Hey Friends,
I have 4 fun facts for you today featuring our local market.Ā IĀ think the 3 sales stats are similar to many markets around the country right now. Ā Let me know what you think.Ā Have a great weekend!Ā Ā
Blessings,
Andrew
Fun Fact 1:Ā
Supply – Active Listings in Colorado Springs
Active listings were up 1.2% when compared to last month and jumped 26.9% when compared to last year at this time. Last year saw 2,893 active listings.
Source: Land Title Guarantee Company
Fun Fact 2:Ā
Months Supply of InventoryĀ in Colorado Springs
July saw a 13.9% increase in inventory when compared to last month. Last year at this time we saw 3.1 months supply of inventory.
Source: Land Title Guarantee Company
Fun Fact 3:Ā
Percent of Closed Price to Original List Price in Colorado Springs
July saw the percent-of-the-closed-price-to-list-price at 98.4%.This data point was down MoM (0.5%) and down 0.6% compared to last year. Commentary: This is precisely the problem right now. Ā Sellers remainĀ unwilling to drop price, causing a gigantic stalemate in the market.Ā
Source: Land Title Guarantee Company
Fun Fact 4:Ā
The Health and Social Assistance service sector continues to dominate the job market here inĀ El Paso county. Ā TheĀ Transport & Warehouse sector has growth 112% since 2018.
Source: Data Driven Economic Strategies – El Paso County Economic & Workforce Progress Report
Quote I’m pondering:
“Buy real estate when other people want to sell.” -John Jacob Astor
Thanks again for reading. Subscribe HERE to get this delivered to your inbox so you never miss a read.
Disclaimer: All information provided is for educational purposes only and does not constitute investment, legal or tax advice, an offer to buy or sell any security, or to buy or sell real estate property. Read our full disclosures HERE.