Should you sell your Colorado Springs house in 2024? If you’re thinking about selling your home this year, you might be wondering what market conditions to expect. That way, you can make informed decisions, sell your home fast, and earn top dollar.
In this post, our team at Your Home Sold Guaranteed Realty - Barb Has the Buyers Team will discuss whether you should sell your house in 2024 or hold off. We’ll also share some recent metrics about the Colorado Springs housing market.
Key Takeaways:
- Colorado Springs home prices have increased significantly between 2023 and 2024, making it hard for buyers to find affordable housing.
- Demand for homes in Colorado Springs is still high, which has kept prices up and inventory low. More recently, the supply of homes has started gradually increasing.
- The number of listings in Colorado Springs increased by 6.7%. This increase shows that the market is experiencing positive growth, especially compared to previous years.
- In recent months, the median sale price in Colorado Springs was $440,000, which is a 1.3% increase from the same point a year ago.
Should You Sell Your House in 2024 in Colorado Springs?
Colorado Springs home prices have increased significantly between 2023 and 2024, making it hard for buyers to find affordable housing. This is on top of high interest rates and other economic difficulties that buyers are facing. However, high prices and interest rates have not deterred buyer demand.
Demand for homes in Colorado Springs is still high, which has kept prices up and inventory low. More recently, the supply of homes has started gradually increasing as market conditions become more favorable.
This improvement in conditions has led to more sellers choosing to list their homes in 2024– at the start of the year, the number of listings in Colorado Springs increased by 6.7%. This increase shows that the market is experiencing positive growth, especially compared to previous years.
On top of the increase in listings, new home builders are adding more new construction properties to the market.
The high demand, high prices, and low supply indicate that Colorado Springs is a strong seller’s market. Overall, this means that 2024 could be a good time for you to sell your home, especially as interest rates decrease and more buyers decide to enter the market.
What is the Housing Market Like in Colorado Springs?
In recent months, the median sale price in Colorado Springs was $440,000, which is a 1.3% increase from the same point a year ago. The average price per square foot is $217, which is a 3.8% increase from last year.
On average, homes spend 49 days on the market before selling. The hottest homes sell after 18 days on the market.
Most homes sell for 1% below the asking price, while the hottest homes sell for 1% above their asking price. In addition, 29.3% sell above their asking price, and 26.4% of homes experience a price drop at some point after being listed.
Sell Your Colorado Springs House in 2024 with Barb Schlinker
At Your Home Sold Guaranteed Realty - Barb Has the Buyers Team, Barb Schlinker and our entire team have been in the real estate business for 27+ years. We’ve helped many clients sell their houses fast and for top dollar.
One reason we’re able to accomplish this is our Guaranteed Sale Program, which guarantees the sale of your home within your timeframe and for the best possible price. With this program, we can ensure your home sells successfully in 2024.
To learn more about working with us to sell a house in Colorado Springs, call 719-301-1802 or fill out the form on this page. Take the first step to sell your house fast today!
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