Market Update Feb 2012
By Luther
March 9, 2012

Sales were up compared to last February with an increase of 14.7%. There are currently 3224 active single family listings on the market in the Pikes Peak region compared to 4315 last year in February, which is a 25.3% decrease. New listings on the market were down by 6.1%. The average sales price was down 9.8% compared to last February. With supplies down and demand up for several months in a row the market is improving.

The median single family sales price was down 7.2% in February 2012. Last year's median number was $190,457 and this year's February stat was $176,750. 

There are currently 84 active condo/townhomes listings on the market compared to 625 last year in February, which is a 38.6% decrease. Sales were up in February by 12.2% compared to Feb 2011 and up 9.2% compared to last month. The average purchase price for condo/townhomes was down 4.8% to $120,000 compared to Feb 2011 stats.

With demand increasing and sale prices low this is agreat time to jump into the market. If demand keeps up the prices will begin to improve.

Luther Benson - Broker/Owner

Access Real Estate Professionals Inc.

22 Years of Experience

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