Colorado Springs MLS
The real estate market is showing an improvement in Colorado Springs according to the MLS, or Multiple Listing Service. The MLS tracks the time a property is on the market before selling. The time on the market actually gives indication of whether we have a buyer's market or a seller's market. The article below gives current MLS statistics suggesting Colorado Springs properties are selling much faster than they were a year ago.
For additional information on the importance of working with someone that is qualified to accurately interpret MLS statistics, please click: MLS reports.
Colorado Springs MLS Market Update. Below are the statistics for the Colorado Springs MLS real estate market.
All the trends are good towards an improving real estate market for Colorado Springs resales when you compare December 2008 to December 2009. The number of sales were up 26% and the number of active listings were down by 20%. This equates to a change in absorption rate for the city from 10 months from a year ago to 6 months, meaning that at the current rate of sales per month, it will only take 6 months to sell the inventory of homes. We will most likely see the number of active listings increase for Colorado Sprngs in January, but the buyers typically start returning to the market as well.
Total sales for 2009 were up 4.9% over 2008. A positive sign that Colorado Springs real estate market is on the mend.
The bad news is that single family new home starts were down 15% from December 2008.