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Market Conditions for Colorado Springs, Colorado
Reported by Van Wieren Team, REALTOR
Updated August 15, 2008.
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Current Market Rating: 1
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Buyer's
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Seller's
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Current Price Trend: 2
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Falling
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Colorado Springs July 08 real estate sale data shows:
Single Family Home Sales 886 units, down 14.1% from last July, Median Price, $223,950, down only 1.3% from last July, and up for the 6th month in a row, Average Price, $252,549, down 7.9% from last July, and down 1.7% from last month, Inventory 6544 units for sale, down 7.4% from last July. Some recovery appears to have started, with new foreclosure filings having dropped from last month as well.
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With interest rates in the low 6's, and the major expansion at Fort Carson, we are beginning to get positioned for recovery. While this recession may last a little longer, the builders are not feeding the problem by building a lot of "spec" homes. In addition, FHA financing now reaches $325,000 in El Paso County. This time will likely be remembered as the time "I should have bought". See all the listed homes for sale at www.RickSellsColorado.com, or visit our blog (updated regularly) at http://LivingInColoradoSprings.blogspot.com/
- Rick Van Wieren
ZIP Codes: 80920, 80921, 80922, 80923, 80915, 80917, 80918, 80919, 80910, 80906, 80907, 80908, 80909, 80831, 80132
Location Characteristics: Home of the US Air Force Academy, NORAD, Ft Carson, Olympic Training Center, Peterson and Schriever AFB, and one of the most beautiful cities in the US, at the foot of Pikes Peak
For More Information:
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These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
