It is no April Fools joke, Colorado Springs home sales really jumped 27.7% in March, according to preliminary data. Prices were stronger as well, with the average up 1.5% at $215,625 and the median (1/2 above, 1/2 below) up 2.6%, at $189,850.
These are good numbers, and while somewhat expected in light of the $8,000 First Time Home Buyers Tax Credit, at least they did not disappoint. The ‘distressed’ sales percentage of the total also dropped, to a 23.1%, the lowest in the last 4 months. The number of homes for sale dropped 6% from last year, but has been rising lately, and it was the smallest year to year drop we’ve had in almost 2 years, indicating the inventory will likely increase again soon. What a great time to buy a home in Colorado Springs!
For more details, please see the Market Conditions section of this web site.
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