$4,452 Closing Credit*
$374,900
4 Beds
•4 Baths
Elizabeth Kunz SRES, Listing Office: Colorado Springs Realty
Is Palmer Park, CO a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Palmer Park has remained a Buyer's Market.
Key Takeaway
Palmer Park is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Palmer Park, CO
How much do homes in Palmer Park, CO cost?
Median Sold Price
$363,500
$261/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
-$61,500(-14.5%)
Key Takeaway
Homes in Palmer Park have sold for 14.5% less than they did a month ago.
Summary: The median home sold price in Palmer Park was $363,500 in November 2024, down 14.5% from last month, and the median price per square foot was $261.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | - | $356K | N/A |
| 4 Bedrooms | $425K | $377K | -11.3% |
| 5+ Bedrooms | $457.5K | - | N/A |
Summary: Palmer Park housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes decreased by 11.3%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Village Seven | $385K | $419K | +8.8% |
| Rustic Hills | $377K | $395K | +4.8% |
| East Colorado Springs | $410K | $402K | -2.0% |
| Palmer Park | $425K | $363.5K | -14.5% |
| Wasson | $475K | $405K | -14.7% |
Housing Supply in Palmer Park, CO
How many homes are available in Palmer Park, CO?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 24 | 30 | +25.0% |
Summary: The Palmer Park real estate market had 30 homes for sale in November 2024, a 25.0% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 10 | 12 | +20.0% |
| 4 Bedrooms | 8 | 14 | +75.0% |
| 5+ Bedrooms | 5 | 3 | -40.0% |
Summary: The Palmer Park 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 remained the same, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 75%, and 5+ bedroom homes decreased by 40%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 3 | 4 | +33.3% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Palmer Park, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 4 homes were sold or pending in Palmer Park in November 2024, up by 33.3% month-over-month. Of the 4 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.
Days on Market for Palmer Park, CO
How long does it take to sell a home in Palmer Park, CO?
Average Sale Time
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 9 Days | 43 Days | +352.6% |
Summary: Homes in Palmer Park had an average of 43 days on market in Nov 2024, up by 352.6% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Palmer Park are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 4 homes were sold in Palmer Park; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
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