Declining sales and median selling price marked the July 2023 Pueblo real estate market.
In comparison to June sales the number of homes for sale increased from 678 in June to 707 for the month of July. The months of inventory climbed to 3.1 versus 2.9 in June. Asking price to selling price remained relatively steady but an overall decrease in the median selling price dropped to $305,000 in July versus the $326,00 in June. This represents a 6.2 decline in home prices. For comparison, the median selling price in January 2023 was $295,000. Increasing inventory and rising interest rates are mainly to blame for the slide in home prices from the previous month.