Statistics for Homes in Colorado Springs - October 2011

What is the Good, the Bad and the REALITY in the Colorado Springs housing market?
Well, for the month of October 2011 compared to October of 2010
The Number of Active Listings were DOWN 23%,
Sales for the month were UP 20%
The Average Sales Price was down 7%
Sales for the last 3 months were UP 27%
Inventory levels are down from 8.8 to 5.2 months. This is GREAT news!

CUMULATIVE YEAR TO DATE HIGHLIGHTS:
Number of New Listings are down 16% over last year at this time
Sales are up 2% over last year
Average Sales Price is down 4% over last year
Foreclosure Starts are DOWN 26% compared to 2010
GOOD NEWS - 7164 homes have sold thus far this year
852 Condos and Townhomes have sold YTD
Total number of Active Listings: 4423 homes and townhomes/condos
Almost twice as many homes have sold this year as are currently on the market.
Mortgage Interest Rates are nearing or at record lows
Sellers are getting more realistic about their asking prices

LOTS OF GOOD NEWS when looking at the "numbers" with the exception of the downward trend in average sales price. Once again, the lower price ranges are the "hot tickets" in this market. Homes selling for under $225,000 account for 62% of all closings in the past 3 months. The market is a strong "buyers' market" over $300,000 and especially over $500,000.
Homes which are priced right and in tip-top condition are selling for reasonable prices. Additionally, mortgage rates continue to be low, giving buyers real buying power. The reality for sellers is that, regardless of price range, those homes which are selling are those that have a "compelling" price and show like a model home. It remains a great time to take action in the real estate market - great selection, great interest rates, and motivated sellers. As always, if we can be of help with your real estate questions, please call. We'd love to hear from you...

Winter Survival Tips

What to keep in your Car Survival Kit this winter... whether you are on your way to ski in the Beautiful Colorado Mountains, Holiday Shopping or to Grandmother's house you go!
Flashlights & extra batteries
A multi-tool knife
Extra set of clothes, socks, gloves & hats & blankets
Water proof matches & candle - used to help keep warm
Small can - to melt snow for drinking water
Tools - scewdriver, pliers, wrench
Road Flares
Rope
Jumper Cables
Small shovel
Set of tire chains
Bottled water & Food - nuts, dried fruit or energy bars
Cell phone - make sure your cell phone is charged!
Firs aid kit - & know how to use it!
Have a SAFE winter!