Colorado Springs Vintage Homes Blog
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Townhome and condos continue to see pressure on pricing
Why are Colorado Springs condos and townhomes harder to sell than houses or townhomes?
The Colorado Springs housing market for Condos and Townhomes continues to see a decline in pricing and numbers of units sold in 2011. 2010 pricing decreased by 3% from 2009 and 2011 pricing has currently declined by 5% from 2010. There were more units sold in 2010 vs. 2009.
Search for Colorado Springs Condos and Townhomes
Related Articles:
There are 5 main reasons that condos and townhomes are currently harder to sale than a Single Family Home in Colorado Springs
- As foreclosures continue to hit the Colorado Springs home market, buyers are now choosing houses over townhomes since they can get them for about the same price. Read the rest of this entry »
Townhome sales in Colorado Springs are still seeing downward pressure on pricing
Colorado Spring Real Estate
Colorado Springs Housing Market Report for Colorado Springs Townhomes & Condominiums
Search for Colorado Springs Townhomes and Condominiums
Related Articles:
- 5 reasons townhomes make an easy transition from apartment life
- New rules make condo buying harder
- Colorado Springs Home — Is a Condo or a Townhome right for you?
- Do you know what your townhome insurance covers?
- Have townhome prices bottomed out?
- FHA loans and Condos — important to know the rules
Townhomes and Condos in Colorado Springs continues to be a BUYERS Market, as there is currently a 8.6 month of supply of homes on the market. A 6 month supply of houses on the market is typically considered a “NEUTRAL MARKET“.
- Number of Townhomes and Condos in Colorado Springs sold were up 8% from 2010 in 2009, but are down substantially from 2006, when 1767 townhomes/condos were sold.
- Average pricing continues to see downward pressure, currently down 3% from 2010 to 2009. 2009 pricing is down 15% from the high in 2006.
Recap of 2011, 2010, 2009, 2008, 2007, 2006, 2005, and 2004
|
2011 Year to date |
2010 |
2009 |
2008 |
2007 |
2006 |
2005 |
2004 |
|
| Active |
622 |
|
||||||
| Number of Homes Sold |
144 |
1143 |
1056 |
1062 |
1423 |
1767 |
1731 |
1548 |
| Average Sale Price |
$133,312 |
$143,412 |
$147,805 |
$158,272 |
$173,372 |
$166,335 |
$152,901 |
$148,947 |
| Average # of house sold per month |
72 |
95.3 |
88 |
88.5 |
118.6 |
147.3 |
144 |
129 |
This Colorado Springs Real Estate report contains information on Townhomes and Condomiums in the Colorado Springs Area
This information is taken from the Pikes Peak Realtor Services Corp and is deemed reliable but not guaranteed.
If you enjoyed reading this article, why not Subscribe to be notified of the next one?
Kathy (719-287-1049) KTorline@msn.com
What is the difference between a condo and a townhome
What is the difference between a townhome and a condo?
Search for a Colorado Springs townhome
Related Articles:
- 5 reasons townhomes make an easy transition from apartment life
- New rules make condo buying harder
- Colorado Springs Home — Is a Condo or a Townhome right for you?
- Do you know what your townhome insurance covers?
- FHA loans and Condos — important to know the rules
Let’s start with the explanation of a single family home. The most common type of home in Colorado Springs is a single family
home. These are usually detached structures that have one or two or three levels, a front yard and a backyard. Homeowners in a single family home own the home as well as the land that the property sits on.
A townhouse is similar to a house in that the owner owns both the structure and the land. Each townhome has its own roof, in contrast to condominiums. Townhomes can also come with single-family home amenities like garages and backyards for which owners may or may not be responsible for maintaining. Since townhome owners own the land, this means that townhouses can’t be stacked one on top of the other.
Condominiums are usually also attached to one another. If you own a condo, you do not own the land surrounding your condo. A condo owner owns only the unit itself, which is typically taxed as an individual unit. (The Read the rest of this entry »
Sales are brisk for Colorado Springs townhomes
Colorado Spring Real Estate
Market Report for Colorado Springs Townhomes & Condominiums
Search for Colorado Springs Townhomes and Condominiums
Townhomes and Condos in Colorado Springs continues to be a BUYERS Market, as there is currently a 8 month of supply of homes on the market. A 6 month supply of houses on the market is typically considered a “NEUTRAL MARKET“.
- Number of Townhomes and Condos in Colorado Springs sold were only down 1% from 2009 in 2008, but are down substantially from 2006, when 1767 townhomes/condos were sold.
