Real Estate Stats for Forest Meadows August 2020 show sales were up substantially! 19 homes were sold in August, an increase of 111.1% over last year. Not to mention, there are currently 17 homes pending sale as of September 1st. We have sold 103 homes year-to-date in Forest Meadows & The Trails.
The average price last month was $397,505 which is up 6.67%. The median price of $395,000 is up 2.6%.
Homes are still selling in average of 11 days, so less than 2 weeks! Homes sold in August ranged in price from $345,000 to $470,000 and the average home size was 3,015 square feet.
Most notably, for the Pikes Peak Region as a whole, our inventory keeps shrinking. As of September 1st, there are only 1,095 homes for sale, down 50.1% from last year! Essentially, we have half the number of homes for sale right now compared to the same time last year. This equates to only a 0.62 month (or 19 day) supply of homes, making it the lowest supply we have ever seen. There just aren’t enough homes for sale to keep up with buyer demand! There are 2,614 homes pending sale as of 9/1.
The competition for buyers keep growing due to lack of inventory and historically low interest rates. But did you know that you can afford more home now than ever before?
We need more listings for our buyers! If you have been debating on selling, NOW may be the time! There is much less competition, plus a high demand. Please reach out to us so that we can help you come up with the best strategy for your situation!
To see more detailed information, please visit our Market Conditions page.
Please give us a call whether you are thinking of buying or selling!
Rick Van Wieren (719) 331-7675
Mary Barkley (719) 421-9360