The real estate market has adjusted all over the country and the area of Colorado Springs is no different. So far, the number of home sales this year is approximately 8% lower than those of 2007. What does that mean for sellers? Do not be unrealistic about the price you can sell your home for in the current real estate market.
Home inventory is climbing as we are amidst the peak season for real estate in the Colorado Springs. There are currently over 6,000 homes on the market and we have 7.6 months of home inventory in Colorado Springs.
Looking over the previous three years, the average sales price has dropped in 2008 when compared to the past two years. The good news:
the median and average sales price of homes in Colorado Springs
increased in the month of May 2008 when compared to previous months
Showings are increasing and 840 homes sold in May 2008.
In fact, sales last May were higher than any other month, over the past