Here’s your housing market update for the month of May of 2021 and it’s looking like we’re down for new listings from 1,879 to 1,876 compared to the month of April. That’s 3 listings less from April to May in the single family and patio homes department!
Average Home Price in Colorado Springs
And, compared to this time last year for May we had 71 more listings so we’re still down for new listings as far as year over year goes. I like to use the median sales price instead of the average because I feel it's more practical for those inquiring about average sales. It tends to be a little more accurate in my very own opinion. The median sales price for single family homes and patio homes is $432,095 - up 1.7% from April so if you’re a homeowner, congratulations on your equity! That’s 23.5% up in sales price from May of last year!
How much equity will I have in 5 years?
As far as condos and townhomes we are down for new listings 5.1% from 217 to 206 when comparing April to May of 2021, and last year there were 253 new listings in May, so we’re down 18% for condos and townhomes compared to last year in May.
However, median sales are up 1.8% from April to May and compared to last year we’re up 23.9% as the median price for condos and townhomes in May is $310,500. That’s a huge jump in just one year! Can you imagine over 5 years? Your home could almost double in value depending on where you live and the market. Colorado Springs has definitely exploded in the last 5 years.
How much are homes going over asking price?
Homes in the last 3 days sold show an average list vs sold price at 106% but go as high as 126.9%! And that is your monthly housing market update for the month of May 2021!
My name is Iris with REMAX Integrity. Stay tuned and subscribed for next month’s Colorado Springs market update. Thanks for watching!
Ask me anything!
BROKER ASSOCIATE | RE/MAX® INTEGRITY
Colorado Springs, CO REALTOR®
©Copyright 2021 Pikes Peak REALTOR® Services Corp. All rights reserved. Unauthorized reproduction is prohibited. Based on information from the Pikes Peak REALTOR® Services Corp. (“RSC”) for the period May 2020 through May 2021. RSC information may not reflect all real estate activity in the market and is provided as is without warranty or guaranty. **3 day data of list price vs sold price is from the date recorded which is the first week of June 2021. I know, I'm a slacker. City is Colorado Springs and Fountain.