COLORADO SPRINGS, Colo. (KOAA) — The average number of days houses are sitting on the market in Colorado Springs continues to tick down.
The Pikes Peak Association of Realtors released numbers for the housing market in the Colorado Springs area for June recently, and there were a few anomalies for this time of year, according to their board president Windy Bailey.
"The fact that the number of listings on the market has gone down... just under 9 percent," Bailey pointed out. "Normally during the summer months, we see our listings increase."
While new listings was down about 8.7 percent from May to June this year, it was up about 12 percent compared to June of 2024.
"The other big number that jumped out was that our days on the market continue to decrease," Bailey added. "We're down to 40 days on the market. And I think when we did our very first interview, we were at 67 days on the market. So it's very confusing. The numbers are inconsistent. They don't really make sense. We still don't have a whole lot of buyer confidence, but sellers seem to want to be getting out from underneath their houses, which is odd, because most of these sellers have low interest rates."
Bailey offers advice to buyers in the current market.
"They can ask for more, but not ask for too much," Bailey said of buyers. "I think that this is an opportunity for buyers to ask for what they want, instead of offering stuff to the sellers to choose their offer, because we're not seeing a ton of multiple offer situations... they do exist, but it's not the norm the way that it was a couple years ago."
Bailey also pointed out that she believes Realtors are educating sellers well in this market.
"I think the biggest thing is, is being flexible, pricing the home correctly, not being overly confident that they're going to get top dollar for their home," Bailey said to sellers. "Knowing that they need to have flexibility."
PIKES PEAK REGION June NUMBERS
New numbers were released this week for the Colorado Springs area by the Pikes Peak Association of Realtors. Some highlights from the latest PPAR report, which pulls from PPMLS data, can be viewed below:
AVERAGE NUMBER OF DAYS ON THE MARKET: 40 in June, compared to 49 in April. In June of 2024 the average was 32.
NEW LISTINGS FOR SINGLE-FAMILY HOMES: 1,869, down about 8.7 percent compared to June, which Bailey pointed out is not typical.
TOTAL ACTIVE LISTINGS FOR SINGLE-FAMILY HOMES: 4,055, which is a 10.5 percent increase compared to May and a 36.3 percent increase compared to June of 2024.
MEDIAN SALES PRICE: $500,000 in June, which was the same as April. In June of 2024 the median sales price was $499,000.
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