Prices for Colorado Springs real estate increased by 2.7% on average, and the median (1/2 below, 1/2 above) actually jumped 5% over March of 2011. Sales were down 6.8%, but the inventory of unsold homes was down 26.9%, causing some upward price pressure on the remaining homes for sale.
Sales have been steadily increasing on year to year to comparisons, but prices had been stubbornly soft. While it remains to be seen if this is THE turning point, all indications say it likely is, and positive year to year price comparisons will likely continue going forward. Low interest rates, pent up housing demand, and a strengthening local economy are all playing a part in the Colorado Springs housing market recovery.
For more details including monthly sales trends, please visit www.LivingColoradoSprings.com/market-conditions.
“Based on information from the Pikes Peak REALTOR Services Corp. (“RSC”), for the period 1/1/05 through 3/31/12 . 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 719-590-4768 or email firstname.lastname@example.org