Venterra Real Estate agents are talking with a lot of seasoned and beginner real estate investors and they’re all asking the same question. Is this the top of the real estate market? Are prices about to head lower? With the world in a pandemic with COVID-19, the uncertainty of what the Colorado Springs real estate market will look like is on the minds of many Colorado Springs real estate investors.
Over the years Colorado Springs has seen major growth giving investors a huge return. The first rule to investing is protecting equity, but can the market move higher? Let’s first look at the facts.
Low supply is one major factor that will keep home prices rising in Colorado Spring. As of April 2020 we had 1.3 months of active inventory for sale in El Paso and Teller County. 1.3 months of active inventory makes the Colorado Springs real estate market a seller’s market. In a seller’s market we can expect to see home values rise.
Less inventory is being created by a couple factors. One major issue is if you list and sell your home, you will now need to compete with all the other buyers. Not the ideal circumstance with a contingent sale. Second factor effecting inventory levels is COVID-19. The pandemic is keeping less people from listing their house. Once the COVID-19 pandemic is in the rear view mirror we might see more homes hit the Colorado Springs market. But we don’t have a crystal ball, we will have to wait for the storm to pass before we see a clear picture of how the Colorado Springs real estate market makes it through.
Colorado Springs is Unique
If you live in Colorado Springs you’ll know how many military bases, military contractors and heath care jobs we have here. This is what makes Colorado Springs unique to other geographical areas in the country. Our growth in industry, jobs, infrastructure and population show no signs of slowing.
All of this will keep demand on our low supply of inventory.
Venterra Real Estate anticipates home prices will continue to rise, and Colorado Springs real estate investors should hold on to their portfolio is they can. This is just our optimistic outlook on our local economy, anything can happen. But if supply remains low and demand stays high, home prices will continue to move up.
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