As a new service in 2024, we will be providing a complete list of monthly market statistics for El Paso County and/or particular zip codes. If you’re interested in receiving this monthly stat report, please email [email protected]
Overall, the El Paso County real estate market cooled in October, showcasing higher-than-normal inventory levels and longer days on market when compared to recent trends. After the much-anticipated October Fed rate drop, mortgage lenders have reported an uptick in mortgage rate shopping; however, anecdotally we hear that local real estate professionals have not yet seen this translate into more home sales. A few potential variables that may be keeping buyers from purchasing include the upcoming election, seasonality as the real estate market heads into winter with the holiday season, as well as anticipation of further rate reductions to come.
Key highlights are below.
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Active listings were down 4.0% when compared to last month but jumped 32.7% when compared to last year at this time. Last year saw 2,188 active listings.
Pending properties - indicating demand - were up 0.9% month over month and increased 13.5% when compared to last year at this time. Last year saw 591
pending units.
October saw inventory increase by 12.1% when compared to last year. This data point was down 5.1% when compared to what we saw last month.
October saw the percent-of-the-closed-price-to-list-price at 97.9%.This data point was equal to what we saw both last month and last year.
This data point was up 1.1% when compared to this time last year, and up slightly (0.4%) when viewed month-over-month.
If you would like to have our monthly stats for your zip code, please email [email protected]. Stats are released on the 15th of each month. If you would like to be taken off further mailings in area code 80919, email [email protected] with the subject: Remove from Mailing list. We understand that most of you have agents or are not in the market to sell.
With our extensive knowledge and commitment to providing only the best and most timely information to our clients, we are your go-to source for real estate industry insight and advice. Buying or selling a home is more than just a transaction: it’s a life-changing experience. Feel free to contact us for all your real estate needs.
