Home sales slightly increased in El Paso County for the month of February when compared to the previous month of January. Compared to the same time a year ago, single family home sales were 29% higher in February 2013!
There were 150 additional single family home sales in February 2013 when compared to February 2012! There were also an additional 189 single family homes for sale in February 2012. Inventory levels continue to remain lower than they were around this time last year in Colorado Springs.
Compared to the previous month of February, the average sales price ($222,357) and the median sales price ($199,000) decreased for a second month in a row. Last February, the average sales price was $212,551 and the median sales price was $176,750. Low inventory is creating higher demand and home prices are higher than last year at this time. It will take some time, but prices will start climbing again in Colorado Springs.
**Information gathered from the Pikes Peak MLS is deemed reliable but not guaranteed