It’s very easy to think life is absolutely going great guns when everything is running smoothly. Relative to our particular brokerage, this is what has been happening so far this year. Sales are booming. Light is beaming through the clouds of housing pessimism. Agents are expressing how nice it is to be the best about who they are without feeling pressured to conform to a rigid corporate culture. So on and so on.
Nevertheless, the current listing and sales summary of May 2011 makes you raise your eyebrows in a posture of reflection. The sobering truths are that the Colorado Springs Real Estate market is going to continue to show various ups and downs, specifically with some declining values in the higher end ranges mixed with some stronger appreciation gains in the lower end markets.
Right now, there is an arm wrestling match happening between the realities of home pricing stabilization and the recent weariness of consumer confidence. Personally, I’m not really sure who is winning the battle. There is a struggle to declare a definite winner. Also, I guess it depends upon who you’re rooting for or perhaps, who you’re asking. Regardless, this Colorado Springs Realtor is on the side of the truth, knowing the overcoming realities of the market will surface in the long run. So let’s take a look at the market report bullet points.
- Compared to last month (April) sales have increased 4.3%, from 748 to 780. However, if you compare the numbers to May 2010, there is a decrease of sales of 12.2% - a figure catching many prognosticators off guard.
- The actual sales price establishes the measuring stick for actual values. And when comparing the average sales prices between April to May 2011, there is a slight decrease (0.9%) in this measurement.
- Active listing inventory remains relatively healthy at 4,713.
- The total cumulative volume of actual dollars flowing through our market for the first five months of 2010 v. 2011 shows we’re running totals 8% less this year.
The bad news is that we continue to teeter-totter in a row boat that sits on choppy waters. On the other hand, once bank owned absorption occurs, the market is expected to rebound around two years or so. These numbers fair very well, considering other underwater US markets have already thrown their life preservers into the water.
Feel free to contact Colorado Springs Realtor, Cherise Selley, Broker/Owner of Selley Group Real Estate, LLC: 2139 Chuckwagon Rd, Ste 210 - Colorado Springs, Colorado 80919 - 719. 598. 5101
Portions of this article are written by Gordon, as framed by the expressed opinions of Cherise, but not proofread.
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