What can you expect from our Colorado Springs Market in 2018?
According to the Federal Housing Finance Agency, home prices have risen in every region of the US over the past year, and Colorado Springs isn’t an exception to this. We’ve seen home prices rise 8.4% over the past year. Home values are projected to rise between 3.7% and 4.1% in 2018.
We’re seeing a larger demand for homes in the $200,000 to $500,000 price range, which means lower inventory. When we have such a large demand, we’re in a seller’s market, meaning sellers have the advantage of receiving multiple offers and potentially getting more money than they asked for. If you’re looking to sell your home, now is the perfect time.
This slight slowdown in home appreciation is the result of a normal, healthy real estate market. Interest rates are still low, and as we start 2018, many people are wondering what will happen to interest rates. We may see them rise slightly, but they’ll still remain very low.
As a whole, we’re seeing a great, healthy, booming real estate market in Colorado Springs. If you’re a seller, 2018 is a great time to list your home. You might be surprised what your home is actually worth, so if you’d like a free home valuation, check out our website or give me a call.
If you’d like to know more about our current market or would like a free real estate consultation, don’t hesitate to reach out to me. I’d be happy to help you.