The Wheaton Team

VIDEO AVAILABLE: Peak Producer June 2011 Real Estate Statistics empiretitle

December home sales in Colorado Springs reversed a recent trend, and increased 1% over sales from December of 2009. Prices continued to strengthen, up 4.4% at $232,939, and the median (1/2 above, 1/2 below) up 3.1% at $198,500. The 90th percentile was $390,000. The stronger sales can be attributed in part to the low interest rates of the October and November time frame, when many of December’s closings were written initially as contracts. It remains to be seen whether this will be a trend into the new year, or is simply a blip.

The inventory of unsold homes increased by 9.74%, a smaller increase than in prior months, and reflecting an 6.89 month supply of homes at the December selling rate. This compares favorably with figures of the earlier part of 2010 and most of 2009. The Selling Price to List Price Ratio was 97.55%, well in line with longer term averages.

The percentage of homes disclosed as distressed was 21.62%, or 136 homes.

For more details, see the Colorado Springs Homes Sales Trend Data

“Based on information from the Pikes Peak REALTOR Services Corp. (“RSC”), for the period 1/1/05 through 12/31/10 . RSC does not guarantee or is in any way responsible for its accuracy. Data maintained by RSC may not reflect all real estate activity in the market.