Homes sales dropped by 16.6% in El Paso County for the month of January when compared to December 2008.

There were 121 more single family home sales in January 2008 when compared to total single family home sales for January 2009. Although there were fewer sales than this time last year, there were an additional 476 single family homes on the market in January 2007.

The average ($198,644) and median ($173,000) sales price decreased when compared to the previous month of December. The median sale price has not been at 173K since March 2002 and the average sale price hasn't been this low since 2001. The average and median home prices will increase once the foreclosures and short sale properties decrease in Colorado Springs.

*Information gathered from the Pikes Peak MLS is deemed reliable but not guaranteed

Colorado Springs Realtor Patricia Beck, providing real estate services to home buyers and sellers.