Will your Colorado Springs house be worth less in 2024? If you’re thinking about selling your home this year, you might be worried about how high inflation, high interest rates, and tough economic conditions could impact your home’s value.
In this post, our team at Your Home Sold Guaranteed Realty - Barb Has the Buyers Team will share how home prices are expected to change in 2024. We’ll also cover how much homes in Colorado Springs are worth now, as well as which factors affect home valuations.
Key Takeaways:
- Home prices have already increased since the previous year, with the average sales price up by 4.2% in 2024. This increase shows that Colorado Springs homes are increasingly worth more as buyers keep entering the market.
- In recent months, the median sale price in Colorado Springs was $440,000, a 1.3% increase from the same point a year ago.
- Most homes sell for 1% below the asking price, while the hottest homes sell for 1% above their asking price. In addition, 24.7% sell above their asking price.
Will Your House Be Worth Less in Colorado Springs in 2024?
In 2024, home prices in Colorado Springs have risen substantially since 2023. Combined with inflation, interest rates, and other economic difficulties, this has made it hard for buyers in the area to find affordable housing.
However, high prices and interest rates have not deterred buyer demand. For this reason, home prices are expected to remain high and continue increasing, though at a slower rate than before.
Prices have already increased since the previous year, with the average sales price up by 4.2% in 2024. This increase shows that Colorado Springs homes are increasingly worth more as buyers keep entering the market.
Nationwide, many buyers and sellers are concerned about a potential housing market crash bringing down home values. But while values have the potential to decrease this year, they wouldn’t do so drastically. In fact, some experts predict home prices will continue to increase across the country.
How Much Are Homes Worth in Colorado Springs Now?
In recent months, the median sale price in Colorado Springs was $440,000, a 1.3% increase from the same point a year ago. The average price per square foot is $209, which is a 2.7% increase from last year.
Most homes sell for 1% below the asking price, while the hottest homes sell for 1% above their asking price. In addition, 24.7% sell above their asking price, and 26.5% of homes experience a price drop at some point after being listed.
Connect with Buyers and Sell Your Home Fast With Our Team
To find out how much your Colorado Springs home is worth in 2024, reach out to Barb Schlinker and our entire team at Your Home Sold Guaranteed Realty - Barb Has the Buyers Team today. We have been in the real estate business for 27 years, and we’ve helped many clients sell their houses fast and for top dollar.
One reason we can 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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