Colorado Springs Realty Blog

Home inventory  increased by 36.5% for the month of July 2010 when compared to six months ago (February 2010). Compared to the previous month of June, there was a slight increase of .6% in single family homes for sale. We are now in the busy season for real estate in Colorado Springs and can expect inventory levels to increase again next month.

Single Family Home Inventory in the Pikes Peak MLS was 16% lower in July 2009 and there were 233 more single family home sales.

Looking at stats for July 2010, Single Family Home inventory in the Pikes Peak MLS is sitting at 8.3 months (compared to 6.5 months in June).  Last time we saw inventory levels at 8 months or more was at the beginning of the year.  There is a balanced market in Colorado Springs when inventory sits at 6 months.

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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 decreased by 21.9% in El Paso County for the month of July when compared to June.

There were 233 fewer single family home sales in July 2010 when compared to July 2009 (2.5% decrease). There were 820 fewer single family homes for sale in July 2009.  The dip in single family home sales may be a result of the tax credit expiring.  Hopefully, we will see an increase in sales next month.

Compared to the previous month of June, the average sales price ($237,029) slightly decreased and the median sales price ($209,900) increased.  Last July, the average sales price was $231,457 and the median sales price was $199,675.

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

Homes sales increased by 2.8% in El Paso County for the month of June when compared to May.

There were 40 additional single family home sales in June 2010 when compared to June 2009 (4.6% increase). There were 791 fewer single family homes for sale in June 2009. As long as inventory levels are remain steady while sales continue to increase, the real estate market in Colorado Springs will keep improving.

Compared to the previous month of May, both the average sales price ($237,318) and the median sales price ($205,000) increased. This is the highest we have seen the average and median sales price since September 2008.  Last June, the average sales price was $225,402 and the median sales price was $194,700.

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

Home inventory increased by 43.7% for the month of June 2010 when compared to six months ago (January 2010). Compared to the previous month of May, there was a 6.6% increase in single family homes for sale. We are now in the busy season for real estate in Colorado Springs and can expect inventory levels to increase again next month.

Single Family Home Inventory in the Pikes Peak MLS was 15% lower in June 2009 and there were only 40 fewer single family home sales.

Looking at stats for June 2010, Single Family Home inventory in the Pikes Peak MLS is sitting at 6.5 months (compared to 6.3 months in May). There is a balanced market in Colorado Springs when inventory sits at 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

It is not uncommon for home owners that are facing a short sale situation to have more than one lien on their property.  The second lien holder may approve the short sale of a property but may not necessarily forgive or cancel the debt still owed and require the home owner sign a promissory note at closing promising to pay off the remaining debt.  In other words, the lien is released from the home in order to proceed with a short sale but the individual is still held responsible to pay it after the short sale is completed.

Whether the seller has to sign a promissory note, depends on the bank and what type of lien is in second position.  In the situation a home owner does not agree to sign a promissory note for the second lien holder, the short sale cannot be completed unless the second lien holder agrees to cancel the remaining debt.

It is important to communicate with the second lien holder to find out if a promissory will be required in the early stages of a short sale transaction, if possible.  Many times, payment plans can be modified so they are manageable for the individual. 

In some situations, the second lien holder will not approve a short sale if the borrower is not current with their payments.  Short sale transactions are more complicated when there two or more lien holders involved therefore,  it is important to hire a real estate agent in Colorado Springs who has experience with these types of short sales.

Additional Reading:  Short Sales:  Will you have to pay the Phantom Tax?

Colorado Springs Real Estate Agent, Patricia Beck, providing real estate services to home sellers.

Homes sales increased by 12% in El Paso County for the month of May when compared to April.

There were 56 additional single family home sales in May 2010 when compared to May 2009 (6.7% increase). There were 508 fewer single family homes for sale in May 2009. As long as inventory levels are remain steady while sales continue to increase, the real estate market in Colorado Springs will keep improving.

Compared to the previous month of April, both the average sales price ($232,648) and the median sales price ($194,450) significantly increased. Last May, the average sales price was $220,983 and the median sales price was $189,130.

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

Home inventory increased by 40.5% for the month of May 2010 when compared to six months ago (December 2009). Compared to the previous month of April, there was a 7.8% increase in single family homes for sale. We are now in the busy season for real estate in Colorado Springs and can expect inventory levels to increase again next month. 

Single Family Home Inventory in the Pikes Peak MLS was 10% lower in May 2009 and there were only 56 fewer single family home sales. 

Looking at stats for May 2010, Single Family Home inventory in the Pikes Peak MLS is sitting at 6.3 months (compared to 6.5 months in April). There is a balanced market in Colorado Springs when inventory sits at 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

Home inventory increased by 19.7% for the month of April 2010 when compared to six months ago (November 2009). Compared to the previous month of March, there was a 7.8% increase in single family homes for sale. We are now in the busy season for real estate in Colorado Springs and can expect inventory levels to increase again next month.

Single Family Home Inventory in the Pikes Peak MLS was 2.7% lower in April 2009 and there were 84 fewer single family home sales.

Looking at stats for April 2010, Single Family Home inventory in the Pikes Peak MLS is sitting at 6.5 months (compared to 6.6 months in March). There is a balanced market in Colorado Springs when inventory sits at 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 9.5% in El Paso County for the month of April when compared to March.

There were 84 additional single family home sales in April 2010 when compared to April 2009 (11.8% increase). There were 138 fewer single family homes for sale in April 2009.  Although, inventory levels are slightly higher than one year ago, sales have steadily increased.

Compared to the previous month of March, the average sales price ($220,105) increased while the median sales price ($187,500) slightly decreased. Last April, the average sales price was $210,141 and the median sales price was $180,000!

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

Homes sales increased by 26% in El Paso County for the month of March when compared to February.

There were 157 additional single family home sales in March 2010 when compared to March 2009 (27.7% increase). There were also an additional 302 single family homes for sale in March 2009. Inventory levels are lower than one year ago while sales have steadily increased.  The tax credit available to first time home buyers has helped stimulate the real estate market in Colorado Springs. 

Compared to the previous month of February, the average sales price ($215,625) and the median sales price ($189,900) increased.  Last March, the average sales price was $212,549 and the median sales price was $185,000.

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