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Colorado Springs Real Estate ExpertsNews 5 contacted us as an Expert to discuss the recent trends in the local real estate market.  I met with them and was excited to share that the market has really improved over the last 6-8 months.  Housing inventory is down by 26% in the Pikes Peak Region from this time last year.  Current inventory has been cut in half from 7,056 to 3,383 from the worst market days in 2007.  This along with an increase in sales and average price of sold homes make for the perfect storm.  We are now in a market where we are beginning to see multiple offers due to the lack of inventory.  Home sellers are getting closer to their asking price and selling quicker.  Interest rates remain a huge benefit for buyers and sellers alike.

Buying a home? - Now is a great time to buy with the historically low interest rates and bottomed out prices.  Interest rates especially!  Interest rates will continue to remain the most important factor on home affordability moving forward.

Selling a home? - Many sellers have been waiting until the right time to sell.  Now may be the time to enter the market with the lack of competition and home affordability from historically low interest rates.

Colorado Springs Market Stat Report - Aug 2011

by Alan Daniels

Colorado Springs Real Estate Market Report (Includes Surrounding Areas):

  • The Inventory is down by more than 1300 homes for sale compared to this time last year with a decrease of new homes hitting the market.  This is good news for home sellers looking for less competition.
  • Total Days on Market has gone up but still remains below the worst peaks.
  • The total number of homes sold remains consistent over the last couple years.  The good news for home sellers here is that this is being done with 1300 less homes on the market meaning a larger percentage of the available listings are selling.
  • It is still a buyer market with the prices and interest rates, but things are looking up for home sellers in the Pikes Peak Region!
  • Checkout our new Market Snapshot Report that provides customized stats for your neighborhood.

Colorado Springs Home Values - New Listings Aug 2011

Colorado Springs Home Values - Homes For Sale Aug 2011

Colorado Springs Home Values - Days on Market Aug 2011

Colorado Springs Home Values - Under Contract Homes Aug 2011

Colorado Springs Home Values - Homes Sales Aug 2011

Colorado Springs Home Values - Home Prices Aug 2011

Colorado Springs Home Values - Total Sales Aug 2011

Colorado Springs Home Values - Summary Aug 2011

Displaying blog entries 21-22 of 22

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