The Wheaton Team

April 2012 Market Conditions

admin — Thu, 03 May 2012 22:31:07 +0000

April home sales in Colorado Springs were UP 4.8% from last year, at 784 homes sold. Prices also rose, with the average up 2.6%, and the median (1/2 above, 1/2 below) up 4.1%. The 90th percentile was $378,000, indicating continued weak activity in the higher end homes. The inventory of unsold homes dropped 26.3% to 3,377 homes, which is a 4.3 month supply at the April sales rate. 6 months is thought by many to be a sign of a ‘normal’ real estate market. This is the lowest number of active listings on the market in April in 12 years, since April of 2000. The Selling Price to List Price Ratio was 96.9%, well in line with the longer term trends, but the highest in 2 years.
The percentage of homes disclosed as distressed was 15.3%, or 120 homes. Due to new short sale reporting rules at the Pikes Peak Association of Realtors, this figure will likely be more accurate than in prior years, as previously many short sales in particular were under-reported. This compares with 23.7% of sales in April of 2011, a significant improvement.
Colorado Springs home buyers are continuing to take advantage of low interest rates, which have been consistently in the upper 3′s. Low long term mortgage rates and higher rent prices are making the decision to buy rather than rent MUCH more attractive at this time.
“Based on information from the Pikes Peak REALTOR Services Corp. (“RSC”), for the period 1/1/05 through 4/30/12 . 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.” Copyright © 2012 REALTOR® Services Corp.

Land For Sale in Kings Deer!

admin — Thu, 26 Apr 2012 17:43:11 +0000

Fun Event in Tri-Lakes!

admin — Thu, 26 Apr 2012 17:25:12 +0000

Here is a fun event coming up in the Tri-Lakes area! Check out the Tri-Lakes Time Trial Bicycle Race on Saturday, May 5, 2012. Register online until May 2nd: Register Here!

Townhome for Sale!

admin — Mon, 23 Apr 2012 21:13:12 +0000

Take a look at this townhome in Colorado Springs!

Market Conditions

admin — Tue, 03 Apr 2012 21:37:16 +0000

March home sales in Colorado Springs were down 6.8% from last year, at 723 homes sold. There were over 1700 sales pending at month end. Prices recovered nicely however, showing the first year to year increases since February of 2011. The average was up 2.7%. For more information, contact us at 719-536-4581.

February 2012 Real Estate Statistics Video

admin — Wed, 21 Mar 2012 18:49:21 +0000

VIDEO AVAILABLE: Video for 2012 Real Estate Statistics from Empire

February 2012 Real Estate Update

admin — Mon, 05 Mar 2012 22:48:41 +0000

Sales were up 14.7%, Average price was down 9.8%, Median down 7.2% . The inventory is staying low for the moment, down 26.4% at 3,174 single family and patio home listings, and right at about 6 month supply for the current selling rate. For more information, contact us at 719-536-4581

Small Town Holiday Events

admin — Thu, 03 Nov 2011 22:17:01 +0000

Enjoy the start of the holiday season this year by participating in one of the many Tri-Lakes area events. We have lived in the Tri-Lakes area for many years and find the charm of the holiday festivals hard to resist! The historic town of Monument starts the holiday season with a Christmas Tree Lighting at Limbach Park on Friday December 2^nd at 4:30 pm. The next day, there is a Small Town Christmas with events taking place from 10 am to 2 pm. We hope you will find time to get out and join in the festivities!

Thinking about purchasing land near Colorado Springs?

admin — Thu, 27 Oct 2011 21:25:29 +0000

If you are thinking of buying land near Colorado Springs, please read this article with ideas of what to avoid and what to look for when purchasing land!

Military Relocation Tips

admin — Thu, 20 Oct 2011 22:43:32 +0000

The Wheaton Team offers a Military First Discount program! Please click here for more information on this program.