Here is a snapshot of the Colorado Springs Real Estate Market for March, 2007.
Average Days on Market (DOM): 94
This is up 4 days from February.
High DOM: FAL at 170 Days. Compared to 103 DOM in February.
Low DOM: MAN at 48 Days. There was no data for MAN in February.
Comment: It looks like we are holding steady at the 3 month mark for days on market – which means that we are still in a pretty solid Seller’s Market.
Average Sale Price (SP): $271,833
This is up from $251,098 in February.
High Sales Price: S/W at $470,757 (In February S/W Average SP was at $371,332)
Low Sales Price: S/E at $137,000 (In February S/E Average SP was $137,588)
Comment: Our average sales price has jumped by over $20,000 since February. But is only a few thousand dollars more than the average sales price in January ($266,734).
List Price to Sale Price Ratio (LP/SP): The data for this was skewed, as one area showed a LP/SP ratio of 193.72%. There is no way that this is correct, so here are just the low and high ratios:
High LP/SP: BLA at 101.08% (Up from 98.85% in February)
Low LP/SP: S/W at 93.97% (Down from 97.68% in February)
Comment: Since my data source was obviously skewed, these numbers may be off. The April Market Report will be more accurate. However, we continue to have pretty strong LP/SP ratios, which means that houses are being priced to sell more often than not. The only thing that this does not take into consideration is price reductions before offers come in.
To get a specialized market report for your neighborhood, please send your request to RealtyScoop@Gmail.com.
[KEY: BLA = Black Forest (Very Northeast of Colorado Springs), 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), 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]