Home sales increased by 9.1% in El Paso County for the month of June when compared to May and sales were 4.5% lower when compared to June 2010.
There were only 41 fewer single family home sales in June 2011 when compared to June 2010. There were also 1,156 additional single family homes for sale in June 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 May, the average sales price ($215,741) increased while the median sales price ($185,000) remained the same. Last June, the average sales price was $237,318 and the median sales price was $205,000.
**Information gathered from the Pikes Peak MLS is deemed reliable but not guaranteed