Pueblo West Real Estate Statistics for 4th Quarter 2010

Here are the Pueblo West real estate statistics for 4th Quarter 2010, 10/1/2010-12/31/2010. The figures in parenthesis are from the same time period in 2009. The properties on market figures do NOT include properties under contract.

SINGLE FAMILY
Of the 95 Single Family Sold, 94 were single family homes with 1 condo.

Residential homes sold 4th quarter by price:

9 < $100K
30 between $100-150K
29 between $150-200K
15 between $200-250K
12 over $250K

Residential homes sold 4th quarter by Pueblo West MLS location.

[To describe the Multiple List Service area breakdown, Pueblo West Acreage includes those lots on one acre (+) on the south side of Highway 50, not including the Golf Course area (which has smaller lot sizes), Liberty Point (the areas adjacent to Pueblo Lake boundaries) or Pueblo West East (generally areas east of the first McCulloch with smaller lot sizes). There are two designated manufactured home park areas which are on smaller lots, one on the north side and one on the south side of Highway 50.]

25 Pueblo West Acreage
17 Pueblo West East
11 Pueblo West Golf Course
5 Pueblo West Liberty Point
5 Pueblo West Manufactured Homes
32 Pueblo West N of Highway 50

Over 70% of the homes sold in Pueblo West during the fourth quarter were under $200K reflecting Pueblo West's affordability over Colorado Springs to the north and also reflecting the number of discounted homes due to short sale or foreclosure. Of the 56 residential properties pending sale, 12 are awaiting short sale approval from lender.

MULTI-FAMILY

The 1 multi-family home that sold this quarter was a duplex which sold for $166K. If you can get a loan (or are able to pay cash), it's a great time to purchase investment properties.

VACANT LOTS

Vacant lots sold 4th quarter by Pueblo West MLS location:

2 Pueblo West Acreage
1 Pueblo West East
0 Pueblo West Golf Course
0 Pueblo West Liberty Point
0 Pueblo West Manufactured Homes
5 Pueblo West N of Highway 50

Lot sales continue to reflect the depressed building situation with prices trending downward. If you live in Pueblo West or are a local builder and if you are interested in a particular lot because it is adjacent to your property or you want to build, give me a call. I've talked to many lot owners who want to sell but have decided not to place their lot on the market at this time.

To recap 2010, the residential home sales spiked during the time the $8000 tax credit was available to buyers. However, despite the tax credit, Pueblo West home sales were down overall from the previous year. Sales of vacant lots were down nearly 20% which means that new home starts were less than during 2009. Foreclosure and short sales continue to depress market value. However, now is still a good time to purchase a home. Mortgage rates are expected to slowly increase during 2011. If you plan on selling this year, your house must be in tip-top shape to get the best possible sales price. If you think you've cleaned and de-cluttered enough, go back and clean and de-clutter some more! Complete all deferred maintenance projects, clean out your septic system if you have one, have your insurance company check your roof for hail damage, and if you are still on propane-convert to natural gas.

This will be my last blog for a while. I'm looking at new opportunities outside the real estate world!

All the best,
Deb