The Northeast area is located in the in School District 11. A total of 92 single family homes sold in the month of June with the average sale price of $235,506. The average days on market for homes that sold in June 2009 was 76 days.
There are currently a total of 315 single family homes listed for sale and 120 single family homes that are under contract or pending in the Northeast area.
Home sales for the Northeast area of Colorado Springs have gradually declined since 2005; the area experienced the lowest number of home sales in 2008 like many other areas in the city. Total single family home sales for 2009 already look better than last year so the market seems to be turning around in the right direction.
List Price vs. Sale Price Ratios in the Northeast area were lowest in the first quarter of 2009 (96%) but increased to 97.9% in the second quarter. We have seen a fluctuation between 97.5% – 99.9% over the past few years. The list price vs. sale price ratio for June 2009 was 98.1%.
The Average Sale Price was lowest in 2005 at $231,553 and highest in 2006 at $242,157 when looking back over the past few years. The average sale price has gradually increased since the beginning of this year and in June, the average sale price was $235,506.
*Information gathered from the Pikes Peak MLS is deemed reliable but not guaranteed