July 2006 Statistics for All Listings & Sales

The much anticipated listing and sales summary for July of 2006 has just been released for Colorado Springs, Monument and surrounding areas by the Pikes Peak Board of Realtors. There are some astounding trends in this actual report.

There are 5,985 homes available in Colorado Springs and surrounding areas. This is the highest number of homes available in any month since July of 1988 where there were 6,119 available listings. There were 1211 properties sold in and around Colorado Springs in July this year compared to 1988's 322 sales. The number of available homes may be fairly close but the markets then and now are quite different. Today's market is much stronger.

There are 35% more homes on the market than this time last year with sales down 9%. So what does this mean and how does it effect you?

• Buyers this means more choices and better prices for you. You have a lot to choose from. Foreclosures are a good part of this statistic, so stay clear of any risky financing that could potentially hang you out to dry.
• Sellers this means make sure you have a full service real estate agent who can give you a competitive advantage in this flooded market. Never choose a real estate agent by how much they say they can get for your house. Many agents will say what you want to hear. Choose an agent that can provide realistic data on the value of your property and make sure they have an extensive marketing plan to beat your competition.