Colorado Springs Realty Blog

Many people are aware that the real estate market has undergone a correction around the nation and in Colorado Springs is not excluded. The media has contributed to people shying away from buying a home; contrary to what many think, it is a great time to purchase a home in Colorado Springs right now!

1.  Low Interest Rates- If you are waiting for prices to fall further, the interest rates may not stay this low. Higher interest rates translate into a higher mortgage payment. With the current interest rates now is the time to buy.

2.  Selection- There are thousands of homes for sale in Colorado Springs and surrounding areas; buyers have a wide array of homes to choose from right now.

3.  Buyer’s Market- With the current home inventory remaining above 6 months, Colorado Springs is still a buyers market. What does that mean for buyers? They have more leverage when making an offer on a home to purchase. It is not uncommon for sellers to pay closing costs for the buyer in today’s real estate market in Colorado Springs. Some buyers cannot come up with the cash for closing costs so this is a great advantage in the current real estate market.

4.  Low Prices- Home prices in Colorado Springs have dropped and the median house price for October 2008 was $189,000. Buyers can often find bargain prices with short sale and bank owned properties. Homes have become very affordable, especially, for first time home buyers!

5.  Down Payment Assistance- There are many down payment assistance programs available to buyers right now so if you don’t have cash to put down, contact your Colorado Springs Realtor® for more information.

What the heck, here's one more reason you should buy a home in Colorado Springs Right Now!

6.  Tax Benefits- There are many tax benefits available to home owners, so why keep throwing away your money renting?

Additional Reading:

Now is the time to buy in Colorado Springs

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For information on the buying process and available Colorado Springs Housing please go to www.patricia-beck.com.

Home inventory decreased by 11.4% for the month of October 2008 when compared to June 2008.  We had the highest number of Single Family Homes for sale in June which is not surprising since inventory is normally highest during the summer months in Colorado Springs.

Single Family Home Inventory in the Pikes Peak MLS has also decreased by 9.7% when comparing October 2007 to October 2008.

Looking at stats for October:  Single Family Home inventory in the Pikes Peak MLS is sitting at 9 months (compared to 8.2 months last month).  Colorado Springs will reach a balanced market when inventory drops down to 6 months.

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

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.

Homes sales dropped by 10.2% in El Paso County for the month of October when compared to the previous month of September.

Compared to October 2007, there were 74 fewer single family home sales in October 2008.  Although there were fewer sales than this time last year, there were an additional 629 single family homes on the market in October 2007.  The average ($230,012) and median ($189,000) sales price slightly decreased when compared to the previous month of September.

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

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.

Colorado Springs Real Estate - Market Report for University Park - October 2008

Average List Price: $405,783
Average Days on Market (sold listings): 116 days
Absorption Rate: 1.5%
List Price vs. Sale Price Ratio: 92.3%

Contact me for additional information about homes in the University Park subdivision of Colorado Springs.

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

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

Colorado Springs Real Estate Market Report for Vista Mesa Subdivision- October 2008

Average List Price: $323,700
Average Days on Market (active listings): 138 days
Home Inventory: 2.6 months
Absorption Rate: 1.5%
List Price vs. Sale Price Ratio: 96.8%

Contact me for additional information about homes in the Vista Mesa 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

Colorado Springs Real Estate - Market Report for Antelope Creek - October 2008

Average List Price: $269,812
Home Inventory: 6.8 months
Absorption Rate: 1.2%
List Price vs. Sale Price Ratio: 98%

Contact Patricia for additional information about homes in the Antelope Creek subdivision of Colorado Springs.

Colorado Springs Real Estate information and services

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

Colorado Springs Real Estate - Market Report for Sundown - October 2008

Average List Price: $206,364
Average Days on Market (active listings): 94 days
Home Inventory: 3.9 months
Absorption Rate: 4.3%
List Price vs. Sale Price Ratio: 98%

Contact me for additional information about homes in the Sundown subdivision of Colorado Springs.

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

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

Colorado Springs Real Estate Market Report for Springs Ranch - October 2008

Average List Price: $250,870
Average Days on Market (active listings): 109 days
Home Inventory: 4.6 months
Absorption Rate: 10.3%
List Price vs. Sale Price Ratio: 97.3%

Contact me for additional information about homes in the Springs Ranch 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

Colorado Springs Real Estate - Market Report  - Wolf Ranch Subdivision - October 2008 

Average List Price: $372,500
Average Days on Market (active listings): 228 days
Home Inventory: 9.2 months
Absorption Rate: 5.83%
List Price vs. Sale Price Ratio: 95.4%

Patricia Beck – Selling Colorado Springs Homes

Contact me for additional information about homes in Wolf Ranch Subdivision of Colorado Springs.

