With the final numbers in from the Pikes Peak Association of Realtors for the month of November 2008. The Average List Price has reached a new low for the year.

I think this is more a reflection of lack of listing activity as opposed to lack of value. In other words, we are seeing fewer listings and certainly fewer higher end listings. Sellers are opting to get into the rental market or sit on the sidelines as opposed getting in the game and risking a sack. 

Here is a look at the Year to Date Average Listing Prices for the Colorado Springs Real Estate Market. As you can see the decline has been gradual. Colorado Springs is for the most part a very conservative/stable market, so as this graphic shows, we don't tend to see dramatic swings i nour market statistics.