TUESDAY REAL ESTATE NEWS for the week ending february 5th 2024
REAL ESTATE MARKET WATCH WEEK ENDING FEBRUARY 5TH 2024
THIS IS FOR THE ENTIRE PIKES PEAK MLS TO INCLUDE SINGLE FAMILY HOMES, PATIO HOMES, CONDOS AND TOWNHOMES.
Let's talk about new listings for this week. We had 261 new active listings. 52 homes came back on the market. This gives us 313 new active listings for this week.
This week we have 136 homes under contract, 181 pending for a total of 311 homes off the market. This brings us to a negative in inventory by -4 this week.
Price decreases were at 186 this week.
Withdrawn-16, cancelled-71 and expired-51 which leaves us with another 85 homes off the market this week.
Now the most important aspect of this is the homes sold last week 160. Homes sold this week were at 238 which gives us plus +78 week over week.
Check out Will Michaloski Interest Rate Update from VIP Mortgage:
Rates are about the same as last week even though the first part of the week showed the market improving. The fed meeting this week had Jerome Powell saying that the data does not show enough reduction in inflation yet to see a rate cut in March. Then today we got the first Job numbers of 2024 and there were almost twice as many jobs created as expected. The market is reacting giving back the gains that we saw earlier in the week because stronger than expected job numbers could be a lead indicator that inflation could tick up a little.
Check out this weeks activity on Single Family and Patio Homes located in El Paso County and Teller County Colorado for the week ending Febraury 1st 2024. All active Single Family and Patio Homes 1,333 thats down by minus 68 week over week. Sold Single Family and Patio Homes in El Paso and Teller Counties 141 thats plus 48 week over week.
Check out this weeks activity for Condos and Townhomes located in El Paso and Teller Counties Colorado. All active Condos and Patio Homes are at 312 thats minus 4 week over week. All sold Condos and Townhomes El Paso and Teller Counties this week are at 22 thats Plus +5 week over week.
Homes available for sale located in Autumn Heights Colorado Springs Colorado 80906