Not everything has the sweet taste of honey when it comes to expecting the Colorado Springs Real Estate market to continue an upward trend in sales, average sales prices and median sales prices on a non-stop basis. Sometimes adding salt to the honey actually makes things turn out better in the long run.
Don’t we all want our prospective real estate markets to rebound sufficiently, then function more healthily as this correlates to values, despite glitches in the overall economy? Regarding our real estate market in Colorado Springs, the taste of honey remains even though there was a hiccup found in the sales reports for November 2012.
When looking at the Listing and Sales Summary of single family/patio homes for November 2012 (provided by the Pikes Peak REALTOR® Services Corp), this Colorado Springs Realtor would like to share a few thoughts to consider.
- The strongest supporting variables about the market are low listing inventory (3,322) and historic low interest rates. Low is the operable word of choice.
- Compared to last year, the numbers look great across the board. New listings are up 13.7%. Actual sales are up 14.9%. And the average sales price is 6.3% higher, specifically at $231,885.00.
- After the election, the fiscal cliff has loomed large on the psyche of the potential buyer and seller. Our market experienced a tightening of the belt with reduced sales of 6.7% since October, as well as corresponding drops in the average and median sales prices.
I anticipate that the numbers will look similarly next month as we close out 2012. Our group of seasoned agents anticipates a great year in 2013, expecting the honey to add sweetened flavor to those who are active in the real estate lifestyle.
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 November 2011 through November 2012. RSC information may not reflect all real estate activity in the market and is provided as is without warranty or guaranty.”