The Colorado Springs MLS trends data for April 2021 is out. Comparing year over year (April 2020 to April 2021) is better than comparing the previous month, because we have defined seasonality trends.
Key Takeaways from April 2021 vs. April 2020
We are seeing some historic stats in the Colorado Springs market. Currently, the average time on the market for a home is 9 days, down from 20 days at this time last year. Inventory is up about 100 units from March, to around 450 active listings. While this is good news, there were 1275 active listings in April of 2020. The market is tight right now, but we’re still making deals and getting our clients under contract.
For May, we have 5 clients under contract, which shows that we are still able to find good properties. My advice is to be patient and expect to have to put in 5-6 offers before going under contract. It will take a little longer to find a property or have a successful offer, but if you take time to analyze and see what works for you, you’ll be able to find a good deal.
New Format for Monthly Market Updates
These monthly market updates are part of a new series we’re launching on YouTube called Drinks and Deep Dives with Chris Lopez. In it we cover
- Networking and learning with local experts
- Market updates
- Deal analyses
You can find the podcast for this market update within that podcast episode called New Show! Drinks and Deep Dives: Market Update, Multi Family and Office Deal Analyses. Tune in Wednesdays at noon MT to join me live for the next one.
- Listen to the podcast “New Show! Drinks and Deep Dives: Market Update, Multi Family and Office Deal Analyses” on the Colorado Springs Real Estate Investing Podcast
- Watch the YouTube video (at the bottom.)
- Read the blog post.
Colorado Springs Housing Trends April 2021
The second quarter began with a slightly downward tick in showings, although the trend is still a record-high for April over previous years. Listing agents are still extremely happy and busy, especially when seeing how this compares to last year.
How to Get Started Building Your Own Rental Portfolio
For information on how to get started investing in Colorado Springs, check out our free 2021 Colorado Springs Real Estate Investing Guide. Or sign up for our Colorado Springs deals email list to get pre-screened properties sent directly to your inbox.