October Home Sales Jump in Colorado Springs

October 2011 Colorado Springs home sales were up 20.1% over 2010, making it the 2nd best October since 2006. The good new was tempered by prices that remain soft, with the average and the median both down 7.8% and 7.5% respectively. Low interest rates and a recovering local economy are both factors in the highers numbers. The inventory of unsold homes dropped below 4,000 for the first time since December of 2009, and is actually at its lowest level since December of 2005, indicating we may soon be shifting back to more of a balanced market.
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“Based on information from the Pikes Peak REALTOR Services Corp. (“RSC”), for the period 1/1/05 through 10/31/11 . 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 © 2011 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 rick@ricksellscolorado.com