Archive for January 24th, 2010

2009 Area Home Sales in Colorado Springs and El Paso County January 24th, 2010

Patricia

There were a total of 8,745 single family home sales in El Paso County in 2009 compared to 8,339 in 2008.  Take a look below to view the total sales for major areas in Colorado Springs and surrounding areas.

The Powers area of Colorado Springs had more home sales than any other area in Colorado Springs for the fifth year in a row. The Northeast area came in second while the Marksheffel area (new area added in 2009) came in last.

Looking at all of El Paso County, Fountain Valley had the highest number of single family home sales and even surpassed the Powers area by 140 home sales.

COLORADO SPRINGS

Highest median list price:

  1. Black Forest
  2. Northgate
  3. Briargate

Lowest median list price:

  1. Southeast
  2. Central
  3. Old Colorado City

Highest average sale price:

  1. Black Forest
  2. Northgate
  3. Northwest

Lowest average sale price:

  1. Southeast
  2. Central
  3. Old Colorado City

Best list price vs. sale price ratio:

  1. Marksheffel
  2. Southeast
  3. Powers

Lowest Days on Market:

  1. Southeast
  2. East
  3. Central

Highest Days on Market:

  1. Black Forest
  2. Northgate
  3. Southwest

EL PASO COUNTY

Highest median list price:

  1. Tri-Lakes
  2. Black Forest
  3. Northgate

Lowest median list price:

  1. Drennan/Truckton/Edison
  2. Southeast
  3. Midway

Highest average sale price:

  1. Tri-Lakes
  2. Black Forest
  3. Northgate

Lowest average sale price:

  1. Drennan/Truckton/Edison
  2. Calhan/Ramah
  3. Southeast

Best list price vs. sale price ratio:

  1. Fountain Valley
  2. Southeast
  3. Falcon

Lowest Days on Market:

  1. Southeast
  2. East
  3. Northeast

Highest Days on Market:

  1. Drennan/Truckton/Edison
  2. Rock Creek
  3. Peyton
Colorado Springs Area Home Sales for year 2009

As you can see in the graph below, 2005 was the peak for real estate in Colorado Springs.  We saw a 4.9% increase in Single Family Home Sales in 2009 when compared to 2008.  Colorado Springs is heading in a positive direction and we can expect to see an increase in home sales in 2010.  Colorado Springs saw the most significant drop in home sales from 2007 to 2008 (16.6%).

Yearly Home Sales for Colorado Springs

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

Colorado Springs Realtor Patricia Beck, providing real estate services to home buyers and sellers.

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Yet another change that will impact investors in Colorado Springs January 24th, 2010

Patricia

Fannie Mae and Freddie Mac have recently changed guidelines regarding seller contributions.

If you are purchasing a second home that is not your primary residence, the seller can not contribute more than 2% of the purchase price toward buyer closing costs. In other words, if an investor purchases a home for $150,000, the seller cannot give the investor more than $3,000 to use toward closing costs.

This new guideline will probably impact new investors the most since they will need to bring more cash to the closing table in addition to their down payment.  Most lenders require a minimum 20% down payment on investment properties.

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To find out more about Colorado Springs Realty and the Colorado Springs Area contact me or visit my website.

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