Colorado Springs Realtor - Cherise's Blog: December 2012 Comparables to December 2011 – Colorado Springs Real Estate Statistics

December 2012 Comparables to December 2011 – Colorado Springs Real Estate Statistics

Market Surge

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.

Comment balloon 3 commentsCherise Selley • January 25 2013 10:28AM

Comments

This is pretty much the case all over, Gordon.  Prices up.  Sales up.  Inventory down.  We need sellers to start putting their homes on the market.

Posted by Jane Peters, Los Angeles real estate concierge services (Home Jane Realty) over 7 years ago

Gordon, I ditto what Jane says.  The dominate theme across many areas is low inventory and increasing prices. We are seeing a market similar to 2005 ... but largely driven by a different cause. At least today, buyers need to actually qualify for their loans! 

Posted by Kathleen Daniels, Probate & Trust Specialist, Probate Real Estate (KD Realty - 408.972.1822) over 7 years ago

Gordon,

I think everyone is reporting similar comps.  Wishing you and Cherise a great weekend. A

Posted by Ron and Alexandra Seigel, Luxury Real Estate Branding, Marketing & Strategy (Napa Consultants) over 7 years ago

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