|Forest Meadows Real Estate May 2022 set new RECORD prices once again. The average price increased 20.1% to $551,000. The median price increased 18.8% to $552,385. This is the first month where the average and median prices have surpassed the $550k mark! Home prices ranged from $465,000 to $672,000 last month. |
Sales are were up over 18% last month with 13 homes sold. There are currently 9 homes for sale and 14 homes pending close.
Homes sold for 4.2% over asking price on average last month in an average of just 4 days. Real estate is still moving swiftly in our neighborhood!
To see more detailed statistics for our neighborhood, including quarterly stats, click here.
In the Pikes Peak Region, the summer market is already shaping up to be a good one, especially when analyzing some interesting statistics last month. Most notably, we have 1,355 homes for sale as of 6/1. This is an increase 132.4% over last May! We have not seen levels this high since July 2020! What an exciting thing for our buyers!
However, even with the increased inventory, prices and sales continue to rise. We still only have a 0.80 month supply of homes, which is roughly 24 days. It’s important to note that we are still considerably under pre-Covid inventory levels even with this increase. For example, in May 2020 we had 1,558 homes for sale and in May 2019 we had 1,849 homes for sale.
The median price broke the record last month and reached a new high of $487,000. The average price increased 13.1% to $554,013. Sales went up 8.9% last month at 1,689 homes sold.
Here are the key statistics last month:
* Inventory is up 132.4%
* Sales are up 8.9%
* New record median price!
* Homes are selling in a median of 4 days
* Homes sold for 3.1% over list price on average
As inventory increases, sellers will have more competition. If you are thinking of selling, don’t delay! For buyers, there will finally be some more options to choose from. However, prices are not going down and homes are still selling in less than a week. So waiting too long will still cost you.
|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