Forest Meadows Real Estate July 2022

Forest Meadows Real Estate July 2022
Forest Meadows Real Estate July 2022 show that home sales are starting to cool off slightly with sales down 25% from last year at 12 homes sold. However, prices continue to rise. The average sold price is up 12.4% at $531,625. The median price is up 11.7% at $521,750. 
What is shocking is that for the first time since January 2020, the average selling price vs list price dropped below 100% to 99.9%. This indicates that the selling price was slightly less than the asking price on average. For comparison, this average was 103.3% last July. Sellers can expect to see offers closer to asking as opposed to the bidding wars we have been seeing the past 2 years. 

As of this morning, there are 13 homes for sale and 9 homes pending sale in our neighborhood. 

To see more detailed statistics for our neighborhood, including quarterly stats, click here.

In the Pikes Peak Region, we have some good news! We have the most inventory we’ve seen since August 2016! As of this morning, we have 2,605 homes for sale! This is a 160.8% increase in supply compared to last year (with only 999 homes for sale) . 

Even with the increased inventory, prices continue to rise. The average price is up 11.2% to $557,250 and the median price is up 7.2% to $482,500. Prices are expected to continue to rise this year, just at a more moderate pace. Additionally, sales are down 23.9% with 1,403 homes sold last month.

Key Stats:
** Inventory increase of 160.8%
** 1,774 homes pending sale
** Sales down 23.9% last month at 1,403 homes sold
** Median time on market was 7 days

Buyers– this is your time to shine! This is the best buying environment we’ve seen the onset of the pandemic! There are more homes to choose from and less bidding wars. We have been seeing some seller concessions and agreements to inspection item repairs (unheard of at the height of the frenzy). 

Sellers– we’ve seen a sharp increase in listings but also a decline in buyer activity. Don’t wait too long or you’ll have even more competition! 

Worried about rates? We have some programs that may have options to lower your rates! Historically speaking, these are still great rates! If you give us a call, we can help find the best strategy for your particular situation. 

As a local realtor of 30 years, and a Forest Meadows resident, we would be honored to help you buy or sell. If you would like a FREE home analysis, please contact us and we would be happy to help 
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