Colorado Springs Realtor - Cherise's Blog: July 2008

Colorado Springs Market Update

Here are the latest MLS summaries from June 2008:

Average Home Price for a Single Family Home is $256,829 (down 7.0% from $276,148 in June 2008).

The total active listings are about at 6,595 which is 4.0% less than last year.

Single Family Sales for El Paso County are down 22.5 from June 2007 (867 sales in June of '08 vs. 1,118 sales for June '07).

One of my favorite appraisers recently told me that she is seeing about 5-10% play in the market on the contracts that come in that she is reviewing.

BUYERS: Interest rates are creeping up to the mid and upper 6's so I recommend that now is the time to buy. Remember that each MLS area has a different list price to sales price differential (for instance in Briargate, homes are on average selling within 97.7% of their list price (after their last reduction).

SELLERS: Don't despair, prepare! Staging, accurate pricing, strong Realtor negotiations, and patience are the key for you to have a successful selling experience. This is not a "test the waters" type of market, so if you can wait until the market picks up, I think it is advisable.

All in all, Colorado Springs is a very desirable place to live and we still have lots of clients moving here from all parts of the country. If you have further questions, call us ... we are here to help!

Comment balloon 0 commentsCherise Selley • July 24 2008 05:21PM
Colorado Springs Market Update
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Here are the latest MLS summaries from June 2008: Average Home Price for a Single Family Home is $256, 829 (down 7. 0% from $276, 148 in June 2008). The total active listings are about at 6, 595 which is 4. 0% less than last year. Single Family Sales for… more
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