Is Penrose-Portland, CO a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Penrose-Portland is a buyer's market

Buyer's
Market

Difference Since Last Month

Since last month, Penrose-Portland has remained a Buyer's Market.

Key Takeaway

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

Housing Prices in Penrose-Portland, CO

How much do homes in Penrose-Portland, CO cost?

Median Sold Price

$354,000

$307/sqft

Based on all homes sold in November 2024.

Difference Since Last Month

-$101,000(-22.2%)

Key Takeaway

Homes in Penrose-Portland have sold for 22.2% less than they did a month ago.

Summary: The median home sold price in Penrose-Portland was $354,000 in November 2024, down 22.2% from last month, and the median price per square foot was $307.

Median Sold Price By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 --
N/A
2 --
N/A
3 $426.5K$354K
-17.0%
4 $455K-
N/A
5+ --
N/A

Summary: Penrose-Portland 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 decreased by 17%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Canon City
+10.7%
Penrose-Portland
-22.2%
Penrose
-22.2%

Housing Supply in Penrose-Portland, CO

How many homes are available in Penrose-Portland, CO?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
2526+4.0%

Summary: The Penrose-Portland real estate market had 26 homes for sale in November 2024, a 4.0% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 01
+100.0%
2 23
+50.0%
3 1311
-15.4%
4 78
+14.3%
5+ 33
0.0%

Summary: The Penrose-Portland housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 50%, 3 bedroom homes decreased by 15.4%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
31-66.7%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Penrose-Portland, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 1 homes were sold or pending in Penrose-Portland in November 2024, down by 66.7% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Penrose-Portland, CO

How long does it take to sell a home in Penrose-Portland, CO?

Average Sale Time

Oct 2024Nov 2024CHANGE
24 Days42 Days+70.3%

Summary: Homes in Penrose-Portland had an average of 42 days on market in Nov 2024, up by 70.3% compared to last month.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Penrose-Portland has remained consistent over time.

Summary: During November 2024, 1 homes were sold in Penrose-Portland; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% 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 17 Days Ago

Newest Listings in Penrose-Portland, CO

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