Is 80816, CO a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 80816 is a buyer's market

Buyer's
Market

Difference Since November 2023

Since last year, 80816 has remained a Buyer's Market.

Key Takeaway

80816 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 80816, CO

How much do homes in 80816, CO cost?

Median Sold Price

$482,750

$287/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

-$36,000(-6.9%)

Key Takeaway

Homes in 80816 have sold for 6.9% less than they did a year ago.

Summary: The median home sold price in 80816 was $482,750 in November 2024, down 6.9% from last year, and the median price per square foot was $287.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 -$289.5K
N/A
2 $439K$377K
-14.1%
3 $500.7K$542K
+8.2%
4 $590K$535K
-9.3%
5+ -$2.0M
N/A

Summary: 80816 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 14.1%, 3 bedroom homes increased by 8.2%, 4 bedroom homes decreased by 9.3%, and 5+ bedroom homes did not change.

Housing Supply in 80816, CO

How many homes are available in 80816, CO?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
117125+6.8%

Summary: The 80816 real estate market had 125 homes for sale in November 2024, a 6.8% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 44
0.0%
2 2729
+7.4%
3 6770
+4.5%
4 1515
0.0%
5+ 47
+75.0%

Summary: The 80816 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 7.4%, 3 bedroom homes increased by 4.5%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 75%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
611+83.3%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 80816, you may be able to get a good deal. 72.7% of homes here sold below asking price last month.

Summary: A total of 11 homes were sold or pending in 80816 in November 2024, up by 83.3% month-over-month. Of the 11 sold homes, 73% were sold under asking, 18% were sold at asking, and 9% were sold over asking.

Days on Market for 80816, CO

How long does it take to sell a home in 80816, CO?

Average Sale Time

Nov 2023Nov 2024CHANGE
2 Days67 Days+3272.7%

Summary: Homes in 80816 had an average of 67 days on market in Nov 2024, up by 3272.7% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 80816 has remained consistent over time.

Summary: During November 2024, 11 homes were sold in 80816; 18% of homes were sold within 30 days, 55% of homes were sold within 30 to 90 days, and 27% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 21 Days Ago

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Based on information from Pikes Peak MLS / Colorado Springs Realtor Services Corp., and REColorado for the period 12/01/2022 - 12/01/2024

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