Colorado Springs Vintage Homes Blog
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It’s all about the price reductions
Colorado Springs Real Estate Market Updates
Date: October 25, 2010 – November 1, 2010
Search for new Home Listings in Colorado Springs
Related Articles:
- Northwest Homes are seeing an increase in pricing
- Housing sales in Central Colorado Springs have continued to increase
- Colorado Springs housing market is starting to see the inventory decrease
Here is a quick recap of the Market Activity for last week in the Colorado Springs Real Estate market according to the Pikes Peak Association of Realtors MLS system as of November 1, 2010.
One interesting observation, there are currently 6,025 houses for sale in the Pikes Peak area, and 559 of these listings, almost 10% of them, did a price reduction yet again last week. This is on top of the 10% of homes that did a price reduction during the last 2 weeks. The market is very price sensitive right now and sellers are finally understanding its all about the price.
| New Listings | 276 |
| Back on the market | 57 |
| Price Reductions | 559 |
| Pending Transactions | -199 |
| Sold Transactions | -223 |
| Withdrawn from the Market, and Cancelled | -31 |
| Expired Transactions | -224 |
| NET GAIN/LOSS (LISTINGS) | (111) |
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To find out more information about Colorado Springs, Call ……
Kathy (719-287-1049) KTorline@msn.com
Colorado Springs realestate market snapshot, May 14th
Colorado Springs realestate market — update for May 14th
For a free market analysis on your neighborhood and home, Email Kathy at KTorline@msn.com
I often times say to my clients that real estate changes on a day to day basis, here’s a quick summary of yesterday’s changes in the market.
Kat’s observations
- 10 of the new listings are in the Southwest Area
- The average Price reduction was $12,500, and the majority of them were in the Southwest and Northwest area
- All of the closed listings were on the West side of town
This information is taken from the Pikes Peak Realtor Services Corp and is deemed reliable but not guaranteed.
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Kathy (719-287-1049) KTorline@msn.com
What really happened to our prices?
Colorado Springs Housing Report
Search for homes in Colorado Springs
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Kathy (719-287-1049) KTorline@msn.com
Manitou Springs Housing Market Report, 2009
Housing Market Report for Manitou Springs, Single Family Homes
Includes Homes in Crystal Hills
Homes in Manitou Springs continue to be a Buyers Market, as there is currently a 10.1 months of supply of homes on the market. A 6 month supply of houses on the market is typically considered a “NEUTRAL MARKET”.
- Number of Homes in Manitou Springs sold are down by 18% in 2009 vs. 2008. When comparing the high of 90 homes sold in 2006, unit sales are down by 43%.
- Average pricing continues to see downward pressure, currently down 2% from 2009 to 2008. Pricing is actually down 32% from the high of $326,257 in 2007.
Read the rest of this entry »
2009 Colorado Springs Market Report for homes in Southwest
Market Report for Single Family Homes in Southwest
Includes Homes in Broadmoor Bluff, Cheyenne Meadows, Quail Ridge, Broadmoor
Search for homes in Southwest Colorado Springs
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- Number of Homes in Southwest Colorado sold are up in 2008, but are still down substantially from 2005, when 801 homes were sold.
- Average pricing continues to see consistent downward pressure, currently down 16% from 2009 to 2008.
- Average days on market has continued to increase from 97 to 91.
Colorado Springs Real Estate, 2009 Market Report for Northwest Area
Colorado Spring Real Estate
Market Report for Northwest – Single Family Homes
Includes Homes in Rockrimmon, Mountain Shadows, Peregrin, Pinecliff
Homes in Colorado Springs Northwest continue to be a NEUTRAL Market, as there is currently a 4.1 months of supply of homes on the market. A 6 month supply of houses on the market is typically considered a “NEUTRAL MARKET”.
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Number of Homes in Northwest Colorado Springs sold are almost the same as 2008, but are down substantially from 2005, when 532 homes were sold.
