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Why It’s a Seller’s Market…Or is It?

A general label does not always apply to every circumstance. So, we should not be surprised if labeling a financial market as strictly bullish or bearish or a real estate market as a buyer’s or seller’s market does not apply to the entirety of the Colorado Springs Real Estate market.
Nonetheless, the tide has certainly turned from being a recessed market, in which buyers were determining the actual sales prices by making savvy purchases at some great bargain prices, to a Seller’s market. 
Nowadays, especially in the price ranges under $400,000, the inventory is very low, thus the Seller’s are determining the pricing on listings by holding steadfast to their asking prices.  And to boot, many Sellers are getting what they are asking within very short time frames, especially if they have properly maintained and staged their homes appropriately.
This trend of shortened time frames for contracts, closings and multiple bids is also gaining momentum into the higher price ranges as well.  I’ve personally noticed that more buyers are inquiring about the higher price ranges these days.
Yet, I do not want to give the wrong impression about the Colorado Springs Real Estate market as being a Seller’s market exclusively.  ... more

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