Listing and Sales Summary – October 2011 – Colorado Springs Real Estate

When looking at the Listing and Sales Summary for October 2001 (provided by the Pikes Peak REALTOR® Services Corp), this Colorado Springs CO Realtor would like to share a few thoughts to consider.

• I didn’t actually anticipate that there would be an increase in home sales by 12.8% from last month; and when comparing October 2011 to October 2010, that there would also be a staggering 20.1% increase in home sales as well.

• As single family/patio home sales increased from 672 units to 758 from September to October this year, there is also a nice twist regarding the slight increase of 1.4% in average sales prices. The trend has slightly shifted from what we’ve seen with more increased home sales. Typically, we’ve seen a drop in average sales prices when more homes are sold, but for October, there is a reversal of this pattern.

• Total active listings dipped under the 4,000 mark to 3,959, something I haven’t personally seen for quite some time. And more specifically, 5.6% less than last month’s volume of 4,196, and a whopping 22.7% less volume from last October of a reported 5,124.

Personally, I believe this market is poised for many good things to happen, particularly given the fact that the listing inventory is very low as compared to the projected population growth of El Paso County. Another thing I’ve noticed is that my buyer pool is also waiting for more listing inventory to hit the market before he or she plans to get off the fence about making his or her next purchase.

To top it off, the interest rates are at historic lows, but as importantly, the actual sales pricing at $221,534 bodes well for just about any buyer who is seriously looking to purchase a residential property for home use or investment purposes.

Although there is certainly worthwhile concerns about the economic health of Greece and its impact on the global economy, the real estate market in Colorado Springs continues to prove to be one of those places in the US where the buyer’s and seller’s personal economy might be sparked with optimism and opportunity.

Feel free to contact Colorado Springs Realtor, Cherise Selley, Broker/Owner of Selley Group Real Estate, LLC or you may contact our group of Colorado Springs Realtors @ www.selleygroup.com or 2139 Chuckwagon Rd, Ste 210 - Colorado Springs, Colorado 80919 - 719. 598. 5101

All agents affiliated with Selley Group Real Estate, LLC are actively licensed in accordance to the laws of Colorado.

Portions of this article are written by Gordon, as framed by the expressed opinions of Cherise, but not proofread.

“Based on information from the Pikes Peak REALTOR® Services Corp. (RSC), for the period October 2010 through October 2011. RSC information may not reflect all real estate activity in the market and is provided as is without warranty or guaranty.”