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Monthly Archives: January 2017
Is cash king in Colorado Springs?
There’s a common perception that, “Cash is King.” By this, it’s meant that cash tends to command a large discount.
Is that true in Colorado Springs?
Statistically not in December 2016.
There were 1,309 MLS listed sales for the month in the Pikes Peak Multiple Listing System (PPMLS) last month. Of those, 146 were cash. Of those 146, the average closing price to list price ratio was 98.3%.
Contrast that with VA loans for the same month, where the ratio was 100%.
Cash in December 2016 commanded a 1.7% discount.