Colorado Springs Real Estate Market Drops Slightly in April

April 2011 home sales in Colorado Springs were down 5.6% from last year (748 homes sold), and prices were off slightly as well, down 2.1% for the average ($215,466) and 1.4% for the median (50% above, 50% below, $184,900). High end home sales were surprisingly soft, with the 90th percentile at only $365,000.

The ‘silver lining’, if there is one, is that the inventory of unsold homes remains fairly stable, at 4,582 homes for sale in Colorado Springs, roughly a 6 month supply, and down 11% from 2010. Last years figures were affected by the First Time Home Buyers Tax Credit, which had contract and closing deadlines that forced a bit of a surge in contracts in April. Builders and resale home sellers alike were banking on the program to speed up the sale of their homes at the time, this years supply looks like we’ve found the ‘new normal’.

For more details, please visit http://livingcoloradosprings.com/market-conditions/

Oh yeah, “Based on information from the Pikes Peak REALTOR Services Corp. (“RSC”), for the period 1/1/05 through 4/30/11 . RSC does not guarantee or is in any way responsible for its accuracy. Data maintained by RSC may not reflect all real estate activity in the market.” Copyright © 2011 REALTOR® Services Corp. Questions about this data analysis should be directed to Rick Van Wieren, RE/MAX Properties, Inc,1740 Chapel Hills Dr, Colorado Springs, CO 80920 ph 719-590-4768 or email rick@ricksellscolorado.com

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