremely fast in Old Farm, with an average of 3 days on market last month. The selling price vs list price was 103.14% in August, meaning homes are selling on average for 3.14% above asking. Sale prices last month ranged from $319,900 to $370,000 for Old Farm.
The average price was up 5.1% at $341,480 compared to last year. The median price of $335,000 was the same as August last year. While sales were down slightly at 5 homes compared to 9 last August, there are 14 homes currently pending sale in Old Farm.
Most notably, for the Pikes Peak Region as a whole, our inventory keeps shrinking. As of September 1st, there are only 1,095 homes for sale, down 50.1% from last year! Essentially, we have half the number of homes for sale right now compared to the same time last year. This equates to only a 0.62 month (or 19 day) supply of homes, making it the lowest supply we have ever seen. There just aren’t enough homes for sale to keep up with buyer demand! There are 2,614 homes pending sale as of 9/1.
The competition for buyers keep growing due to lack of inventory and historically low interest rates. But did you know that you can afford more home now than ever before?
We need more listings for our buyers! If you have been debating on selling, NOW may be the time! There is much less competition, plus a high demand. Please reach out to us so that we can help you come up with the best strategy for your situation!
To see more detailed information, please visit our Market Conditions page.
Please give us a call whether you are thinking of buying or selling!
Rick Van Wieren (719) 331-7675
Mary Barkley (719) 421-9360