What was the market like in Colorado Springs and the Pikes Peak region for 2010?
The year started off with increased sales numbers over 2009, mostly attributed to the $8000 first time home buyer tax credit. Sales were up and prices began to increase in the first two quarters.
Sales began to fall off starting in July but for the 2010 calendar year, sales were down only 6.4% compared to the 2009. New listings averaged 3.2% more than last year.
The Average purchase price actually ended up 5.3% to $229,152 for single family homes compared to last years stats.
The condo/town-home market average price didn’t fare so well ending down 19.3% for 2010.
The median sales price is the statistic that shows us the middle price. That is to say the same number of homes sold below this price as above. The median single family sales price for the Pikes Peak region ended up 3.1% for the year to $198,500.
The sales volume in dollars was down for the year by 1.4% for total dollars sold $1,875,609,120 compared to $1,903,156,860 last year.
What will 2011 bring? Only time will tell us but with the economy improving we should have some more good news on the housing front. 2011 will still be a good year to buy and sell real estate.