Colorado Springs Realty Blog

Powers is located in the Eastern area of Colorado Springs and in School District 49. A total of 104 single family homes sold in the month of May with the average sale price of $202,579. The average days on market for homes that sold in May 2009 was 85 days.

There are currently a total of 396 single family homes listed for sale and 194 single family homes that are under contract or pending in the Powers area.

Home sales for the Powers area of Colorado Springs have gradually declined since 2005; the area experienced the lowest number of home sales in 2008. It's hard to say how 2009 will turn out, but I expect the area will see more home sales than last year.

List Price vs. Sale Price Ratios in the Powers area were lowest in 2008 but have fluctuated between 98.1% - 99.4% over the past few years. The list price vs. sale price ratio for May 2009 was 98%.

The Average Sale Price was lowest in 2005 at $291,910 and highest in 2007 at $348,414 when going back to 2005. Although the current Average Sale Price for the Powers area is slightly lower than it was in 2008, it should increase as we move further into the year.

*Information gathered from the Pikes Peak MLS is deemed reliable but not guaranteed

For further information on available Homes in Colorado Springs contact your Colorado Springs Real Estate Agent, Patricia Beck.

Many bank owned properties in Colorado Springs are receiving multiple offers since there are fewer foreclosures available in the Colorado Springs Real Estate Market.  The number of foreclosures has not necessarily dwindled, it seems as though banks are choosing to create a demand for these types of properties by releasing a few at a time from their inventory.  Reducing the supply of bank owned properties will not only increase the demand for them but banks will probably net more for their properties since they are receiving multiple offers.

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Colorado Springs Real Estate Market Report for Stetson Hills - May 2009

Average List Price: $226,033
Average Days on Market (active listings): 93 days

Absorption Rate: 8.8%
List Price vs. Sale Price Ratio: 97.9%

Contact me for additional information about homes in the Stetson Hills Subdivision of Colorado Springs.

Providing real estate information and services for Colorado Springs home buyers and sellers.

*Information gathered from the Pikes Peak MLS is deemed reliable but not guaranteed

Home inventory increased by 1.8% for the month of May 2009 when compared to six months ago (December 2008). Compared to the previous month of April, there was a slight increase (.6%) in single family homes for sale. It is good that we are seeing inventory levels remaining steady while home sales are increasing; this will ultimately reduce the months of inventory in Colorado Springs.

Single Family Home Inventory in the Pikes Peak MLS has also decreased by 21% when comparing May 2009 to May 2008!

Looking at stats for May 2009, Single Family Home inventory in the Pikes Peak MLS is sitting at 6 months (compared to 7 months in April). We have not seen the inventory as low as 6 months June 2007!  There is a balanced market in Colorado Springs when inventory sits at 6 months; it appears the market is improving for sellers. 

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For more information on Colorado Springs Real Estate or the Colorado Springs Area contact me or visit my website.

*Information gathered from the Pikes Peak MLS is deemed reliable but not guaranteed

Patio homes are included in these stats

Homes sales increased by 15% in El Paso County for the month of May when compared to April 2009. Home sales should continue increasing now that we have entered the busy time of year for real estate in Colorado Springs.

There were only 8 additional single family home sales in May 2008 when compared to total single family home sales for May 2009.  There were an additional 1,354 single family homes on the market back in May 2008!

The average ($220,983) and median ($189,130) sales price increased when compared to the previous month of April. Once the number of sold foreclosure properties decrease, we should see the average and median sales price in Colorado Springs continue to increase.

The real estate market is improving and if you are thinking to purchase a home don't delay; interest rates are beginning to climb again as are home prices.

*Information gathered from the Pikes Peak MLS is deemed reliable but not guaranteed

Patio homes are included in these stats

Search for homes in Colorado Springs

For more information on Colorado Springs Real Estate or the Colorado Springs Area contact me or visit my website.

Many first time home buyers in Colorado Springs who cannot afford to purchase a single family residence opt for a townhome or condominium instead. 

So what is the difference between a condominium and a townhome?  An owner of a condominium only owns the unit not the land it sits on.  A condo may also have units above, below, and on either side of it.  Conversely, an owner of a townhome does own the land the townhome sits on and does not have any units above or below him or her. 

You can plan on paying monthly HOA (Home Owner's Association) dues if you purchase a townhome or condo since your unit will be part of a Common Interest Community where common areas are shared among owners such as the clubhouse, green areas, tennis courts, or pool.  The HOA maintains the exterior of the unit in addition to the common areas shared by the owners. Each HOA is different so research what is covered by the HOA in the complex where you are interested in making a purchase. 

