This analysis is brought to you by Bill McAfee of Empire Title of Colorado Springs.
The simple equation to remember about the Colorado Springs Real Estate market is this. Demand is outpacing supply, which means that the low levels of inventory are driving the prices of homes upward.
How high, you might think to yourself? Well, today’s buyers can expect the same type of pricing trends of what Colorado Springs Real Estate demonstrated in 2005. Yet, the environment is even more ripened for buyers because interest rates are typically under the 3.7% mark.
One thing to keep in mind for 2013 is that the title companies and lenders have been bombarded by over 1,100 pages of regulations. These extreme regulations are sure to cause some bottlenecks in the system. That’s why it is critical to find a Colorado Springs Realtor who provides full-time service in this industry.
The numbers speak for themselves on the chart below.
2012 YTD vs. 2011 YTD
• Average Price UP 4.9%
• Median Price UP 6.9%
• Residential Units UP Sold 8.7%
• Inventory Levels DOWN 25.2%
• Number of Listings DOWN 19.3%
• Foreclosures DOWN 4.1%
• Interest Rates are at historic lows
Feel free to contact Colorado Springs Realtor, Cherise Selley, Active Licensed 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
Portions of this article are written by Gordon, as framed by the expressed opinions of Cherise, but not proofread.