- Average pricing continues to see downward pressure, currently down 7% from 2009 to 2008. 2009 pricing is down 15% from the high in 2006.
- 2010 continues to see more pressure on pricing but units sold is increasing in 2010. The average price in 2010 is currently down 3% from 2009.
Recap of 2010, 2009, 2008, 2007, 2006, 2005, and 2004
|
2010 |
2009 |
2008 |
2007 |
2006 |
2005 |
2004 |
|
| Active |
721 |
|
|||||
| Number of Homes Sold |
1048 |
1056 |
1062 |
1423 |
1767 |
1731 |
1548 |
| Average Sale Price |
$144,100 |
$147,805 |
$158,272 |
$173,372 |
$166,335 |
$152,901 |
$148,947 |
| Average # of house sold per month |
95.3 |
88 |
88.5 |
118.6 |
147.3 |
144 |
129 |
This Colorado Springs Real Estate report contains information on Townhomes and Condomiums in the Colorado Springs Area
This information is taken from the Pikes Peak Realtor Services Corp and is deemed reliable but not guaranteed.
Colorado Springs townhome pricing continues to decline
Colorado Spring Real Estate
Market Report for Townhomes & Condominiums
Search for Colorado Springs Townhomes and Condominiums
Related Articles:
Townhomes and Condos in Colorado Springs continue to be a BUYERS Market, as there is currently a 8.6 month of supply of homes on the market. A 6 month supply of houses on the market is typically considered a “NEUTRAL MARKET“.
- Number of Townhomes and Condos in Colorado Springs sold are only down 1% from 2009 in 2008, but are down substantially from 2006, when 1767 townhomes/condos were sold.
- Average pricing continues to see downward pressure, currently down 7% from 2009 to 2008. 2009 pricing is down 15% from the high in 2006.
- 2010 continues to see more pressure on pricing but units sold is increasing in 2010
Recap of 2010, 2009, 2008, 2007, 2006, 2005, and 2004
|
2010 |
2009 |
2008 |
2007 |
2006 |
2005 |
2004 |
|
| Active |
856 |
|
|||||
| Number of Homes Sold |
790 |
1056 |
1062 |
1423 |
1767 |
1731 |
1548 |
| Average Sale Price |
$144,455 |
$147,805 |
$158,272 |
$173,372 |
$166,335 |
$152,901 |
$148,947 |
| Average # of house sold per month |
98.8 |
88 |
88.5 |
118.6 |
147.3 |
144 |
129 |
This Colorado Springs Real Estate report contains information on Townhomes and Condomiums in the Colorado Springs Area
This information is taken from the Pikes Peak Realtor Services Corp and is deemed reliable but not guaranteed.
If you enjoyed reading this article, why not Subscribe to be notified of the next one?
Kathy (719-287-1049) KTorline@msn.com
Townhomes and Condomiums continue to see downward pressure on pricing
Market Report for Condominium and Townhomes in Colorado Springs
Search for Colorado Springs Townhomes and Condominiums
Related Articles:
- Colorado Springs Home — Is a Condo or a Townhome right for you?
- Do you know what your townhome insurance covers?
- Have townhome prices bottomed out?
- FHA loans and Condos — important to know the rules
Townhomes and Condos in Colorado Springs continue to be a BUYERS Market, as there is currently a 9 month of supply of townhomes and condomiums on the market. A 6 month supply of houses on the market is typically considered a “NEUTRAL MARKET“.
- Number of Townhomes and Condos in Colorado Springs sold are only down 1% from 2009 in 2008, but are down substantially from 2006, when 1767 townhomes/condos were sold.
- Average pricing continues to see downward pressure, currently down 7% from 2009 to 2008. 2009 pricing is down 15% from the high in 2006.
- 2010 continues to see more pressure on pricing but units sold is increasing in 2010.
June 2010 Market report for Colorado Springs Townhomes
Colorado Spring Real Estate
Market Report for Townhomes & Condominiums
Search for Colorado Springs Townhomes and Condominiums
Related Article:
Townhomes and Condos in Colorado Springs continue to be a BUYERS Market, as there is currently a 9 month of supply of homes on the market. A 6 month supply of houses on the market is typically considered a “NEUTRAL MARKET“.
- Number of Townhomes and Condos in Colorado Springs sold are only down 1% from 2009 in 2008, but are down substantially from 2006, when 1767 townhomes/condos were sold.
- Average pricing continues to see downward pressure, currently down 7% from 2009 to 2008. 2009 pricing is down 15% from the high in 2006.
