Listing and Sales Summary – December 2011 – Colorado Springs Real Estate

By
Real Estate Broker/Owner with Selley Group Real Estate, LLC

home listing inventory

 

Listing and Sales Summary – December 2011 – Colorado Springs Real Estate

When looking at the Listing and Sales Summary of single family/patio homes for December 2011 (provided by the Pikes Peak REALTOR® Services Corp), this Colorado Springs CO Realtor would like to share a few thoughts to consider.

The Colorado Springs Real Estate market is actually a pretty good market, when considering how many other markets across the United States have been devastated by mortgage-backed securities and the bursting of the housing bubble a few years ago.

The world continues to face what seems like insurmountable challenges, which does seem to create havoc on our human psyches as we continue to carve out our ways to live during these modern times. Part of living includes things like shelter, food, healthcare and clothing. We all need these things to properly sustain life. And as a result, real estate is very much part of our lives despite some bumps in the road of life.

Here’s what I’ve noticed about the real estate in Colorado Springs, starting this 2012 year that can help you determine whether or not this is the right market for you to purchase or to invest in your next piece of property:

  • The market absorption rate is 5.06 months, meaning that this is not a buyer-dominated market beginning this year. In fact, I’ve noticed that my buyers have noticed that there is a shortage in selection of homes on the market for them to make an offer at this time.
  • To validate my first point, our total active listings was down 24.1% from last December 2010. The current active listings on our market is 3,285, a low number I haven’t seen for many years.
  • The average sales price dropped 3.5% from last month to $210,688. Quite frankly, this is not surprising given the remarkable sales numbers for December.

The good news is that our market is not super-stacked with overpriced listings on the market, for instance, a number of around $10,000, which seems to be widespread in other markets. On the other hand, I’m not sure what to exactly make of our market having under 3,330 homes listed at this time. Only to say that I think this is very good news for future home values.

Sure supply and demand play their roles in the economics of real estate. There is pinned-up demand with the suppressed inventory levels, and because of this, I anticipate that home values will creep up in certain neighborhoods because of the shortage of homes available for sale. After discussing these factors and perusing over the trends since 2007 with my colleague, Benjamin Day, the real preposition we need to consider is “if.”

If the listing inventory levels are closely approximated to the actual sales that occur in 2012, then I anticipate that there will be an increase in the home values somewhere around the latter portions of 2012, which is consistent with the PMI index about home stabilization pricing levels for Colorado Springs.

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 December 2010 through December 2011. RSC information may not reflect all real estate activity in the market and is provided as is without warranty or guaranty.”

 

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Rainmaker
1,310,214
Ron & Alexandra Seigel
Luxury Real Estate Marketing
ra@napaconsultants.com

Gordon,

I love that the trend is "not a buyer dominated market!".  This bodes well for the Selley Team in Colorado Springs!  All the best, A

January 12, 2012 04:19 PM
Rainmaker
495,435
Cal Yoder
Homes For Sale in Lancaster PA - 717.413.0744
Keller Williams of Central PA East

That is a great absorption rate. That is much more of a balanced market and it is good information to have to buyers. Hope you are getting some of that business. Have a great day.

Cal

January 12, 2012 05:05 PM
Rainmaker
556,060
Cherise Selley
Colorado Springs Realtor
Selley Group Real Estate, LLC

Ron & Alexandra,

We believe our market is really poised for some great activity, and of course, we will have our fair share to serve... g

January 12, 2012 06:07 PM
Rainmaker
556,060
Cherise Selley
Colorado Springs Realtor
Selley Group Real Estate, LLC

Cal,

No worries.  We're part of the top-tier among our local Realtors.  And I say this with humility, in that we have worked very hard to be in this place, as God has opened doors for us ever since 1997... g

January 12, 2012 06:09 PM
Rainmaker
657,668
Eileen Hsu
LICENSED REAL ESTATE SALESPERSON
Douglas Elliman Real Estate

Nice Analysis Gordon. Sounds like sellers are very reasonable and realistic in setting their price with the agents so the market is not flooded with overprice listings.

January 13, 2012 12:26 AM
Rainmaker
254,306
Connie Goodrich
CRS ABR (McKinney Realtor)Texas
Keller Williams Realty

I love when the tide turns and the market inventory dictates more value to the existing inventory and hopefully equates to higher prices for the seller.  We are down on our inventory levels now and it gives me great discussion as those who want to wait for the spring season .. why wait when more competition is present, why not try to seize that anxious buyer who has limited choices?  Hope the positive trend continues for your area!

January 13, 2012 09:26 AM
Rainmaker
556,060
Cherise Selley
Colorado Springs Realtor
Selley Group Real Estate, LLC

Eileen,

I don't think Sellers plan on bending to unrealistic pricing expectations, according to Cherise.... g

January 13, 2012 03:51 PM
Rainmaker
556,060
Cherise Selley
Colorado Springs Realtor
Selley Group Real Estate, LLC

Connie,

We believe housing values will increase, especially during the 4th quarter this year... g

January 13, 2012 03:51 PM
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Rainmaker
556,060

Cherise Selley

Colorado Springs Realtor
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