Little About Colorado Springs Market
Where is the Colorado Springs Market Heading? I am no statistician by any means, but one can't define the market without looking backwards at the prior month's statics to determine with any certainty where the market is headed.
Great news for the overall market last month partly fueled by the Government Tax Incentive and historical low Mortgage rates falling below 5%, Colorado Springs has experienced a fantasist month. Both the Average Sales Price and Median Sales Price increased 6.8% and 3.9% increased over May 2009.
When comparing the supply and demand the sold inventory has increased 14.2% and the active listings were only up 8.7%. Not very surprising entering the "Summer Selling Season" as inventory historically increases during the summer; but it is to be expected.
While the overall inventory has been higher the last three years many positive elements are on the horizon. Many military personal are starting to return back Fort Carson and Peterson Air Fore Base that will have a dramatic impact in the local economy. Factor in the low interest rates and I expect the market to continue heading in a positive direction. Short Sales and Foreclosures are accounting for just over 25% for the home sales so some great opportunities are available for the Buyer currently entering into the market.
Why colorado springs real estate ?
As the city is recovering economically, it’s the right time to invest in property in Colorado. Colorado has something to offer to everyone. All the basic amenities to the luxury living- the city is the right choice to live and invest in. It is also a paradise for nature-lovers and is a second home to many tourists all across the world. Colorado Springs real estate is booming and will surely yield good returns in the times to come.
Colorado Springs together with Denver has shown the fastest economic recovery after the slow down. Analysts suggested higher number of jobs, production output, and repossessed properties for sale and house prices in this region. With corporate giants, Colorado offers very good employment opportunities. Needless to say it offers a fantastic and quality living. This is the right time for investors to benefit from thriving Colorado Springs real estate.
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