Living Colorado Springs » Real Estate statistics

July Home Sales In Colorado Springs Live Down to Expectations

Rick Van Wieren — Mon, 02 Aug 2010 14:29:44 +0000

I am really not a fan of bad news, but sometimes it just has to be told. July 2010 home sales in Colorado Springs is one of those bad news stories. At only 713 sales, we were down 24.6% from last July, which was not a great month to begin with. This was something we expected however. With the tax credit expiring, there was some borrowing of sales in the spring from the summer months. It will take a few months for ‘normal’ demand levels to really be established. In the mean time, the inventory of unsold homes jumped 16.9%, an 8.4 month supply of homes at the July selling pace.

There is a silver lining. Prices actually improved again, with the average up 2.4% at $237,029, and the median up 5.1% at $209,800. Interest rates are still incredible at 4 3/8% . The ratio of selling price to list price went back up to 97.6%, a more normal figure. And the 90th percentile (indicating where the top 10% of activity is) jumped again, to $415,000, the 1st time we’ve seen that level in a while, and a sign of continued strength in more expensive homes.

What will it take for us to get to a more sustainable level of home sales? Jobs. The quality of life in Colorado Springs is famous. What we still need are more jobs, and preferably of the higher paying variety.

For more details about home sales, see the Market Conditions section of this web site.

February Home Sales Continue to Rise in Colorado Springs

Rick Van Wieren — Mon, 01 Mar 2010 15:44:52 +0000

Preliminary figures indicate homes sale rose again in Colorado Springs for the 7th consecutive month at a double digit pace of 13.5%. Prices were also up, though barely, with the average up .4%, and the median (1/2 above, 1/2 below), up only 2.7%. The inventory of unsold homes for sale dropped again, to 4,361 units or 12.7% below 2009 levels. The 90% percentile was a very soft $345,000, indicating that sales of higher end homes continues to be quite weak.
For more details, charts, links to the longer term history, please visit Market Conditions.

Where In Colorado Springs Are Homes Selling?

Rick Van Wieren — Sat, 09 Jan 2010 15:00:13 +0000

The area of Colorado Springs that is selling the most homes is Fountain Valley, on the southern edge of the region. Here is a round up of the top MLS areas, by number of single family homes sold in December of 2009:

Area	# SF Home Sales	Med Sale Price	Avg Sale Price	% of Market
Fountain Valley	72	$166,825	$165,106	11.56%
Powers	63	$190,000	$197,160	10.11%
Northeast	55	$224,900	$257,366	8.83%
Southwest	51	$192,500	$270,210	8.19%
Southeast	47	$115,000	$122,771	7.54%
Central	41	$115,000	$127,924	6.58%
East	31	$155,000	$161,075	4.98%
Briargate	30	$272,000	$281,875	4.82%
Trilakes	29	$356,000	$371,578	4.65%
Northwest	26	$277,000	$322,969	4.17%
Falcon North	25	$243,400	$251,387	4.01%

Total SF sales	623

Based on information from the Pikes Peak REALTOR Services Corp. (“RSC”), for the period 12/1/09 through 12/31/09 . 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.”

Part of the reason for strong sales in Fountain Valley is the activity at Fort Carson. In addition however, Fountain Valley has very competitively priced and readily available new homes, which it seems no one can ever get enough of, if they can afford them. The rankings are very similar for the full year as well. Another reason for quantity of sales in Fountain Valley? There are more homes for sale in Fountain Valley. This area comprised 19.5% of the active listings (homes for sale) in the area, and less than 12% of the actual sales. The Powers area on the other hand comprised only 6.3% of the homes for sale, but had 10.1% of the sales.