- 2010 continues to see more downward pressure on pricing by units sold is increasing.
FHA loans and Condos — important to know the rules
Colorado Springs Condominiums
Search for Colorado Springs Condominiums
Related articles:
- 5 reasons townhomes make an easy transition from apartment life
- New rules make condo buying harder
- Colorado Springs Home — Is a Condo or a Townhome right for you?
- Do you know what your townhome insurance covers?
Have you heard about the HRAP/DELRAP system? It lists condo developments that meet eligibility requirements set the Federal 
Housing Administration.
If you are interested in a purchasing a Colorado Springs Condo, your ability to get an FHA loan will depend on an “approved” rating by HRAP/DELRAP system.
DELRAP stands for Direct Endorsement Lender review and Approval Process and the rules aim to prevent risky loans. There are a variety of reasons that a complex may be labeled “rejected”:
- More than 15% of homeowners in a development are delinquent on the HOA dues (This could be the result of homeowners in foreclosure)
- One investor or entity owns more than 10 percent of the project
- Less than 50% of the project is either sold or owner occupied
- More than half of the homeowners have FHA loans
You can go to HUD’s web site, and search for information on specific communities, you can even search by zip code. I’m not sure that the database is fully populated, so some developments that deserve a “rejected” rating may still be added.
If you enjoyed reading this article, why not Subscribe to be notified of the next one?
Kathy (719-287-1049) KTorline@msn.com
Have townhome prices bottomed out?
Colorado Spring Real Estate
Market Report for Colorado Springs Townhomes & Condominiums as of March 31, 2010
Search for Colorado Springs Townhomes and Condominiums
Related Articles:
- 5 reasons townhomes make an easy transition from apartment life
- New rules make condo buying harder
- Colorado Springs Home — Is a Condo or a Townhome right for you?
- Do you know what your townhome insurance covers?
Townhomes and Condos in Colorado Springs continue to be a BUYERS Market, as there is currently an 11 month of supply of homes on the market. A 6 month supply of houses on the market is typically considered a “NEUTRAL MARKET“.
- Number of Townhomes and Condos in Colorado Springs sold are only down 1% from 2009 in 2008, but are down substantially from 2006, when 1767 townhomes/condos were sold.
- Average pricing continues to see downward pressure, currently down 7% from 2009 to 2008. 2009 pricing is down 15% from the high in 2006. 2010 pricing has continued the downward trend, and is currently down 9% from 2009. 2009 pricing for Colorado Springs townhomes and condos is down 23% from the high in 2006.
This Colorado Springs Real Estate report contains information on Townhomes and Condomiums in the Colorado Springs Area
This information is taken from the Pikes Peak Realtor Services Corp and is deemed reliable but not guaranteed.
Condomium and Townhome pricing continues to see downward pressure
Colorado Spring Real Estate
Market Report for Colorado Springs Townhomes & Condominiums
Search for Townhomes and Condominiums
Related Articles:
- 5 reasons townhomes make an easy transition from apartment life
- New rules make condo buying harder
- Colorado Springs Home — Is a Condo or a Townhome right for you?
- Do you know what your townhome insurance covers?
Townhomes and Condos in Colorado Springs continue to be a BUYERS Market, as there is currently a 8 month of supply of homes on the market. A 6 month supply of houses on the market is typically considered a “NEUTRAL MARKET“.
- Number of Townhomes and Condos in Colorado Springs sold are only down 1% from 2009 in 2008, but are down substantially from 2006, when 1767 townhomes/condos were sold.
- Average pricing continues to see downward pressure, currently down 7% from 2009 to 2008. 2009 pricing is down 15% from the high in 2006.
Colorado Springs townhomes, pricing continues to decline
Colorado Springs Townhomes and Condos
Related Articles
Sales continue to be brisk in 2009, and it looks like they will end the year higher in 2009 than 2008. But pricing has continued to see downward pressure.
Signs of Stability In the Colorado Springs Townhome Market
Colorado Springs Townhomes
Market update for September 2009
Search for TownHomes in Colorado Springs
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The Colorado Springs Townhome market continues to be a BUYERS Market, as there is currently an 8.1 month of supply of homes on the market, but the supply of townhomes on the market continues to decline, which is a sign of stability. A 6 month supply of houses on the market is considered a “NEUTRAL MARKET”. 819 townhomes have been sold in 2009 vs. 869 for the same period in 2008; a decrease of 6%. Average Pricing has continued to decline from 2009 to 2008.
