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Where are the houses selling in Colorado Springs?
Colorado Springs Real Estate — Market Update
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In Real Estate, Realtors often use a term called Absorption Rate. It is an easy equation which takes the current inventory of houses for sale, divided by the the average number of houses sold per month. The result of this equation is called the Absorption Rate, the lower the rate typically equates to properties selling faster. The Absorption Rate lets you know how well the market is absorbing the current inventory of listings.
Less than 6 months of inventory on the market is considered a seller’s market. Hence, per the chart below, the ares in RED font are Colorado Springs homes that are in a Neutral or a Sellers’s Market. The areas in BLUE font, are Colorado Springs Homes that are in a a Buyer’s Market.
|
Area Defined by the MLS |
Average homes sold per month, for first 7 months of 2009 | Current Inventory as of 8-31-09 | Absorption rate |
| Southeast | 60.9 | 187 | 3.1 |
| Powers | 90.3 | 394 | 4.4 |
| East | 63.1 | 282 | 4.5 |
| Fountain Valley | 101.7 | 457 | 4.5 |
| Central | 67.6 | 336 | 5.0 |
| Northeast | 64.3 | 326 | 5.1 |
| Briargate | 60.6 | 327 | 5.4 |
| Old Colorado City | 20.3 | 132 | 6.5 |
| Marksheffel | 10.3 | 69 | 6.7 |
| Falcon North | 28.4 | 191 | 6.7 |
| West | 20.7 | 150 | 7.2 |
| Northwest | 28.1 | 219 | 7.8 |
| Northgate | 23.9 | 233 | 9.8 |
| Southwest | 43.3 | 425 | 9.8 |
| Black Forest | 17.1 | 247 | 14.4 |
| Tri Lakes | 32.0 | 464 | 14.5 |
| Woodland Park | 11.9 | 191 | 16.1 |
| Peyton | 3.1 | 51 | 16.2 |
| Falcon North | 10.9 | 195 | 18.0 |
| Manitou Springs | 5.0 | 90 | 18.0 |
To find out more information about Colorado Springs Real Estate, Contact Kathy Torline (KTorline@msn.com) 719-287-1049
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