It was the first time that the median price the midpoint of all prices during the month reached and exceeded the $400,000 mark for Springs-area home sales, based on Gazette historical data.
The average price of homes that sold in February reached $454,899, also a record high and a 17.6% gain over the same month last year.
Economists and real estate agents consider the average as less reliable because it can be swayed by a few very high or low sale prices. Still, it’s another indicator that prices continue on the upswing.
A furious demand for housing and a historically low supply of properties available for purchase have combined, in large part, to propel prices higher, local real estate agents and economists have said.
Colorado Springs home prices soared again by double digits at the end of 2020, as a steady demand for housing and a shrinking supply continued to drive up costs.
Today
Sunny early then increasing clouds with showers this afternoon. High near 65F. Winds WNW at 15 to 25 mph. Chance of rain 40%. Winds could occasionally gust over 40 mph..
Tonight
Showers early, then partly cloudy overnight. Low 33F. Winds NNW at 10 to 20 mph. Chance of rain 40%. Updated: April 6, 2021 @ 4:00 am
Colorado Springs Mayor John Suthers responds to the announcement about the future home of US Space Command. (Video provided by the City of Colorado Springs)
John Suthers has plenty of economic development wins as mayor a massive Amazon distribution center and Southwest Airlines expanding to Colorado Springs to name two but he called the loss of the U.S. Space Command to Huntsville, Ala., his biggest setback. We haven t had a whole lot of economic development bad news, but this would be my greatest (economic development) disappointment Suthers said during a news conference Wednesday on the headquarters decision.
Suthers was highly critical of the decision, calling it a political favor to Alabama s two U.S. senators, who championed President Donald Trump s efforts to object to electoral votes for Joe Biden by Arizona and Pennsylvania, and Republican U.S. Rep. Mo Brooks, who represents the Huntsville area.