Listing and Sales Summary – June 2012 – Colorado Springs Real Estate
When looking at the Listing and Sales Summary of single family/patio homes for June 2012 (provided by the Pikes Peak REALTOR® Services Corp), this Colorado Springs CO Realtor would like to share a few thoughts to consider.
Personally, I believe the Waldo Canyon Fire had an impact on some proposed closing transactions that were scheduled for the end of June – especially when considering insurance coverage requirements. Yet, while many are focused on the downside due to the fire, Colorado Springs also dealt with a large hailstorm earlier in June. And when combining both of these natural phenomena to happen within a few weeks of each other in Colorado Springs, you might suspect that the number of closed transactions for the month of June would have declined drastically because of these natural occurrences (if you disregard the possibility of arson). And yes, the numbers are slightly off, but in the long run, we are ahead of projected gains. In reality, very good things are happening in Colorado Springs Real Estate.
- The numbers are up! When I elude to up, I am specifically referring to average sales prices, which have shot up 5.5% since May ($233,065 to $245,938). Also, the median sales price is 14.2% higher than last year at this time.
- Other significant ups involve the trend in actual sales prices of homes. Supply and demand economics are in play. The inventory of listings under $200K is slim pickings, and buyers are making purchases in higher price ranges, specifically there is a 46% increase in home purchases from the $200s all the way up to the $500s.
All indicators point to the fact that our market is a Seller’s market, not a Buyer’s market, as some buyers are finding out this reality after having offered too low on their bids to acquire residential property.
Another Piece of Advice - don't give into those signs by the roadside that imply it's time to allow other companies to buy your home no matter what, even if your area has been affected by the Waldo Canyon Fire. These companies, for the most part, are preying on those with tactics of fear. The truth of the matter is this. Devastated areas, as seen in California and Florida, and now Colorado, will likely have an increase in their value once rebuilding begins again. As for us, we anticipate an increase in the value of our home, which is located in Mountain Shadows, between $50,000 to %75,000 over the next 24 months.
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 June 2011 through June 2012. RSC information may not reflect all real estate activity in the market and is provided as is without warranty or guaranty.”