Colorado Springs Vintage Homes Blog
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Less Inventory = a more stable Colorado Springs housing Market
Colorado Springs housing inventory is down
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Why should you care that there is less inventory on the market?
Real estate has always been about supply and demand. When there are more houses on the market then the demand, the market conditions start to adjust and pricing goes down. When there is less houses on the market, pricing starts to stabilize and go up. As the information listed below, housing inventory, is down. In fact, it’s way down.
I’m not sure if this means we are going to start to see a rise in pricing, but I do think the market has hit bottom. As usual, time will tell ………………
Existing Single Family Homes on the Market
April 2012 4,433 Sales 2,289
April 2011 4,866 Sales 2,252
April 2010 6,228 Sales 2,382
April 2009 5,304 Sales 2,009
April 2008 6,787 Sales 2,298
April 2007 6,372 Sales 3,007
April 2006 6,114 Sales 2,725
April 2005 6,512 Sales 2,659
April 2004 6,181 Sales 3,068
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Kathy (719-287-1049) KTorline@msn.com
Old Colorado City pricing holding strong
Colorado Spring Real Estate
Market Report for Old Colorado City - Single Family Homes
Includes Homes in Crown Hill Mesa, Gold Hill, Old Colorado City
Search for Homes in Old Colorado City
Related Articles:
The Old Colorado City housing market continues to be a Buyer’s Market, as there is currently a 6.5 month of supply of homes on the market. A 6 month supply of houses on the market is considered a “NEUTRAL MARKET”. Sales are down 22% from 2008 to 2007, but 2008 pricing was only down 1.5% from 2007. Sales are up for 2009 and pricing is holding fairly strong compared to 2008.
The numbers show the Colorado real estate market is improving
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Explanation of Days on Market
One of the many ways all Realtors judge their local real estate market is by the Days on Market. If properties are selling quickly, the market is heating up. If homes take a long time to sell, the market is slow.
Let’s first start with some definitions: Days on Market (DOM) in real estate is defined as the number of days a property has been on an Active status in the Multiple Listing Service. The average days on market for single family homes in Colorado Springs for the last quarter ending September 2009 is currently 77 days. For Condos and townhomes it is 97 days.
But an important thing to remember is this number varies on a neighborhood-by-neighborhood and it also varies by different price categories. As an example:
- Briargate Days on Market: 80 (vs. 99 in 2008)
- Central Days on Market: 64 (vs. 79 in 2008)
- Manitou Springs Days on Market: 75 (vs. 124 in 2008) Read the rest of this entry »
