Colorado Springs Real Estate Continues Forward Progress

The Colorado Springs real estate market had another good month in September, with home sales up 15% from last year. The median price was up 3.6%, which is the 7th consecutive month where prices have risen compared to the prior year. Homes for sale were down 11.3% and just under a 5 month supply at the September sales rate. The Pikes Peak Regional Building Department reported September building permits for detached single family homes were up 56.5%. This likely is a result of buyers choosing new construction when there are fewer homes on the market.

Low interest rates are certainly doing their part. Rates have been consistently in the low to mid 3′s. Low long term mortgage rates and increasing rent prices are making the decision to buy rather than rent MUCH more attractive right now.

For more details, please visit Colorado Springs Real Estate Market Conditions.

“Based on information from the Pikes Peak REALTOR Services Corp. (“RSC”), for the period 1/1/05 through 9/30/12 . 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 © 2012 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 719-331-7675 or email rick@ricksellscolorado.com