Real Estate Stats for Old Farm September 2020 show homes are selling extremely fast in Old Farm, with an average of 6 days on market last month. (Less than a week!) Sale prices last month ranged from $265,000 to $404,000 for Old Farm.
The average price was up 6.2% at $351,564 compared to last year. The median price of $355,000 was up 8.6% from last September. Sales were up 57.1% at 11 homes sold and there are 10 homes currently pending sale in Old Farm.
Most notably, for the Pikes Peak Region as a whole, our inventory keeps shrinking. September went out strong in terms of sales, with home sales up 29.4% at 1,804 homes sold. The median price hit a new record of $385,000, up 18.3% from last September. The biggest news is that we have a new record low for inventory! As of October 1st, there are only 992 homes for sale, down 52.5% from last year! This equates to only a 0.55 month supply of homes, or just over a 16 days!
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