The Colorado Springs MLS trends data for November 2020 is out. Comparing year over year (November 2019 to November 2020) is better than comparing the previous month, because we have defined seasonality trends.
- Listen to the podcast “#9: Colorado Springs Real Estate Trends – November 2020” on the Colorado Springs Real Estate Investing Podcast
- Watch the YouTube video (at the bottom.)
- Read the blog post. Note, the blog is an executive summary. Get the in-depth breakdown from the podcast or video.
Key points for homes in the Springs in November ’20 vs. November ‘19
HOME + CONDO Nov ’20 vs. Nov ‘19
- Days on market down from 29 to 20 days
- Under contract up from 1970 to 2240. This is the most under contract deals we have seen at end of November in a long time.
HOMES Nov ’20 vs. Nov ‘19
- New listings about the same as last year, up +2%
- Sales were +25% (!)
- Average sales price +18%; median +17%
- Months of inventory now 0.5 months (!!) vs. last year 1.4
CONDO Nov ’20 vs. Nov ‘19
- More new listings than last year, up +11%
- Sales were +38% (!!)
- Average sales price +11%; median +14%
- Months of inventory now 0.3 months (!!) vs. last year 0.9
Year to Date this year vs Year to Date last year
- Sales count +8% (homes) and 12% (condos)
- Price +13% (homes) and 10% (condos)
Source: The above executive summary is from Lon Welsh of Your Castle Real Estate.
Colorado Springs Housing Trends November 2020
The showing traffic in November was excellent compared to prior years, so we can reasonably assume the party will extend into December and probably January, too.
Great performance! Slightly lower than October but still record highs! Lots of buyer demand is still evident despite the election. No seasonal slowdown in sight yet.
YouTube Video: Colorado Springs Real Estate Trends – November 2020
Podcast (colorado-springs-real-estate-investing-podcast): Play in new window | Download (Duration: 8:24 — 9.6MB)
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