The Colorado Springs Real Estate Housing Market is stronger than many other housing markets in the nation. We have seen an increase in days on market, but homes for sale in Colorado Springs are still selling around the 3 month mark, and even selling for very close to asking price. Let’s take a closer look at the data: 

Average Days on Market (DOM): 90
This is UP from 85 day from October.
Median Days on Market: 91 Days
High DOM: WES at 144 Days.
Low DOM: FAL at 33 Days.  

Comment: FAL jumped from the highest DOM to the lowest DOM in just one month; Proof that the Colorado Springs Real Estate market conditions are always changing. Even the highest DOM are under the six month mark, which is great news if you are looking to sell a home in Colorado Springs.

Average Sale Price (SP): $242,739
This is DOWN from $258,207 in October.
Median Sales Price: $219,162
High Sales Price: NGT at $494,227
Low Sales Price: WES at $123,000

Comment: NGT is home to the new Colorado Springs Neighborhood of Flying Horse; offering full custom luxury Colorado Springs homes for sale on the new golf course.

List Price to Sale Price Ratio (LP/SP): 97.17%
Median LP/SP Ratio: 97.05 %
High LP/SP: OCC at 99.32%
Low LP/SP: S/W at 94.93% 

Comment: 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. However, make sure that you hire a competent real estate agent that will price your home effectively to begin with.

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

In November 2007:

·         577 homes went on the market (F/V had the most new homes on the market at 90 homes)

·         257 homes went under contract (F/V had the most homes go under contract at 38 homes)

·         136 homes sold (PWR had the most homes sold at 18 homes)

Comment: F/V is home to the Fort Carson Army Base and because of the high level of families relocating to Fort Carson, there are often more homes for sale in Fountain than in other Colorado Springs neighborhoods.

For more information on the Colorado Springs Real Estate Market, please check out our recent market reports:

Colorado Springs Real Estate Market Report – October 2007
Colorado Springs Real Estate: Market Report - September 2007
Colorado Springs Real Estate: Market Report - August 2007

Read Also:
The BEST Times to Buy and Sell Real Estate in Colorado Springs

[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  - Wagner iTeam – Colorado Springs Real Estate – Monument Real Estate

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