Market Update

Posted by: | Posted on: June 20, 2017
Well, I enjoy to report the overall energetic listings on the marketplace has actually returned to an affordable quantity. In January there were 5401 energetic listings which is an increase from Jan 07 of 6.9% yet a sharp decrease from months past where our regional Colorado Springs market experienced a sharp boost in real estate supplies of 20% over ins 2014 numbers. In October-Novermber time frame our property stocks for single household residences was up to 7000 energetic listings for the Pikes Top MLS (which includes Colorado Springs).

 

The variety of sales lowered from January 07 to January 08 by 20.7% but I anticipate this to enhance with the decrease in prices. The ordinary cost decreased 7.1% and also the median cost reduced 5.3% compared to last January. See break down here at this channel R-E-M.

 

If you consider 2007 averages compared to 2006 standards it is pretty good. Although sales were down 16.1 % the ordinary acquisition rate was just down.3%.

 

What will the market hold for 2008? Will it be terrific in 08?

 

The regional market in Colorado Springs has actually not seen the massive swings that markets like The golden state, Nevada, and also some locations of the eastern coast have actually experienced. We have been honored to see sluggish, stable solid development in Colorado Springs and also all of El paso and Cashier areas. Some areas around the country have seen 20-35% increases on an annual basis recently and also are currently seeing 20-35% declines in their housing markets.

 

Colorado Springs and the Pikes Optimal region have actually seen a typical growth price in the real estate market of 7% given that 1992. Subsequently we have not seen the huge declines that a lot of the rest of the country has seen in acquisition rates.

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