Colorado Springs Market Information
Summer is here and we are starting to see higher inventory of single family homes for sale.
March through August are peak months for home sales in Colorado Springs, and inventory climbed to 6,396 homes actively for sale in May.
| Single Family Residence Sales Statistics, El Paso County |
| Time Frame | Number Sold | Median Sales Price |
| June 2008 | 863 | $223,000 |
| June 2007 | 1,088 | $223,900 |
| May 2008 | 874 | $210,000 |
| May 2007 | 1,300 | $220,000 |
| 2008 YTD | 4,357 | $206,000 |
| 2007 | 12,376 | $214,000 |
The amount of home inventory in the Colorado Springs area often suggests
whether the current real estate market is in favor of buyers or sellers. With a large supply of homes and small pool of buyers, it is safe to assume it is a buyer's market. On the other hand, if there is a minimal supply of homes in Colorado Springs and many buyers looking to purchase property, it would be considered a seller's market. If there are as many homes for sale as available buyers, it is referred to as a balanced market. There is currently a 7.6 month supply of homes in the Colorado Springs area and therefore a buyers' market. In real estate, it is all about supply and demand!
