Home sales decreased by 8.5% in El Paso County for the month of July when compared to June and sales were 11.9% higher when compared to July 2010.
There were 85 additional single family home sales in July 2011 when compared to July 2010. There were also 1,241 additional single family homes for sale in July 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 June, the average sales price ($224,776) and the median sales price ($198,950) noticeably increased. Last July, the average sales price was $237,029 and the median sales price was $209,900.
**Information gathered from the Pikes Peak MLS is deemed reliable but not guaranteed