Colorado Springs Real Estate Market Report for December 2023

Here is the December 2023 real estate market report for Colorado Springs and surrounding areas:

As we wrap up the year and look back at December 2023 in the real estate market, let's take a moment to dive into the fascinating story that the numbers tell, like uncovering hidden treasures in a snowy Colorado landscape.

Starting with the median sales price, it's a bit like a seesaw in the park. In December, it dipped by 2.5% compared to November 2023 but, compared to the same time last year, it rose by 3.2%. It's a gentle reminder that the market, much like Colorado weather, has its ups and downs.

The average sales price, on the other hand, took a bit of a downhill trek in December, dropping 6.3% from November. Yet, compared to last December, it climbed up by 5.9%. It shows us that even when the path seems downhill, there's always a scenic view ahead.

In the realm of new listings, December saw 777 properties step onto the stage, a quieter crowd compared to November's lively 895. This number was also a bit shy compared to last year, down by 12.4%. It's a gentle reminder that every season has its own rhythm.

Sales in December were beating stronger, up 8.7% from August, yet they slowed down by the same rate compared to last December. It's a dance of numbers, showing us that the market is always moving to its own beat.

Now, let's talk about the days on market, which in December averaged at 46 days. This was a leisurely stroll compared to November's brisk 40-day walk. It offered buyers a chance to carefully choose their dream home and for sellers to find the perfect match for their property.

The sales price to list price ratio in December was like a warm Colorado fireplace, reaching 103.4% compared to November's 100.5%. Homes were not just reaching their asking price; they were getting a little extra blanket of value on top!

In summary, December's real estate market in Colorado Springs was like a beautifully woven tapestry, rich with detail and depth. Whether you're a first-time buyer or a seasoned homeowner, the market offered both challenges and opportunities. And as your experienced realtor team, we're here to guide you through every twist and turn of this journey. Let's make your next real estate adventure a remarkable one, filled with the joy and excitement of new beginnings!

____________________

Based on information for single-family home sales in El Paso County (and surrounding areas) from the Pikes Peak REALTOR Services Corp. (“RSC”), for DEC 2023 RSC does not guarantee or is in any way responsible for its accuracy. Data maintained by RSC may not reflect all real estate activity in the market.

____________________

Posted by: Mariana Wagner
The Colorado Home Team
719-232-1564 - Main Number
Keller Williams Premier Realty