Colorado Springs Vintage Homes Blog
719.287.1049
It’s taking longer
Why should you care about Days on Market?
Search for Colorado Springs Homes
Related Articles
Why should you care about Days on Market? Why is this number important? Sellers know that the longer their house is up for sale, the less likely they have of being offered their asking price and are often willing to discuss a lower price. Buyer’s often look at properties and want to know the Days 0n Market; and essentially the longer the property has been on the market, the more buyers think they are in a better negotiating position.
But just as important as the current days on market, is the trend for the days on market. If the days on market continues to drop in a neighborhood, the market is starting to become more of a seller’s market in this particular area; and the more the days on market continue to increase, the more the housing market in this particular area becomes a buyer’s market.
Here’s some of the facts about days on market in Colorado Springs:
- Single Family homes in the Colorado Springs area lingered on the market this year 136 days as of June 30th versus 105 as of June 30th, 2010.
- It took an average of 31 days longer to sell single-family homes in the Colorado Springs area in June 2011 than it did in June 2010.
- The average days on the market for June was 90 days for the 2nd quarter in 2011 vs. 70 days for the same quarter in 2010.
- Denver is currently at 86 days for a house to sale. Phoenix is 106 days on market. Las Vegas is 159 days.
- Breckenridge is 90 days. Pueblo is 125 days. Fort Collins is 59. Aspen is 300 days.
I know I always write articles about real estate is local, but this chart really shows the differences in the Colorado Springs area. The shortest days on market in the area is 78 days in the Southeast, which also happens to be one of the lowest priced areas in the city. The highest days on market are in Black Forest and Manitou; which are areas where the house prices are above the average in Colorado Springs.
If you enjoyed reading this article, why not Subscribe to be notified of the next one?
To find out more information about buying a home or an investment property in Colorado Springs area, call ….
Kathy (719-287-1049) KTorline@msn.com
Colorado Springs Housing market report – Northwest Area as of October 2009
Colorado Spring Real Estate – Market Report for Northwest – Single Family Homes
For a Free Market Analysis on your neighborhood, email Kathy Torline at KTorline@msn.com or call at 719-287-1049
Must Read Article
The Northwest area in Colorado Springs continues to be a BUYERS Market, as there is currently a 8.45 months of supply of homes on the market. A 6 month supply of houses on the market is considered a “BUYER’S MARKET”. Sales were down 15% from 2008 to 2007, but average pricing was ONLY down 6.5% from 2008 to 2007. 289 Single family Homes have been sold in 2009, a decline of 10% from 2008.
