Colorado Springs Realty Patricia Beck

Homes sales increased by 15% in El Paso County for the month of May when compared to April 2009. Home sales should continue climbing now that we have entered the busy time of year for real estate in Colorado Springs.

There were only eight additional single family home sales in May 2008 when compared to total single family home sales for May 2009. There were also an additional 1,354 single family homes on the market back in May 2008!

The average ($220,983) and median ($189,130) sales price increased when compared to the previous month of April. Once the number of sold foreclosure properties decrease, we should see the average and median sales price in Colorado Springs continue to increase.

The real estate market is improving and if you are thinking to purchase a home don't delay; interest rates are beginning to climb again as are home prices.

*Information gathered from the Pikes Peak MLS is deemed reliable but not guaranteed

Patio homes are included in these stats

Colorado Springs Real Estate information and services

Home inventory increased by 1.8% for the month of May 2009 when compared to six months ago (December 2008). Compared to the previous month of April, there was a slight increase (.6%) in single family homes for sale. It is good that we are seeing inventory levels remaining steady while home sales are increasing; this will ultimately reduce the months of inventory in Colorado Springs.

Single Family Home Inventory in the Pikes Peak MLS has also decreased by 21% when comparing May 2009 to May 2008!

Looking at stats for May 2009, Single Family Home inventory in the Pikes Peak MLS is sitting at 6 months (compared to 7 months in April). We have not seen the inventory as low as 6 months June 2007! There is a balanced market in Colorado Springs when inventory sits at 6 months; it appears the market is improving for sellers.

*Information gathered from the Pikes Peak MLS is deemed reliable but not guaranteed

Patio homes are included in these stats

Colorado Springs Real Estate information and services

Home sales in El Paso County were highest during the summer months and then gradually dropped the remainder of the year in 2008. Looking back at 2008, the average sale price was lowest in November ($213,466) and highest in June ($256,829). The average median price was lowest in December ($180,000) and highest in July ($223,950). The average sale price dropped toward the end of the year due to the increased foreclosure and short sale properties in Colorado Springs. There were a total of 8,339 single family home sales in 2008 compared to 9,995 in 2007.

*Information gathered from the Pikes Peak MLS is deemed reliable but not guaranteed

Patio homes are included in these stats

For more information on Colorado Springs Real Estate or the Colorado Springs Area contact me or visit my website.

1. Internet exposure- With over 90% of buyers going to the Internet as their main source for finding homes, you can't afford not to have your home on the Internet. If you plan to sell your home, it is important you ask your agent about their marketing plan to sell your home. If marketing your home online is not part of an agent's marketing plan you should probably look for another agent.
   
   
2. Cooperation- Many deals fall apart in real estate when parties do not cooperate with one another. Of course your agent needs to negotiate on your behalf but there are many areas where uncooperativeness can make selling your home extremely difficult. Extended restrictions on showings can be an enormous barrier in the selling of your home. Being unreasonable or disrespectful while working with your agent is unproductive. Additionally, delayed responses to emails,voicemails, or signing of paperwork during a transaction, can result in the buyer moving on to another property.



3. The right price- If you plan on selling your home, it is pertinent you are realistic about what your home can sell for in the current real estate market in your area. Overpricing your home in this market can consequently result in your home sitting instead of selling. It is difficult for many sellers to avoid becoming emotionally involved in the sale of their home; therefore, it is prudent sellers hire a real estate agent whom they can trust for guidance when it comes to pricing their home correctly.



4. A hardworking agent- Take the time to interview a few agents in order to find someone who not only is knowledgeable about the market in your area, but whom you also feel comfortable communicating with. This is so important as you and your real estate agent will be working closely throughout the process of selling your home.



5. A buyer- No, not just any buyer. A pre-qualifed, or even better, pre-approved buyer who can afford your home. What information has your agent acquired about the buyers? Are they stable? Are they serious about purchasing a home? Do they have another home to sell before they are able to purchase your home? Do they look good on paper? Ensure you are working with an experienced agent who will stay in touch with the buyers' lender throughout the transaction.

If any of these five things are missing from the equation, selling your home will become a difficult task. If you are not serious about selling your home in this market, now is not the time to "test the market." Testing the market will only waste the valuable time of those involved, including your own.

Providing real estate information and services for Colorado Springs home buyers and sellers.

Home inventory decreased by 22.1% for the month of January 2009 when compared to August 2008. Looking back to 2008, we the highest number of Single Family Homes for sale in June which is not surprising since inventory is normally highest during the summer months in Colorado Springs.

Single Family Home Inventory in the Pikes Peak MLS has also decreased by 9% when comparing January 2009 to January 2008.

Looking at stats for January 2009, Single Family Home inventory in the Pikes Peak MLS is sitting at 11.9 months (compared to 10 months last month). Colorado Springs will reach a balanced market when inventory drops down to 6 months.

*Information gathered from the Pikes Peak MLS is deemed reliable but not guaranteed

Colorado Springs Real Estate Agent, Patricia Beck, providing real estate services to home buyers and sellers.