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Average pricing continues to see downward pressure, currently down 12% from 2009 to 2008.
Colorado Springs Real Estate on road to recovery
Colorado Springs Real Estate on road to recovery
Forbes magazine recently published an interesting article about “It’s best cities for a housing recovery”. According to the article some metro areas are more on their way to recovery than others. Forbes looked at 161 metro area and their top 5 list of cities includes Colorado Springs:
The Rankings
1. Miami, FL
2. Lincoln, NE
3. Colorado Springs, CO
4. Salem, OR
5. San Luis Obispo, CA
According to the article, foreclosure home sales in Colorado Springs are only 20% of the transactions and sales activity is up 14%. Not sure if I agree with their analysis, as in some zip codes in the city foreclosures sales are only 5% and in other areas, it’s probably closer to 40%; but regardless it’s always nice to see national recognition in a positive way for Colorado Springs.
If you enjoyed reading this article, why not Kathy (719-287-1049) KTorline@msn.com
Northwest Colorado Springs home sales remain strong
Colorado Spring Real Estate – Market Report for Northwest
Single Family Homes
Search for Homes in NorthWest Colorado Springs
The Northwest housing market continues to be a BUYERS Market, as there is currently a 8.4 month 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. 160 Single family homes have been sold in 2009 vs. 186 for the same period in 2008; a decline of 16%.
Recap of 2009, 2008, 2007, 2006, 2005, and 2004
| 1-1-2009 to 6-30-09 | 2008 | 2007 | 2006 | 2005 | 2004 | |
| Number of Homes Sold | 160 | 317 | 370 | 473 | 532 | 546 |
| Average Sale Price | $294,572 | $339,804 | $363,946 | $354,585 | $327,587 | $301,114 |
| Sales Price to List Price | 96.1% | 96.7% | 97.4% | 98.8% | 98.2% | 98% |
| Average Days on Market | 112 | 95 | 78 | 67 | 57 | 44 |
| Average # of house sold per month | 26.7 | 26.4 | 30.8 | 39.4 | 44.3 | 45.5 |
Current Report Read the rest of this entry »
First Quarter 2009 Market report for homes in West Colorado Springs
Colorado Spring Real Estate - West area – Market Report – Single Family Homes
Includes Homes in Pleasant Valley and Kissing Camels
For a free Buyers Guide, Email Kathy Torline at KTorline@msn.com
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The West housing market continues to be a BUYERS Market, as there is currently an 9.25 month of supply of homes on the market. A 6 month supply of houses on the market is considered a “NEUTRAL MARKET”. Sales units are ONLY down 1% from 2008 to 2007, but pricing is down more than16% from 2008 to 2007.
Recap of 2009, 2008, 2007, 2006, 2005, and 2004 Read the rest of this entry »
Explanation of Days on Market
Search for Homes in Colorado Springs
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The definition of Days on Market (DOM) is the quantity of days a property has been on an Active status in the multiple listing service. The average days on market for homes in Colorado Springs in 2008 is currently 90 days; but this number varies neighborhood-by-neighborhood and it varies by different price categories. As an example:
- Briargate Days on Market: 99
- Central Days on Market: 79
- Manitou Springs Days on Market: 124
- Northwest Read the rest of this entry »
Downtown Colorado Springs Homes, July Market Report
Search for Homes in Colorado Springs
Single Family Homes in Downtown Colorado Springs were built from 1900 to the 1940’s. The majority of the houses are ranches and 2-stories, with 2 to 3 bedrooms, 1 -25 baths, and 1 – 2 car garages. The a
average home has approx. 1000 to 1750 square footage. The absorption rate of .85 houses per month shows that there is a 11.71 month supply of houses on the market; the housing market is currently a BUYERS MARKET in this area.
Central Downtown area neighborhood is located in District 11 Schools
Central Downtown homes are:
- Close to Fort Carson
- Close Read the rest of this entry »
