It's Springtime in the Rockies and the kick off of our spring selling season. The Colorado Association of REALTORS® (CAR) released its monthly Market Trends report for February. Here were the findings: median sales price for Colorado Springs rose to $458,500 up 4% from January. In Denver the median leaped from $575,000 to $659,000 nearly a 15% hike in just one month. Durango’s median sales price is a little under $1 million, while Pueblo passed the $300,000 mark. Here's where we shook out in price points across El Paso county:
Some would say what's happening today - the extreme shortage of inventory, too many cash investors and a significant bump in interest rates - creates the perfect trifecta for a challenging marketplace, especially for first-time home buyers.
“Sellers listing in mid-April can expect to find relatively high buyer interest, coupled with limited competition from other sellers, that equates to fast-selling homes at top dollar,” says Danielle Hale, the chief economist for Realtor.com®.
So hold on tight and buckle up, with more homes coming on the market in the weeks and months ahead, it's going to be an exciting ride. If you'd like to take a look and see what's out there, please feel free to give me call. And, if you're contemplating selling, I'll help you get your home looking it's Sunday best with on-trend staging and gorgeous photography, so you can take advantage of this prime time!