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Pricing in Southwest Colorado Springs continues to decline
Colorado Spring Real Estate, October 31, 2009
Market Report for Southwest – Single Family Homes, Homes Close to Fort Carson
Includes Homes in the Broadmoor, Cheyenne Meadows, Bluff Bluffs, Quail Ridge
Search for Homes in Southwest Colorado Springs
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The Southwest housing market continues to be a BUYERS Market, as there is currently a 9.7 month of supply of homes on the market. A 6 month supply of houses on the market is considered a “NEUTRAL MARKET”. 2008 Sales units were down 25% from 2007, but 2008 pricing was only down 10% from 2007. Sales have continued to declined in 2009 and pricing has continued to see downward pressure.
Recap of 2009, 2008, 2007, 2006, 2005, and 2004
| 1-1-2009 to 10-31-09 | 2008 | 2007 | 2006 | 2005 | 2004 | |
| Number of Homes Sold | 377 | 440 | 580 | 604 | 801 | 752 |
| Average Sale Price | $312,449 | $357,000 | $394,375 | $381,142 | $371,349 | $329,909 |
| Sales Price to List Price | TBD | 95.6% | 96.2% | 96.8% | 96.6% | 97.9% |
| Average Days on Market | 92 | 91 | 94 | 84 | 64 | 53 |
| Average # of house sold per month | 37.7 | 36.7 | 48.3 | 50.3 | 66.8 | 62.7 |
Current Report as of 10-31-09
- Active listings: 331
- Under Contract and Pending: 77
- Absorption Rate: 37.7 homes per month, a 8.7 month supply of houses currently on the market
Southwest home are:
- Close to Fort Carson
- Close to Norad
- Close to Pikes Peak Community College
- 20 Minutes from the Colorado Springs Airport
- 15 – 20 minutes from Citadel Shopping Mall
- 5 –15 Minutes from Downtown Colorado Springs
- 15 – 20 minutes from UCCS
- 10 – 15 Minutes from Garden of the Gods
- Close to Seven falls
- Great views of Pikes Peak
- Close to the Broadmoor Hotel
- Close to the Cheyenne Mountain Zoo
This Colorado Springs Real Estate report contains information on Single Family homes in Southwest Colorado Springs.
This information is taken from the Pikes Peak Realtor Services Corp and is deemed reliable but not guaranteed.
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