The Colorado Springs MLS trends data for August 2021 is out.
The data changed slightly this month as things are finally starting to stabilize and go back toward seasonality and normal market trends. For the first time this year, monthly showings dropped and even dipped below 2020’s showings per unit. The number of listings is down nearly 200 units, and the median sales price went down $10K compared to the previous month, from $450K to $440K.
If we compare year over year instead of month over month, you can see that the trends are leveling off. While some people might see these numbers and feel concerned, this is to be expected because the rising prices were unsustainable in the long run. This is a sign that the buying frenzy is dying down and we’re returning to normal sales.
- Listen to the podcast “#51: Colorado Springs Real Estate Trends – August 2021” 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.
Colorado Springs Housing Trends August 2021
In Colorado Springs, the year started at about 2x the historical average. After peaking in February, it’s been slowing down every month. We had 10 showings / active listing in August. That’s a little above the historical norm (2017-2019) of 8 but not bad. It’s a little less than the very hot market (for August!) we had in 2020. Overall, I see this trend as very healthy; the market is continuing to cool down in a controlled and orderly fashion.
How to Get Started Building Your Own Colorado Springs Rental Portfolio
For information on how to get started investing in Colorado Springs, check out our free 2021 Colorado Springs Real Estate Investing Guide.