As a Colorado Springs realtor, I have heard many new homebuyers lament the fact that they missed the Federal New Homebuyers Tax Credit, which expired on April 30^th of this year.  However, there are some bright spots in the Colorado Springs real estate market.  Remember, the home buyer is not the only party impacted by the expiration of the tax credit.  Sellers who were hoping to strike a deal before the deadline are more motivated than ever to sell.  And as market conditions continue to improve,  Pikes Peak area trends are primarily positive.

For one, home sales are stabilizing throughout the region.  According to the Pikes Peak Association of Realtors, the sale of single family homes has increased by 12% over 2009, with the average sale price going up nearly 4% over last year’s prices.  It may still be a buyers’ market in Colorado Springs, but there is more competition for homes that are fairly priced.  This means you may need to act quickly once you find a home you really want.

Some more Colorado Springs real estate metrics became available earlier this month.  Here is a brief overview:

• The number of days on the market for Colorado Springs homes is improving.  The average number of days on the market for all homes is 78 days, but higher priced properties tend to sit a little longer.
• The average number of days is 206 for homes priced between $500,000 and $849,000 and 329 days for homes priced above $850,000.
• The Colorado Springs real estate market depends heavily on a steady influx of troops to the region’s five military bases, but this is expected to slow down in the fall.  According to the Chamber’s Military Affairs Council, nearly 10,000 of Fort Carson’s 25,000 active-duty soldiers will be deployed by mid-October. A huge deployment like this could have an impact on the number of available homes on the market, which could force sellers to become even more competitive than they are now.
• According to Yahoo! Real Estate, the number of homes for sale in Colorado Springs was 6,318 as of July 19, 2010, with a median price of $214,500.

If you are thinking about investing in Colorado Springs real estate, now is not the time to go it alone.  Enlist the help of an experienced professional real estate agent with an in-depth knowledge of the region.  The brokers at Action Team Real Estate will do more than search the MLS listings; they will personally guide you in finding the home of your dreams.