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Prices Rising

by The Colorado Springs Group™

After about 4-5 years we are starting to see a rise in prices again. It's nice if it can be attributed directly to some thing such as job growth or a large number of military members coming in, but it seems as though it's solely buyer confidence.

Lending restrictions have started to ease up as well, but it's still much more of a process to get qualified than it used to be. If things can be directly attributed to something specific it's easy to tell how long rising prices might last.

Unfortunately when there is no direct cause it's easy for sellers to just get on board to try to catch the wave of buyers driving prices up. What I would expect to happen is by the end of summer everyone has their home on the market which will cause an oversupply and drive prices back down.

Our market here in Colorado Springs does fluctuate, but for right now it's hard to say how long the rising prices will last. I believe it will last as long as inventory doesn't grow faster than demand. Changes in interest rates will affect buyer thinking as well.

2012 Entire Year's Sales Activity

by The Colorado Springs Group™

Broken down by area to give a better prospective on the results for the entire year of 2012. Single Family & Patio Homes

Black Forest: 187 Sales for a total dollar volume of $74,574,328

Briargate: 611 Sales for a total dollar volume of $178,148,599

Central: 593 Sales for a total dollar volume of $101,494,527

East: 593 Sales for a total dollar volume of $102,593,055

Fountain Valley: 1155 Sales for a total dollar volume of $202,379,174

Falcon - Peyton: 526 Sales for a total dollar volume of $123,022,091

Marksheffel: 115 Sales for a total dollar volume of $24,648,088

Northeast: 829 Sales for a total dollar volume of $180,019,162

Northwest: 324 Sales for a total dollar volume of $102,155,832

Northgate: 345 Sales for a total dollar volume of $123,503,197

Old Colorado City: 184 Sales for a total dollar volume of $31,730,788

Powers: 898 Sales for a total dollar volume of $179,987,997

Southeast: 510 Sales for a total dollar volume of $64,054,097

Southwest: 487 Sales for a total dollar volume of $165,070,120

Tri-Lakes: 456 Sales for a total dollar volume of $175,768,689

West: 177 Sales for a total dollar volume of $47,933,595

"Based on information from the Pikes Peak REALTOR Services Corp. ("RSC"), for the period 1/1/2012 through 12/31/2012.  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."

 

Fourth Quarter Sales Activity

by The Colorado Springs Group™

Broken down by area to give a better prospective on the results from the fourth quarter of 2012. Single Family & Patio Homes

Black Forest: 41 Sales for a total dollar volume of $17,684,020

Briargate: 137 Sales for a total dollar volume of $14,182,405

Central: 116 Sales for a total dollar volume of $18,243,615

East: 147 Sales for a total dollar volume of $27,150,138

Fountain Valley: 307 Sales for a total dollar volume of $54,702,004

Falcon - Peyton: 145 Sales for a total dollar volume of $34,628,767

Marksheffel: 29 Sales for a total dollar volume of $6,233,083

Northeast: 216 Sales for a total dollar volume of $47,048,577

Northwest: 67 Sales for a total dollar volume of $20,230,700

Northgate: 88 Sales for a total dollar volume of $30,004,207

Old Colorado City: 42 Sales for a total dollar volume of $7,415,039

Powers: 205 Sales for a total dollar volume of $42,278,464

Southeast: 116 Sales for a total dollar volume of $14,795,226

Southwest: 133 Sales for a total dollar volume of $48,124,413

Tri-Lakes: 117 Sales for a total dollar volume of $44,917,954

West: 51 Sales for a total dollar volume of $13,093,717

"Based on information from the Pikes Peak REALTOR Services Corp. ("RSC"), for the period 10/1/2012 through 12/31/2012.  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."

 

2012 December Sales Activity

by The Colorado Springs Group™

Broken down by area to give a better prospective on the results from December 2012. Single Family & Patio Homes

Black Forest: 15 Sales for a total dollar volume of $6,683,543

Briargate: 36 Sales for a total dollar volume of $10,555,157

Central: 34 Sales for a total dollar volume of $5,046,226

East: 42 Sales for a total dollar volume of $7,346,150

Fountain Valley: 98 Sales for a total dollar volume of $17,376,981

Falcon - Peyton: 46 Sales for a total dollar volume of $11,000,441

Marksheffel: 13 Sales for a total dollar volume of $2,654,998

Northeast: 77 Sales for a total dollar volume of $16,193,219

Northwest: 16 Sales for a total dollar volume of $4,518,600

Northgate: 32 Sales for a total dollar volume of $11,780,815

Old Colorado City: 10 Sales for a total dollar volume of $1,927,588

Powers: 66 Sales for a total dollar volume of $13,724,562

Southeast: 39 Sales for a total dollar volume of $4,950,390

Southwest: 44 Sales for a total dollar volume of $17,880,945

Tri-Lakes: 37 Sales for a total dollar volume of $13,339,864

West: 14 Sales for a total dollar volume of $3,972,506

"Based on information from the Pikes Peak REALTOR Services Corp. ("RSC"), for the period 12/1/2012 through 12/31/2012.  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."

 

Home Shopping Online

by The Colorado Springs Group™

Home shopping is a lot easier than it used to be. Can you imagine asking your Realtor to look through a book with black and white listings to see a picture of a home that might meet your criteria?

Now, you can do it yourself if you choose. Home shopping online is something many people enjoy doing, just because you can do it with some privacy and at your own leisure. Some people start looking a year or more ahead of time!

You can use sites like Realtor.com, Zillow or Trulia (keep in mind these sites are not what they seem), use the MLS or a Realtor provided portal, or just an IDX page that a Realtor has. It's easy to save listings, rate them, etc. and share that with your Realtor.

It's very enjoyable for us to discuss listings with people because it really opens up options and causes creative thinking. It's more productive when all sides can see the information and pictures when discussing how to proceed with showings. It's just like planning a trip.

Displaying blog entries 1-5 of 5

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The Colorado Springs Group™
6665 Wild Indigo Drive
Colorado Springs CO 80923
(719) 799-3686

Kevin & Jessica
The Colorado Springs Group
6665 Wild Indigo Drive
Colorado Springs, CO 80923
(719) 799-3686