The Colorado Springs Real Estate Housing Market  did well in December of 2007 and is still stronger than many other housing markets in the nation. Colorado Springs homeowners saw a healthy appreciation in 2007 and homes for sale in Colorado Springs are still selling around the 3 month mark.

Let's take a closer look at the data for the Colorado Springs real estate market for December 2007: 

Average Days on Market (DOM): 109
This is UP from 90 days from November.
Median Days on Market: 85 Days
High DOM: MAN at 257 Days.
Low DOM: CEN at 54 Days.  

Comment: MAN (Manitou Springs) only had 2 homes sell in December, causing the average DOM to be extremely high. If you are looking to sell a home in Colorado Springs, you should price it correctly, make sure it is in excellent condition and should expect it to sell in about 3 months.

Read Also: 2007 Colorado Springs Real Estate Market Report: Annual Days on Market Data

Average Sale Price (SP): $259,575
This is UP from $242,739 in November.
Median Sales Price: $203,864
High Sales Price: TRI at $450,531
Low Sales Price: S/E at $162,054

Comment: Although it still holds the lowest average sales price in Colorado Springs, S/E jumped $37,562 from $124,492 average sales price in November!

Read Also: 2007 Colorado Springs Real Estate Market Report: Annual Sale Price Data

• List Price to Sale Price Ratio (LP/SP): 97.19%
• High LP/SP: BRI at 99.67%
• Low LP/SP: BLA at 93.82% 

Comment: BRI (Briargate) is home to the new Colorado Springs neighborhood of Wolf Ranch. (Read More: Colorado Springs Neighborhood Report ~ Wolf Ranch: The Community  and  Colorado Springs Real Estate: Homes for Sale in Wolf Ranch) The relatively high overall LP/SP ratios show that the homes for sale in Colorado Springs are generally priced well, and priced to sell. This is great news if you are looking to sell a home in Colorado Springs.

Read Also: 2007 Colorado Springs Real Estate Market Report: Annual List Price to Sale Price Ratios

In December 2007:

• 535 homes went on the market in Colorado Springs and surrounding areas
• 206 homes went under contract in Colorado Springs and surrounding areas
• 158 homes sold in Colorado Springs and surrounding areas

More Great Reading:
What to Expect from a Competent Listing Agent
Selling Your Colorado Springs Home: The Importance of Proper Pricing from Day One

Check out these previous Colorado Springs Real Estate Market Reports:
Colorado Springs Real Estate Market Report - November 2007
Colorado Springs Real Estate Market Report - October 2007
Colorado Springs Real Estate: Market Report - September 2007

[KEY: BLA = Black Forest (Very Northeast of Colorado Springs), BRI = Briargate (Northern part of Colorado Springs), WES = Westside (West of I-25 and North of Fillmore), OCC = Old Colorado City (Western part of Colorado Springs, off Hwy 24), FAL = Falcon (Woodmen Hills and Meridian Ranch, just east of Colorado Springs, MAN = Manitou Springs - (just East of Colorado Springs), N/E = Northeast Colorado Springs, NGT = Northgate (Northernmost part of Colorado Springs, near the North Gate of the Air Force Academy), S/E = Southeast Colorado Springs, S/W = Southwest Colorado Springs]

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.

Related Posts