Grok The Market

As we hit the midway point for June 2023, here’s where we stand: What does all of this mean for the market? Inventory is keeping prices from falling. This is likely to remain the case so long as the Fed continues backstopping the market and the demand there is out there doesn’t fall off. TLDR; […]

Cash is king, the mantra goes. But is it true? Let’s take a look at Colorado Springs year to date. What you see below is the breakout of purchase types by number of sales and their closed to list price ratios. The way to read this is as follows: Cash is commanding a 1.75% discount […]

The average price for May 2023 was down 3.49% from May 2022 in the Pikes Peak region. What you see below is the year over year gain / loss since 1996. This is the first down May since 2014.

As we enter into the last week of May 2023, we are tracking at 67.9% of last year’s sales numbers for the same period of time (May 1st through 24th). It’s likely we will close at 2013 – 2014 levels. We are also selling about -3.35% for average home prices. I honestly expected a bigger […]

Here’s a look at the last ten years in the Colorado Springs region. What you see here is a look at the number of sales and the average pricing over that same period. We are tracking around 2015 levels of activity right now.

Here’s a quick look at the last five years worth of sales in the region. This is the month to month number of sales for the last 60 months. It’s a rough year for agents, sellers and lenders. Buyers, too, though those that can afford to buy have a lot more choice. Here is the […]

April 2023 has seen the largest drop in number of sales since at least 1996. We are tracking about 35.8% down from last April. The price drop from last year is -5.59%. This begs the question…why aren’t prices falling? Inventory. The low inventory is helping hold the floor against price drops. What’s next? All things […]