Straightforwardly stated, one particular positive I note about the October Statistics for the Colorado Springs Real Estate market of Single Family/Patio Homes is that the total active listing inventory continues to decrease from month-to-month. Comparing September of this year to October, the total active listings have decreased 7.8% from 5,556 to 5,124. In all likelihood, Realtors in Colorado Springs can expect a continual drop in the active listing inventory throughout the rest of the 4th quarter this year.
In consideration of the cumulative YTD (Jan-October 2009 v. Jan-October 2010) summary, here are a few positive trends:
- Total sales for single family/patio homes reveal a slight increase of sales from 7,005 the year before to 7,328 this year, which is a 4.4% increase of actual sales.
- Total sales volume (single family/patio homes) for the matching periods (Jan through October) is down only about 0.4% from last year.
Missing from the PPMLS data are variables that negatively influence market contraction such as shadow inventory, short sales in process and future job creation. On the other hand, there are also positive considerations not readily apparent in the market activity like hyper-localism (smaller pockets of areas that maintain value – less likely and slightly insulated from distressed sales), value stabilization, investment opportunities and historically low interest rates.
To purchase Colorado Springs Homes for Sale, feel free to contact our Colorado Springs Realtors at Selley Group Real Estate, LLC: 2139 Chuckwagon Rd, Ste 210 – Colorado Springs, Colorado 80919 – 719. 598. 5101
“Based on information from the Pikes Peak REALTOR® Services Corp. (RSC), for the period October 2009 through October 2010. RSC information may not reflect all real estate activity in the market and is provided as is without warranty or guaranty.”
Portions of this article are written by Gordon, as framed by the expressed opinions of Cherise, but not proofread.
