4th Quarter Housing Market Stats for Colorado Springs

By
Real Estate Agent with Monument, Black Forest, Falcon, Fountain homes

 

                   4th Quarter Housing Market News for Colorado Springs

 

"Strike while the Iron is Hot" should be marketing strategy for home sellers in the 4th quarter of 2011 here in Colorado Springs, El Paso County. As of October, the number of active listings for sale was 3959 and with 758 of those homes selling it equates to a little under 5 1/2 months supply of homes. What does that mean for sellers? That the banks are holding back on the foreclosures being released and the available homes for sale are at the lowest since October 2010 at 5122 homes on the market. This area had been running between a 6-8 month supply of homes so the current 5 1/2 months supply gives an edge to homeowners willing to tolerate the marketing process during the holiday season.

 

Sellers have an opportunity to attract qualified buyers willing to purchase before the end of the year if they price competively, make sure their home shows well, and market effectively with a local Realtor. Buyers looking to close over the holidays will not be as tempted by the 235 short sales currently on the market and will be more inclined to grab one of the more traditional sale properties available.

 

Interest rates today on the local ENT Credit Union site show a 30 year fixed rate of 4.125% and a 20 year fixed rate at 3.875%. Buyers have an opportunity in the 4th quarter to escape from the rental trap and with increasing rents that might be the best option for first time buyers. It's also a great time to pursue a move up option grabbing a desirable fixed rate mortgage and purchasing that dream home.



 

Single Family /Patio Homes

Year

Total

Active

Number of Sales

Number of Sales YTD

         Monthly Sales Price       

 

 

 

 

 

 

Average 

Median

Oct

2011

3,959

758

7,164

$221,534

$185,000

Sept

2011

4,196

672

6,406

$218,526

$187,250

Aug

2011

4,484

832

5,734

$221,371

$191,000

July

2011

4,714

798

4,903

$224,776

$198,950

June

2011

4,761

872

4,107

$215,741

$185,000

 May

2011

4,756

799

3,235

$213,270

$185,000

Apr

2011

4,580

748

2,433

$215,466

$184,950

Mar

2011

4,470

776

1,686

$211,426

$180,000

Feb

2011

4,315

448

908

$235,684

$190,457

Jan

2011

4,326

460

460

$210

$180,000


 

 

Housing trends Colorado Springs

 

 

For more information on the local Colorado Springs housing market or to find out what your home is worth contact Lorraine Sayer today and get the facts not the drama

 

 

 

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Colorado El Paso County Colorado Springs
Tags:
interest rates
buying a home
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housing market trends colorado springs

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Lorraine Sayer

Realtor ABR,CDPE,GRI - Colorado Springs,CO RE/MAX
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