Sellers in the Colorado Springs area still face challenges, due to a large inventory of homes on the market, and comparitively slow sales for the peak selling season.
867 single family homes sold in June, while there were 6,595 active listings. That's more homes sold any month since last August, and 27 more than in May. The better news: The average sold price increased to $256,829, and the median price rose to $233,000 (the highest figures since August's prices). And while both figures are lower than June of last year, the median sales price is very close to last year's $233,900 (last June's average price was $276,148).
337 of the single family homes closed in June sold for under $200,000, and another 249 sold between $200,000 and $299,999. Only 50 homes sold that were $500,000 or more - 11 of those over were over $750,000 (with one slightly over a million).
During June 2007: 88 homes sold for $500,000+, including five at one million plus (and the $3,633,525 property helped to bring up the average price).
We always stress that statistics don't tell the whole story. It's not just a matter of "prices are up" or "prices are down" or "homes aren't selling." Price and price range, (for instance, this is a good time for first time and move-up buyers), condition, location, appeal, and a bit of luck all factor in. Call us to see where sales and prices are at in your neighborhood.
Based on information from the Pikes Peak REALTOR Services Corp. ("RSC"), for the period June 2007through June 2008. 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.
Ken and Sandy Wickham are long-time Realtors in beautiful Colorado Springs, CO. They welcome your real estate inquiries. To contact them, call 719-534-7919 or 800-599-8500 ext. 1120.
www.wickhome.com
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