Today we’re gonna check out how May’s market update went and get some numbers for that and it starts right now Hey, what’s up everybody. It is Mark Hubert with my Front Range living powered by Remax integrity here in Colorado Springs So hey numbers for May are in for the Pikes Peak MLS area so the Greater Pikes Peak region for the Association of Realtors is Has gotten all the numbers in for me and here they are There were seventeen hundred and eleven sales Last month, which doesn’t sound like a whole lot. But when you consider that the active listings were 2,700 you’re looking at an active ongoing inventory of a thousand homes 1,000 homes are rolling over into June active and man. That’s just not enough. So we are very much still in a seller’s market If you are out there looking so is everybody else? so there were twenty seven hundred and thirty five homes active last month and Don’t worry about them. They’re doing some work. I’m at the office today. And yes, this is our office courtyard. Life does not suck So don’t worry about them. Just listen to me. Are they playing music? That’s awesome This is the best day ever man See and this is exactly why you have to do videos outside because inside you don’t get this kind of quality It’s a nice contained environment in the office. This is way more fun anyway One thing that really shocked me about our market in May is the average days on market to average days to close For those of you scoring at home, if you ever been part of a real estate transaction 30 45 60 days Those are kind of the benchmarks that we have and the average days was anywhere between 25 and 29 From day from the time it went on the market to the time that it closed So not only are homes going quickly homes are closing quicker Which means buyers are coming in very well qualified and they are able to push the process through and that makes it really desirable a lot of times for a seller because they Can pull the equity out of their house much faster than they originally anticipated. So again in working with your agent if you’re trying to be aggressive It’s going to be important maybe to see if a quicker close is something that the seller is looking to do Average sales price of a home. We are inching our way up in Colorado Springs It’s gone from 350 at the beginning of the year. We are 358 is The average sales price in May so 358,000 again Indicative of that six to eight percent return on investment year over a year for home sellers so again if you’re looking to sell your home a Fantastic time to do it If you’re looking to buy you just need to make sure that you have an aggressive plan with your agent as you’re going out there At the end of the day the bottom line of the market update for May 2019 is the fact that it’s very much still a seller’s market So if you’re looking to sell your home, it’s a fantastic time to do it If you’re looking to buy a home, make sure that you are being aggressive in doing so if you need some help in Ideas and a plan of what that may look like feel free to give us a call or hit us up at mark at my front range living.com or seven one nine six eight five six nine six four Again mark with my Front Range living powered by Remax integrity here in Colorado Springs. Thanks for checking in. We’ll see you soon Hey, so one thing I forgot Amber’s gonna edit this in here in just a second because I spaced it out because there was noise and music and other stuff over there in the courtyard and I you know have ADHD and squirrel so One big thing. You need to know about the market as well is the fact that Homes are going 100 percent sales price to list price which basically means People are listing it and that’s what they’re getting. So if I’m less than a house at 358
that average sales price Our buyers are going to pay 358. Our sellers are going to get 358. It’s a 100 percent Sales to list price right now, and that’s a big big deal again It just proves that you have to have an aggressive game plan if you are a buyer I am sorry that I forgot that part. I’m not sure where amber is gonna edit it into the video But that’s my fault and so now you can go on with the rest of the video or we can end it however amber chooses to do it bye!