February is typically a slow month for home sales.  Some numbers just in from Pikes Peak Association of Realtors:

The better news:  the number of homes sold was up from January 2008.  In February, 556 single family homes sold, compared to 534 in January.  There were 5,571 active listings in February, so inventory remains high.  The homes that are selling continue to be priced competetively, and unless the buyer is looking for fixer uppers, are also in great condition and staged well. 

240 condos/townhomes also sold in February. 

The not-as-good news:  we saw further decrease in the median ($197,500) and average ($226,692) sales prices of single family homes in February.  Some factors are a increased number of sales of lower priced homes, sales of repos, and fewer new homes sold. 

We always like to caution that statistics don't tell the whole story.  If you'd like to sell your home, please contact us for specifics on your neighborhood - we'll be happy to meet with you to help you assess your situation. 

And, if you're thinking of buying - there's a wonderful selection, and interest rates and prices are favorable.  Please call us; we'd love to get together and learn about your dreams.

Ken and Sandy Wickham, the authors of this article, are Realtors in beautiful Colorado Springs, CO.  They welcome your real estate inquiries; to contact them, please visit their website.