The Colorado Springs Real Estate market has seen a significant drop in home sales when comparing the January-June timeframes from 2000-2008. In fact, we have seen less home sales in Colorado Springs in the first half of 2008 than we have seen since before 2000.
A breakdown of how many homes have sold in Colorado Springs from Jan-Jun, 2000-2008:
Comparing Active Listings vs. Sold Homes in the Colorado Springs real estate market:
Let's compare this with the active inventory for the same time periods. The following graph compares average monthly active listings vs. the average monthly sales from January-June time periods from 2000-2008 in the Coloradao Springs real estate market:
Not only are we seeing a drop in home sales of over 300 per month, compared to 2005 and 2006, but we are also seeing an increse in inventory of about 2,000 more active listings per month than 2005. More homes and less sales. Ouch for Colorado Springs home sellers.
What percentages of homes are selling in the Colorado Springs real estate market?
The percentages of homes that sold from Jan-Jun 2008 are about HALF that of the sales in the respective time frames in 2004-2006, and lower than we have seen all decade.
Now, more than ever it is important for home sellers to make sure that their Colorado Springs real estate agent is agressive with pricing, smart about home staging and highly knowledgeable about your local Colorado Springs neighborhood real estate market.
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Posted By: Mariana Wagner - Colorado Springs Real Estate Agent - Wagner iTeam
The Wagner iTeam is a power team of Keller Williams Clients' Choice Realty, specializing in Colorado Springs Real Estate and Monument Real Estate.
(719) 434-7525
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Advocates for Consumer Empowerment in Real Estate. Real Estate Brokers for Colorado Springs & Monument, Colorado. We love where we live & we love what we do. ColoradoSpringsRealEstateConnection.com
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Mariana - this was a very useful analysis for sellers. Not encouraging information, of course, but good for them to know. It echoes what I think we have seen in many other parts of the county.
Jeff