Colorado Springs townhomes currently have 9 months of inventory on the market
Colorado Springs Townhomes
Search for Townhomes in Colorado Springs
Average townhome SOLD pricing in 2009 is very similar to SOLD pricing in 2005
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Townhome market in Colorado Springs is finally starting to pick up
Colorado Springs Townhomes and Condos – June 2009 Market Report
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The Colorado Springs townhome and condo market continue to be a BUYERS Market, as there is currently a 8.7 month of supply of homes on the market. Read the rest of this entry »
Colorado Springs townhome and condo sales continue to be slow, down 28% for the year
Colorado Springs Townhomes and Condos
Must Read Article: Townhome bargains in Colorado Springs
Search for Townhomes and condos in Colorado Springs
The Colorado Springs townhome and condo market continue to be a BUYERS Market, as there is currently a 11.6 month of supply of homes on the market. A 6 month supply of houses on the market is considered a “NEUTRAL MARKET”. 427 townhomes/condos have been sold in 2009 vs. 579 for the same period in 2008; a decline of 28%.
Current Market Read the rest of this entry »
Colorado Springs Townhome condo market report for April 2009
Colorado Springs Townhomes and Condos
Must Read Article: Townhome bargains in Colorado Springs
Search for Townhomes and condos in Colorado Springs
The Colorado Springs townhome and condo market continue to be a BUYERS Market, as there is currently a 12.5 month of supply of homes on the market. A 6 month supply of houses on the market is considered a “NEUTRAL MARKET”.
| 1-1-2009 to 4-30-09 | 2008 | 2007 | 2006 | 2005 | 2004 | |
| Number of TownHomes Sold | 276 | 1062 | 1423 | 1767 | 1731 | 1548 |
| Average Sale Price | $136,802 | $158,272 | $173,372 | $166,335 | $152,901 | $148,947 |
| Average Days on Market | 121 | 104 | 98 | 92 | 75 | 70 |
| Total Active | 853 | 775 | 888 | 882 | 650 | 625 |
| Average # of townhouses sold per month | 69 | 64.5 | 74 | 73.5 | 54 | 52 |
Current Market Activity as of 4-30-09
- Active: 853
- Under Contract and Pending: 197
- Absorption Rate: 69 townhomes per month, a 12.3 month supply of townhouses currently on the market
This Colorado Springs Real Estate report contains information on Condo/Townhomes
This information is taken from the Pikes Peak Realtor Services Corp and is deemed reliable but not guaranteed.
If you enjoyed reading this article, why not Subscribe to be notified of the next one?
Must Read Posts:
- Buying a home in Colorado – what you should know about making an offer
- How does days on market affect home prices in Colorado Springs?
- Manitou Springs is still a Buyer’s market for homes
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To find out more information about selling or buying a townhome or condo in Colorado Springs and Manitou Springs
Call Kathy (719-287-1049) or Nancy (719-659-4380)
Ktorline@msn.com or Nancy.shakeshaftslack@gmail.com
Townhome pricing continues to decline in Colorado Springs
Colorado Springs Townhomes and Condos
Must Read Article: Townhome bargains in Colorado Springs
Search for Townhomes and condos in Colorado Springs
The Colorado Springs townhome and condo market continue to be a BUYERS Market, as there is currently an 13 month of supply of homes on the market. A 6 month supply of houses on the market is considered a “NEUTRAL MARKET”.
New rules make condo buying harder
Colorado Springs Condos — just got harder to buy
Search for Condos in Colorado Springs
Fannie Mae has instituted new rules when it comes to giving loans for condos. If the building is brand new, they want to make sure there 
are enough owners to pay for maintenance and preserve the value of the property. These new rules are designed to protect the buyers and lenders but they could also make it harder for the owners to sell them.
Fannie Mae will only guarantee mortgages in new or newly converted condos if 70% of the units are sold or under contract. That 70% could be hard to reach if buyers cannot get financing. In older units, Fannie Mae will not guarantee a mortgage if more than 15% of the other owners are delinquent on the HOA fees.
Fannie Mae wants to reduce the risk for lenders and protect buyers from Read the rest of this entry »
Colorado Springs Homes, August Market Report for Condo/TownHomes
Colorado Real Estate, Recap of August 2008 Activity
Condo/TownHomes
Search for townhomes and condos in Colorado Springs
Related post: Nightmare for new home owners — liens filed against property
Condo/TownHomes Sold in the last month: 97 (32.2% decline from 2007)
-
Condo/TownHomes Sold in August 2007: 143
Average Sales Price: Read the rest of this entry »
