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]
As the summer selling months pass into the rearview mirror, months of inventory in the MLS and time on market continued to grow in August when compared to last year and last month. New listings saw a 9% increase when viewed year over year, with active listings seeing a nearly 30% increase. Average prices decreased slightly month over month for both single family homes and attached homes, but rose when viewed year over year.
Anecdotally, we hear that it is critical for listing agents to set expectations and develop a strong strategy with their sellers. Well-priced homes in desirable neighborhoods with limited deferred maintenance continue to sell, whereas some listings may sit longer before attracting strong traffic and going under contract.
Active listings were down 0.7% when compared to last month but jumped by nearly 30% when compared to last year at this time. Last month saw 2,847 active listings.
Pending properties were down 0.4% month over month and increased 3.7% when compared to last year at this time. Last year saw 729 pending units.
August saw inventory increase by 43.5% when compared to last year. This data point was up 10% compared to what we saw last month.
August saw the percent-of-the-closed-price-to-list-price at 98.4%.This data point was down 0.6% compared to what we saw 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.