Problem: There Aren’t Enough Houses

Dated: March 30 2021

Views: 196

As of today, there are currently 235 single family homes on SALE in the El Paso County, Colorado Springs.

The numbers aren't getting better despite the fact that we've entered into Spring -- when more homes are supposed to pop up. According to Gazette's historical data, this has been the fewest number of homes on the market for any month since the last 25 years.

The demand is strong-- fueled, in part, by historically low mortgage rates and an influx of newcomers coming to Colorado Springs

According to Realtor's Association, data finds:

- For the first few months of 2021, the number of homes for sale (average 400) represents a one-half month supply. What does that mean? The inventory of homes would be exhausted in about 2 weeks if the number of new homes don't come on the market. Seeing our numbers today, homes are being exhausted faster.

- Homes' average day on market was 17 days in January 2021, whereas in the year prior of January, homes were on the market for an average of 30 days.

It's a rough time for buyers. It's little to choose from and competition like no other. Especially if you are looking in the mid-range. So would you wait it out if you could? Most experts recommend buying a house if you plan to stay there at least five years. That way you can build enough equity so that when you do sell you don't end up owing money after the sale. Weigh your pros and cons. If you are ready and willing to go to war, contact me so that we can best equip you for success. If you're a seller, you're at the right place. Reach out to see how I can get you top dollar in this market.

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Jennifer Lee

Jennifer is perseverant, honest, and possesses solid interpersonal skills to bring the best service for her clients. She makes sure to strike the “right balance" by empowering her clients with infor....

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