Real Estate

Colorado Springs Homes Market - Seller or Buyer?

FOR SELLERS: Is the Colorado Springs real estate market good, bad or indifferent? The average time on the market plummeted this month by more than 14 days, yet the price difference between list price and sell price also dropped. These statistics clearly indicate the power of buyers for homes in Colorado Springs, but also the willingness of people to sign for a newer property. This is good news in that you can relocate if needed, but the real question is whether or not you will like the sale price.  In general, Colorado Springs buyers do not want to purchase real estate the market has already investigated, but are not afraid to put an offer on the table for newer Colorado Springs properties.

At this point, it appears obvious that pricing a home for sale above the recommend pricing is not recommend.  This market is not up to negotiation based on the statistics we have witnessed the past month. In many cases, your Colorado Springs home buyer is going to negotiate anyway! Listen, do not do this right now if you are truly serious about getting this real estate sold in a buyes market. The first few weeks of a new listing are very important, and after the first month, many times the only way to catch a Colorado Springs buyer's interest is via more dramatic price reductions.  Remember, there are more real estate listings on the market today than in any time in the history of Colorado Springs!  Now is not the time to be asking buyers to get into a severe price war with you!

Your Colorado Springs REALTOR group looks forward to offering you further information in part 3 of this article.  We will discuss Colorado Springs new homes builders and much more!  Stay tuned....