COLORADO SPRINGS, CO — Everyone knows Metro Denver and the Front Range have a tight housing market, with demand for homes in the area exceeding the supply. A new study shows that this summer, Colorado Springs had a boost in sales prices with 50 percent of sellers receiving more than asking price.
Homelight.com, an online site connecting home sellers with real estate agents, reviewed the last three years’ worth of home transactions data to determine some of the country’s tightest housing markets.
"The American City Business Journal predicts the population of Denver [and the Front Range] is projected to grow by more than 50 percent in the next 25 years, meaning the population will continue to far outstrip available housing," a statement form HomeLight said.
Generally, between early spring and late summer is the best time for home sellers. According to HomeLight, sellers in the suburb of Colorado Springs are feeling the tight market.
· In 2015, the percent of homes sold above list hovered at or below 20 percent, whereas in May 2017 – the month with the highest percent of homes sold above listing – the percent grew to nearly 50.
Here are some of the newest listings in the Springs:
2425 Parkview Ln, Colorado Springs, CO 80906 $550,000
6698 John Muir Trl, Colorado Springs, CO 80927
7113 Oak Valley Dr, Colorado Springs, CO 80919
Even with the market in their favor, how home sellers price and market their homes can help them sell faster and for even more money. Things like knowing which renovations increase value the most, how to price, and advertising the home as part of an overall lifestyle can make a big difference. (Find more tips from HomeLight here and here).
See more Colorado Springs homes at Realtor.com
Image: Garden of the Gods via Pixabay