There were 723 sales of single family homes recorded in the Pikes Peak mls in October, up from 695 sales in September.  The year to date sales through October 31 are 8,685, compared to 10,361 during the first 10 months of 2006.   The average sales price in October was $243,160, down from an average of $255,330 in September. 

But... even though it seems like we've been hearing doom and gloom all year; the average sales price in September was very similar to February 2007's ($255,017). 

Year to date, June has been our peak month for both sales (1,118) and average price ($276,148).  In June of 2006, 1355 homes sold; in June of 2005, there were 1390 sales (a record month, in a record breaking year of 13,124 sales). 

The challenge isn't that homes haven't been selling; but that there is a substantially larger than usual inventory to work through.  Although fewer homes were on the market in October (6,470) vs. September (6,767), that is up from the 5,750 single family homes on the market last October and 4,341 active listings during October 2005.

An additional 105 condos/townhomes  and 55 pieces of vacant land sold during October. 

Based on information from the Pikes Peak REALTOR Services Corp. ("RSC"), for the period 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.