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The definition of Days on Market (DOM) is the quantity of days a property has been on an Active status in the multiple listing service.    The average days on market for homes in Colorado Springs in 2008 is currently 90 days; but this number varies neighborhood-by-neighborhood and it varies by different price categories.   As an example:

• Briargate Days on Market:  99
• Central Days on Market:  79
• Manitou Springs Days on Market: 124
• Northwest Days on Market:  96
• Tri-Lakes Days on Market:  107
• West Days on Market:  83
• Old Colorado City Days on Market:  90

Days on Market will also vary in different price categories in different areas.  As an example:

• Northwest Area has had over 216 houses sold in the last 6 months; and the DOM for the area is 111
  • 107 of these properties were priced under $300,000; and the DOM for this price range was 95 days
  • 81 of these properties were priced from $300,000 to $500,000; and the DOM’s for this price range was 112 days
  • 28 of these properties were priced over $500,000, and the DOM’s for the price range was 169
    

Remember, everything about real estate is on a neighborhood-by-neighborhood basis.

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Kathy (719-287-1049)   KTorline@msn.com