Colorado Springs Real Estate Market Bouncing Back

Single family homes in Colorado Springs sold at a healthy clip in February, up 14.7% from 2011 at 514 homes sold. The inventory of unsold homes dropped to a 10 year low of 3,174 homes, down 26.4%. Prices remained soft, with the average down 9.8% at $212,551. The median (1/2 above, 1/2 below) fell 7.2% to $176,750, and 90% of the homes sold were under $345,000, reflecting continued demand for entry level homes, and weakness at the high end.
The increase in sales marked the 8th consecutive month where sales exceeded the prior year for the same month, going back to July of last year. Low interest rates (even into the 3’s!), rising employment, and stronger consumer confidence in the Colorado Springs economy all are factors in the increase.
For more details, please visit http://LivingColoradoSprings.com/market-conditions , or call Rick Van Wieren at 719-331-7675