When looking at the Listing and Sales Summary of single family/patio homes for July 2012 (provided by the Pikes Peak REALTOR® Services Corp), this Colorado Springs CO Realtor would like to share a few thoughts to consider.
I don’t know about you, but what I do know about the State of Colorado is that we Coloradoans have endured some major tragedies over the past two months. First, there was the Waldo Canyon Fire. Only to be followed by a human tragedy of epic proportions from the movie theatre shootings in Aurora.
Nonetheless, the world continues to march to its own drumbeat, moving steadily passed the sense of death and destruction on to greener pastures of life.
From the Colorado Springs Real Estate standpoint, I happen to reside in Mountain Shadows Colorado and rebuilding is underway. The houses with smoke damage have either been remediated or are in the process of recovery. Demolition crews are working on the properties filled with soot and ashes. We are starting to see sprouts of green coloration throughout the landscape, since we’ve had some good rains throughout July.
Regarding the market in terms of sales, we continue to see lower amounts of inventory in the lower price ranges, specifically below $250 K, thus available listings are moving like hotcakes off the grill. Essentially, low bids are senseless in this price range as it remains to be a strong Seller’s market.
Many buyers in the lower price range still fancy “value” when it comes to their home purchases. If the inventory does not provide their needs below $250K, then the numbers show that more buyers are moving upwards in the higher price ranges with their home purchases.
And the buzz of activity is not limited to the lower price ranges. Sales numbers are amongst the momentum dynamic in all ranges.
Overall sales are 21.9% higher over the same monthly period when comparing July 2012 to July 2011. The same dynamic applies to the average sales prices, which help determine the actual market value. Our averages sales price is 5.0% higher than last year, $236,062 to $224,776.
So what are current Sellers doing? Are they rushing to their Colorado Springs Realtor to list their properties and cash in on the equity swing in the market? Simply, the answer is no. They are taking the appropriate steps to fix up their homes with upgrades, and many realize that the market still fosters an attitude of competition. Non-stages homes do not typically sell as fast or garner as high as offers as homes that are properly staged.
Current total active listings for July 31st are 3,830, which is slightly up 3.4% from the previous month. This is an indication of healthy, but steady growth in the market.
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 July 2011 through July 2012. RSC information may not reflect all real estate activity in the market and is provided as is without warranty or guaranty.”