Find out what is included in the HOA dues since complexes may vary.  HOA dues may cover water, trash, snow removal, and amenities such as a pool, gym, or clubhouse.  Depending on the HOA, pets may not be allowed. 

If you are buying a condominium and obtaining FHA financing, check with your lender to ensure the condominiums are FHA approved.  If the complex is not FHA approved and you still want to move forward, you may need to go through an appeals process.  Factors FHA considers when approving a complex may include the total number of units in the complex and the percentage of units that are currently rented. Check with your lender to find out more specifics on additional factors that affect a condo's eligibility.

Although it may take more time to gain equity in a townhome or condo, there are many benefits to this type of ownership.  Townhome or condo owners do not have to worry about exterior maintenance which is a positive for those who do not have time for yard work and other responsibilities that come with maintaining a home.  Since the exterior is maintained by the HOA, owners do not have to worry about homeowner's insurance in their monthly payment.  If you are purchasing a town home or condo in Colorado Springs, you may consider obtaining insurance on your personal belongings (i.e. renter's insurance).

Townhomes or condos can also make great rental properties if you decide to purchase a single family residence down the road. 

If you are interested in purchasing a townhome or condo in Colorado Springs, contact Patricia Beck, your Colorado Springs Real Estate Agent.

Home inventory decreased by 9.7% for the month of April 2009 when compared to six months ago (November 2008). Compared to the previous month of March, there was a decrease (1.3%) in single family homes for sale.  It is good that we are seeing inventory levels remaining steady while home sales are increasing; this will ultimately reduce the months of inventory in Colorado Springs.

Single Family Home Inventory in the Pikes Peak MLS has also decreased by 18.9% when comparing April 2009 to April 2008!

Looking at stats for April 2009, Single Family Home inventory in the Pikes Peak MLS is sitting at 7 months (compared to 9 months in March).  We have not seen the inventory as low as 7 months in some time and this is a good sign!  Colorado Springs will reach a balanced market when inventory drops down to 6 months.

Search for homes in Colorado Springs

For more information on Colorado Springs Real Estate or the Colorado Springs Area contact me or visit my website.

*Information gathered from the Pikes Peak MLS is deemed reliable but not guaranteed

Patio homes are included in these stats

Homes sales increased by 20% in El Paso County for the month of April when compared to March 2009.  Home sales should continue increasing now that we have entered the busy time of year for real estate in Colorado Springs.

There were only 64 additional single family home sales in April 2008 when compared to total single family home sales for April 2009. Although home sales were slightly higher this time last year, there were an additional 1,166 single family homes on the market!  Have we already seen the bottom of the real estate market in Colorado Springs?  The real estate market appears to be improving but only time will tell.

The average ($210,141) and median ($180,000) sales price decreased when compared to the previous month of March.  Once the number of sold foreclosure properties decrease, we should see an increase in the average and median sales price in Colorado Springs.

*Information gathered from the Pikes Peak MLS is deemed reliable but not guaranteed

Patio homes are included in these stats

Search for homes in Colorado Springs

For more information on Colorado Springs Real Estate or the Colorado Springs Area contact me or visit my website.

Real Estate Market Report - Peregrine (past 6 months)

Average List Price: $647,632
Average Days on Market (active listings): 195 days
Absorption Rate: .67%
List Price vs. Sale Price Ratio: 92.9%

Patricia Beck – Selling Colorado Springs Homes

*Information gathered from the Pikes Peak MLS is deemed reliable but not guaranteed

Briargate is located in the Northern area of Colorado Springs and in School District 20.  A total of 57 single family homes sold in the month of April with the average sale price of $279,142.  The average days on market for homes that sold in April 2009 was 103 days.  There are a total of 140 properties under contract or pending in the Briargate area.

Home sales for the Briargate area of Colorado Springs have gradually declined since 2005; the area experienced the lowest number of home sales in 2008.  It's hard to say how 2009 will turn out, but I expect the area will see more home sales than last year. 

List Price vs. Sale Price Ratios in the Briargate area were lowest in 2007 but have fluctuated between 97% - 99% over the past few years.  The list price vs. sale price ratio for the first quarter of 2009 was 97.7%. 

The Average Sale Price was lowest in 2005 at $291,910 and highest in 2007 at $348,414 when going back to 2005.  Although the current Average Sale Price for the Briargate area is slightly lower than it was in 2008, it should increase as we move further into the year.

 *Information gathered from the Pikes Peak MLS is deemed reliable but not guaranteed

For further information on available Homes in Colorado Springs contact your Colorado Springs Real Estate Agent, Patricia Beck.