Home sales increased by 4.3% in El Paso County for the month of August when compared to July and sales were 20.9% higher when compared to August 2010!
There were 144 additional single family home sales in August 2011 when compared to August 2010. There were also 1,355 additional single family homes for sale in August 2010. In order for the Colorado Springs real estate market to stabilize and to create more demand, inventory levels need to remain low while home sales continue to increase and we are starting to see that occur.
Compared to the previous month of July, the average sales price ($221,371) and the median sales price ($191,000) decreased. Last August, the average sales price was $246,072 and the median sales price was $205,000.
**Information gathered from the Pikes Peak MLS is deemed reliable but not guaranteed