When looking at the Listing and Sales Summary of single family/patio homes for March 2012 (provided by the Pikes Peak REALTOR® Services Corp), this Colorado Springs CO Realtor would like to share a few thoughts to consider.
There are some changes that keep occurring in the Colorado Springs Real Estate market – somewhat comparable to the abrupt changes we experience in the weather patterns. On Sunday, it was the most beautiful day you could imagine, 81 degrees, no humidity and not one cloud in the powder blue sky. By Tuesday morning, we had 50 mph winds, blowing snow, and temperatures dipped to the freezing levels – dramatic changes indeed.
We have experienced this kind of sharp, undulating patterns on our business graph as well for 2012. Some weeks are overloaded with busy activity, in fact, way too much for small teams to handle. Then the next week, everything seems to come to a screeching halt, making it very difficult to strategically plan to give optimal real estate service to buyers, sellers and investors.
Be assured that our group of Colorado Springs Realtors understands the importance of preparation, followed by the delivery of topnotch service. Sales activity is happening!
First, compared to last month, our market experienced an increase in sales by 40.7%, though we are still 6.8% lower than March of 2011. Yet, the average sales price is 2.7% higher than March 2011, demonstrating the strength of stabilization of our market.
Second, I find it interesting that the listing inventory is as low as it is by the numbers, 3,271 active listings, which is only an increase of 1.5% from February figures. Personally, I haven’t advertised as many listings lately. This is not because I do not have any to list. What’s been happening is that several of my listings are selling like hot cakes. As soon as I get them up on the MLS, it seems like I am getting multiple offers – good ones at that!
Third, buyer activity is somewhat stalled due to the low listing inventory in the local real estate market. Believe it or not, the position of negotiation advantage tilts towards the Seller, especially since market absorption hovers around 4.5 months. Buyers do not have the luxury to wait and see what happens with super low-ball offers. Many properties are getting more than one offer and the offers are coming in pretty close to asking prices.
Feel free to contact Colorado Springs Realtor, Cherise Selley, Broker/Owner of Selley Group Real Estate, LLC or you may contact our group of Colorado Springs Realtors @ www.selleygroup.com or 2139 Chuckwagon Rd, Ste 210 - Colorado Springs, Colorado 80919 - 719. 598. 5101
All agents affiliated with Selley Group Real Estate, LLC are actively licensed in accordance to the laws of Colorado.
Portions of this article are written by Gordon, as framed by the expressed opinions of Cherise, but not proofread.
“Based on information from the Pikes Peak REALTOR® Services Corp. (RSC), for the period March 2011 through March 2012. RSC information may not reflect all real estate activity in the market and is provided as is without warranty or guaranty.”