Colorado Springs Real Estate

The Colorado Springs real estate market is experiencing difficult times as is the rest of the country, but appears to be stabilizing due to the recent influx of military troops to the town. Local companies have issued reports of new jobs over the next few years. There has never been a better time to move up into the home of your dreams because interest rates are still at record lows and homes can be found at a bargain.

According to RealtyTimes, Colorado Springs in El Paso County shows the following statistics from the Pikes Peak Association of REALTORS:

- Listings Sold: 490 (January – 480)

- Median Sale Price: $200,000 (January – $200,000)

- Average Sale Price: $231,121 (January – $236,939)

- Average days on market: 97 (January – 98)

- Total Active Listings: 4,675 (January – 4,528)

- Median List Price: $250,000 (January – $247,898)

- Average List Price: $346,047 (January – $338,604)

The Colorado Springs housing market was significantly slower in 2007 than in prior years and property inventory was up by roughly 25%. New construction starts have slowed and it’s considered to be a buyer’s market. Spring 2008 brings 5,571 single family homes on the market in the Pikes Peak region. Additionally there are approximately 1000 condos for sale in the area. Nice resell homes on the market are taking an average of three-to-six months or longer, to sell.

New home sales have dropped in Colorado Springs, CO and home prices are decreasing as the market continues to slow. It’s a great time to find good deals on properties in El Paso County. There are many foreclosure homes on the market.