The Colorado Springs MLS trends data for September 2021 is out. New listings went down a bit compared to last month, but we’re still ahead of where we were this time last year. Active listings are up to 961 compared to last month’s 844, which shows that things are staying on the market longer and providing a little more breathing room. The average per unit price of multi family properties is up 27% compared to September 2020, and rent has gone up 22% since the start of the pandemic. People are taking advantage of cheap debt and trading up into bigger assets.
With inventory so low, it’s hard to find an amazing deal, so you have to adapt to what the market is giving you. Right now, the market is giving you cheap debt, so that’s where you should pivot.
- Listen to the podcast “#55: Colorado Springs Real Estate MLS Market Stats – September 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.
Key Takeaways from September 2021 vs. September 2020
- Number of new listings continues to be higher than last year
- Sales count this year is 10% ahead of last year, but September 2021 was really similar to September 2020.
- Prices up 15% for homes and 20% for condos
- Still at 0.3 MOI (months of inventory)
Source: The above executive summary is from Lon Welsh of Your Castle Real Estate.
Colorado Springs Housing Trends September 2021
Colorado Springs in September was pretty close to August performance. At 10 showings per active listing, it was a bit above the historical average (around 7-8) but a bit below the super-heated performance in 2020 (11 showings). About as expected and consistent with the impression that the market is gradually slowing down a little.
Normally the best time to list a house is in the spring, and the fall is a slower time (so it’s better for buyers). This season that is true, but the slowdown is less than we’d historically expect.
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.