Real Estate

Colorado Springs Homes For Sale - by the numbers

The Colorado Springs homes market, in the first half of 2007, was significantly slower than in the previous 2 years. Inventory was up close to 25% and we saw new construction slow down rather significantly.  It was certainly a buyer's market and it appears that we arre seeing that trend continue into the second half of 2007 and probably into the 1st half of 2008!

- As we are well into the summer months, here are some Colorado Springs real estate ponderings: 
1. The Colorado Springs market is expecting more military relocation over the next 12 months, but interest rates are also starting to rise.  This may offset some of the positives that military influx will create.
2. Colorado Springs currently has more than 7,000 single family homes for sale  and around 1,100 townhomes and condos currently on the market. (these are 30 year highs)
3. The state of Colorado has one of the highest foreclosure rates in the country!  Nearly 1 home in every 60 went into foreclosure.
4. June 2007 inventory was up 20% over June 2006, While sales were down more than 15%.!

All of these numbers seem to indicate one thing: 
It is or will soon be a Colorado Springs real estate investors dream environment developing here.  The positives of Colorado Springs far outweigh the negatives and this is why it is believed that the market here will make a solid comeback at some point in the future.

If you are interested or know of someone who might be interested in moving into this area.  Please have them contact a Colorado Springs REALTOR.  Having a buyer represent your interests in the state of Colorado is 100% free to you as a buyer.  Do not view a home without representation as it just does not make good sense to approach a real estate agent representing a seller without your own agent looking out for your interests.