|Forest Meadows Real Estate April 2022 set new RECORD highs for the median and average homes prices in our neighborhood. The average home price is up 22.4% to $540,167! This is up almost $100k from last April which is just crazy! The median price is up 20.5% to $530,000 which is up $90k in one year. Homeowners should be seeing quite a bit of equity in their homes!
The market is still swift as the average time on market was only 4 days last month and the average selling price was roughly 3.5% over list price. While sales went down slightly, we currently have 16 homes pending close and 0 homes for sale in Forest Meadows & The Trails.
To see more detailed statistics for our neighborhood, including quarterly stats, click here.
In the Pikes Peak Region, last month was another record-setting month for home prices in Colorado Springs! The average price increased 16.6% to $561,631. This is up almost $80,000 from last April! The median home price rose 14.0% to $484,450. This is up nearly $60,000 from last year. Waiting even just 1 year will cost buyers substantially.
We did see a slight break in the clouds when it comes to inventory, as our inventory is up 300 homes from last month and up 420 homes over last year! We started the day with 988 homes for sale, but those will likely be under contract in just a few days. We still don’t have even a 1 month supply of homes, making the market the swift and competitive.
Last month came in second place for the total home sales in an April month. With 1,488 homes sold, we only missed tying the record by 1 sale.
Needless to say, things are not slowing down. It is important to note that interest rates are rising along with home prices. This can have a major impact on a buyer’s purchasing power, so don’t delay too long if you are thinking about buying.
Sellers — there really is no better time than NOW. Competition is low, demand is high, and you will likely get top dollar for your home.
|Homes for sale in Forest Meadows & The Trails, click HERE
What has sold in Forest Meadows & The Trails this year, click HERE
To see more detailed information, please visit our Market Conditions page.
Give us a call whether you are thinking of buying or selling!
Rick Van Wieren (719) 331-7675
Mary Barkley (719) 421-9360