Hello out there and welcome to another monthly recap. We are going to look at the June 09 Colorado Springs real estate market. So here goes.
New listings: 1530. Up 2.9% from May but down 5.6% from May 08. This is great. Less new listings = less inventory we have to sell of at some point.
Total Active Listings: 4661. Up 2.3% from last month but again down 20.6% from same time last year. Same as above, the faster the inventory declines the faster we get to a balanced market.
Sales: 829. Up 6% from last month and the same % as June 08. So with sales at the same % as last year and inventory down we are making headway on standing inventory.
So where are sales taking place right now. Most of the activity is below 300K and much of the credit for that goes to the first time buyer tax credit. Another area of activity is the expansion of FT. Carson and the soldiers coming in this year.
One of the biggest niches not being capitalized on is the move up buyer. If you own a home at 200K or below and have outgrown it or are just ready for something different now is the time. Scary in this economy but if you have the income and job stability you can sell at 200K or below and purchase at 300K or above and get a great deal. If this is you call me for details 719-233-6453.
As always I welcome your input or questions.
Till next time,
Mike Erhardt