Colorado Springs real estate trends: Home prices rise as inventory drops

COLORADO SPRINGS, Colo. – Homes in Colorado Springs are selling for more at the beginning of 2017 than just about any time during the previous 12 months, according to data from the Pikes Peak Association of Realtors.

The median sale price of a single family home last month was $265,000. That represents an 11.8 percent increase over January 2016 and ties 2016’s high, which occurred in August.

At the same time, the number of houses on the market decreased, according to the report. The number of new listings was down 13 percent year-over-year while total active listings were down 13.3 percent.

It’s a similar scene in Denver, which saw a 9.9 percent increase in home prices compared to this time last year, according to a report from CoreLogic.

The upward trend isn’t isolated to just Colorado Springs or Denver, however. CoreLogic reports Colorado’s statewide year-over-year appreciation rate of nearly 9 percent put it in the top five among states with the biggest increases.

CoreLogic predicts that trend will continue in Colorado and around the country through 2017.

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