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

Average List Price: $215.166
Average Days on Market (active listings): 75 days
Home Inventory: 6 months
Absorption Rate: 1%
List Price vs. Sale Price Ratio: 98%

Contact me for additional information about homes in the Greenbriar Park Subdivision of Colorado Springs.

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

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

Average List Price: $213,475
Average Days on Market (active listings): 94 days
Home Inventory: 3 months
Absorption Rate: 4%
List Price vs. Sale Price Ratio: 97.6%

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

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

Colorado Springs Real Estate information and services

Colorado Springs Real Estate Market Report for Newport Heights Subdivision - October 2008

Average List Price: $266,866
Average Days on Market (active listings): 105 days
Home Inventory: 3.7 months
Absorption Rate: 1.6%
List Price vs. Sale Price Ratio: 98.3%

Contact me for additional information about homes in the Newport Heights subdivision of Colorado Springs.

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

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

Colorado Springs Real Estate Market Report for Sunset Mesa - October 2008

Average List Price: $553,936
Average Days on Market (active listings): 259 days
Home Inventory: 19 months
Absorption Rate: 1%
List Price vs. Sale Price Ratio: 97.1%

 
Contact me for additional information about homes in the Sunset Mesa 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

Colorado Springs Real Estate Market Report for Sierra Ridge - October 2008

Average List Price: $305,143
Average Days on Market (active listings): 218 days
Home Inventory: 8 months
Absorption Rate: 1%
List Price vs. Sale Price Ratio: 98.4%

Contact me for additional information about homes in the Sierra Ridge Subdivision of Colorado Springs.

Patricia Beck – Selling Colorado Springs Homes

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

Colorado Springs Real Estate - Market Report  for  Dakota Ridge - October 2008

Average List Price: $373,566
Average Days on Market (active listings): 165 days
Home Inventory: 13.6 months
Absorption Rate: .6%
List Price vs. Sale Price Ratio: 98.1%

Contact me for additional information about homes in the Dakota Ridge subdivision of Colorado Springs.

Colorado Springs Real Estate information and services

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

Colorado Springs Real Estate Market Report for Wagon Trails - October 2008

Average List Price: $272,580
Average Days on Market (active listings): 121 days
Home Inventory: 4.1 months
Absorption Rate: 6.3%
List Price vs. Sale Price Ratio: 97.8%

Contact me for additional information about homes in the Wagon Trails subdivision of Colorado Springs.


Patricia Beck – Selling Colorado Springs Homes

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

Colorado Springs Real Estate - Market Report - Fairfax - October 2008

Average List Price: $238,894
Average Days on Market (active listings): 123 days
Home Inventory: 3.6 months
Absorption Rate: 7.8%
List Price vs. Sale Price Ratio: 97.9%

Contact me for additional information about homes in the Fairfax 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

Colorado Springs Real Estate - Market Report - Stetson Hills Subdivision - October 2008

Average List Price: $224,502
Average Days on Market (active listings): 98 days
Home Inventory: 3.8 months
Absorption Rate: 17.1%
List Price vs. Sale Price Ratio: 98.6%

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

Colorado Springs Real Estate - Market Report for Gatehouse Village - October 2008

Average List Price: $274,091
Average Days on Market (active listings): 132 days
Home Inventory: 3.8 months
Absorption Rate: 3.1%
List Price vs. Sale Price Ratio: 98.6%

Contact me for additional information about homes in the Gatehouse Village Subdivision of Colorado Springs.

Colorado Springs Real Estate information and services

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

Colorado Springs Real Estate - Market Report for Ridgeview at Stetson Hills - October 2008

Average List Price: $221,046
Average Days on Market (active listings): 104 days
Home Inventory: 4.6 months
Absorption Rate: 15%
List Price vs. Sale Price Ratio: 98.8%

Contact me for additional information about homes in the Ridgeview at Stetson Hills subdivision in Colorado Springs.

Patricia Beck – Selling Colorado Springs Homes

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