Here is a close look at the median sales price of Colorado Springs homes (and surrounding El Pso County areas) from January-June 2000-2008.

For the first time this decade, the Colorado Springs real estate market has seen a DECLINE in median sales price in the first half of the year. The median sale price for homes in Colorado Springs in 2008 is closer to the prices that we were seeing in 2005.

Attention Colorado Springs Home Owners:

If you bought a home in Colorado Springs in 2006 and 2007, chances are you have not seen any appreciation and may even be seeing a bit of depreciation in your property. If you DID buy a home in 2006 or 2007 (and even 2004 and 2005) you should not SELL your home unless you absolutely have to. IF you have to, then be prepared to bring money to the table at closing.

"What if I'm Facing Foreclosure and NEED TO Sell Now?"

If you are in a situation where you bought your home in 2004-2007 and can no longer afford your mortgage payments, and need to sell to avoid a foreclosure, you may qualify for a short sale. If this is the case, then time is of the essence. Contact a Colorado Springs real estate agent who specializes in short sales and foreclosures and get the ball rolling ASAP. Or, call us - the Wagner iTeam at 719-434-7525. We have an entire department dedicated to helping our sellers who are facing foreclosure and are working through a short sale of their Colorado Springs Home.

What About Buying a Home for Sale in Colorado Springs?

However, since prices HAVE dropped, it may be a good time for you to BUY a home in a Colorado Springs. Even if you take a loss in selling your current home you could easily make it up in the purchase of your next home. Many wise real estate investors will say that you will make the MOST money when you BUY correctly, and BUYING a home in the current Colorado Springs real estate market may be a great option for you.

Ultimately, the current Colorado Springs real estate market is telling us:

• If you bought your home in 2004-2007, now is NOT a good time to sell.
• If you bought your home in 2004-2007 and MUST sell, you will either need to bring money to the table at closing, or else you may qualify for a short sale.
• Now would be a great time to buy a home for sale in Colorado Springs.

Based on information from the Pikes Peak REALTOR Services Corp. ("RSC"), for the period January 2000 through June 2008. 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.

Posted By: Mariana Wagner - Colorado Springs Real Estate Agent - Wagner iTeam
The Wagner iTeam is a power team of Keller Williams Clients Choice Realty,
specializing in Colorado Springs Real Estate and Monument Real Estate
Pictures of Colorado Springs