If you do, you might miss out on the home you're looking to buy - especially if you're shopping in the $300,000-or-under price range.
Demand for single-family homes - particularly in less-expensive neighborhoods - was red-hot during the first quarter in Colorado Springs and surrounding El Paso County, according to Pikes Peak Association of Realtors figures. Prices followed suit, with many areas seeing double-digit percentage increases from a year earlier.
As a result, Colorado Springs ranked No. 12 in April on the National Association of Realtors' list of the nation's 20 hottest real estate markets, based on the speed at which homes are selling.
"You'd better do it now," Harry Salzman, of Salzman Real Estate Services and ERA Shields Real Estate, said of buying a home. "Prices are going to go up."
Want a few examples? Data compiled by the research arm of the Realtors Association show:
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Improved home sales in the Pikes Peak region have bucked the national downward trend, according to figures from the Pikes Peak Association of Realtors and the National Association of Realtors.
In the Pikes Peak region, sales of single-family homes increased to 870 in February, up from 849 in January. Condominium sales also increased, to 131 from 107 for the same time period, the PPAR reported. Likewise, total sales year-to-date has continued its upward trend, from 1,168 in 2014 to 1,353 last year to 1,719 this year.
February was the 19th straight month of increased local residential real estate sales, said Realtor Harry Salzman.
“The spring buying season has not yet really begun, but you wouldn’t know if from all the recent activity,” Salzman said in his bi-weekly newsletter. “If you are considering selling to trade up or move to a new neighborhood, the sooner you start the better.”
Continue reading at the Colorado Springs Business Journal...