"Active listings in Colorado Springs hit 1,956 homes in February, up 20% from a year ago, significantly exceeding the national growth rate of 7.9%. This surge in supply has given buyers more leverage in negotiations."
"The median list price in February was $459,925, unchanged from a year ago, but 20.5% of active listings had price cuts, indicating that sellers who overprice their homes face challenges in a crowded market."
"Homes in Colorado Springs spent an average of 53 days on the market in February, which is 6.2% faster than the previous year and significantly lower than the national median of 70 days, demonstrating strong demand for well-priced homes."
In February, Colorado Springs experienced a significant increase in housing inventory, with active listings up 20% year-over-year. New listings rose nearly 23%, providing buyers with more choices and negotiating power. The median list price remained stable at $459,925, but over 20% of homes had price reductions. Homes sold faster than the national average, with a typical home spending 53 days on the market. Sellers who priced their homes correctly benefited from quicker sales, while overpriced homes faced longer market times and price cuts.
Read at SFGATE
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