Hey Friends,
I have 5 fun facts for you today. I hope you have a great weekend!
Blessings,
Andrew
Fun Fact 1:
In Colorado Springs, December finished with a 23.3% increase in months supply of inventory when compared to last year. This data point was down 5.1% when compared to what we saw last month.
Source: Land Title Guarantee Company
Fun Fact 2:
December listings saw 59 days on the market, on average in Colorado Springs. This was an increase of 15.7% when compared to last month and an increase of 31.1% when compared to last year at this time. Last year, listings saw 45 days on market, on average.
Source: Land Title Guarantee Company
Fun Fact 3:
Finally, here in Colorado Springs December saw the percent-of-the-closed-price-to-list-price at 97.5%. This data point was up slightly MoM (0.1%) and YoY (0.4%).
Source: Land Title Guarantee Company
Fun Fact 4:
This home recently hit the market a few days ago at $200k in the Rockrimmon area. This was one of the lowest priced homes in the entire state. 2 days later the price went up to $399k, which is still nearly $200k below market value. This highlights how pricing strategies can sometimes cause a lot of confusion in the marketplace.
Source: Pikes Peak MLS
Fun Fact 5:
The Milken Institute released its annual “Best Performing Cities” report Tuesday, naming Colorado Springs No. 5 in its nationwide analysis that maps economic growth across the United States. This is the highest ever placement for Colorado Springs in the Milken report and the highest in the state. The city’s previous highest ranking was No. 9 in 2022. In 2024, Colorado Springs placed No. 15 and was No. 37 in 2023. (The Milken Institute’s yearly rankings highlight U.S. cities with job growth, affordable housing, economic equality and other big draws.)
Source: CRE Daily; Milken Institute (Hat tip to Trevor Shakiba for sharing with me.)
Quote I’m pondering:
“Be at war with your vices, at peace with your neighbors, and let every new year find you a better man.” – Frequently attributed to Benjamin Franklin
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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.
