If you're considering buying or selling real estate in Monument or Palmer Lake, this update will give you the latest insights to help guide your decisions.
Monument, CO 80132
The market in Monument is showing a slight seller's advantage, with a Market Action Index (MAI) of 38. Here's what you need to know about Monument's real estate trends:
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Median List Price: $753,609
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Median Price of New Listings: $947,450
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Price per Square Foot: $232
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Inventory: Decreased to 99 homes
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Median Days on Market: 84
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Average Days on Market: 119
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Price Changes: 40% of listings saw price decreases, while 21% had price increases.
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Median Rent: $3,000
The market has cooled slightly, and inventory levels have dipped. If the MAI decreases further, this may signal downward pressure on prices, potentially shifting the market closer to neutral.
Palmer Lake, CO
In nearby Palmer Lake, the real estate market also reflects a slight seller’s advantage with a Market Action Index of 39. Here are the highlights for this area:
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Median List Price: $645,000
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Median Price of New Listings: $515,000
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Price per Square Foot: $363
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Inventory: Holding steady at 5 homes
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Median Days on Market: 126
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Average Days on Market: 127
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Price Changes: 20% of listings saw price decreases, with no increases reported.
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Median Rent: $2,250
Palmer Lake’s low inventory and stable pricing trends may keep this market in the seller’s favor, though days on market remain higher compared to Monument.
What This Means for Buyers and Sellers
For sellers, both Monument and Palmer Lake markets offer a slight advantage, but pricing your home correctly is critical, especially with some price reductions already in play. A competitive list price will help attract buyers in this cooling market.
For buyers, there are opportunities to negotiate, especially in Monument, where price reductions are more prevalent. In Palmer Lake, the low inventory may require quick decision-making if you find a home that fits your needs.
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About the Author
Nicole Strom
Nicole is a retired military spouse of over 25 years, as well as a full time Real Estate Professional serving her clients in and around Colorado Springs.
You need a REALTOR® with vast experience and knowledge of our specific market. You need a REALTOR® that genuinely cares about you and puts your needs first. You need a REALTOR® you can trust. Nicole is that REALTOR®.
