Good morning! As we roll into June 2024, let’s take a quick look at the market for the Colorado Springs region.

We leave May ’24 with a median price of $465K, down $5K from April 2024 but up $10K from May ’23. Our average price is $532K, down $5K from April 2024 but up app. $18K from May ’23. That’s the micro. Macro, we have more homes actively for sale than we have since May 2015 and sales volume is about 2013 levels.

What does this mean?

Historically, this has meant a lot of downward pressure on pricing. However, we are seeing them hold right now. Here you can see we’ve seen a 3.4% increase in prices over last May.

Will this trend hold?