You may be thinking that conducting an MLS search in Colorado Springs is something you would only do if you were ready to look at some properties, but it can also be used as a tool to decide whether you are ready to enter the real estate market.

If you’re not familiar with the neighborhoods in Colorado Springs, you can get a snapshot view of them by visiting the Pikes Peak MLS (PPMLS).  The PPMLS also offers regular monthly updates on home sales in the area.  In November 2010, for example, the PPMLS reported that the number of active listings for single family homes is up 13.2% from the same time last year.  They also reported a 12% decrease in the number of single family homes sold compared to November 2009.  This decline occurred because last year the Federal New Homebuyers Tax Credit was still in effect, and was set to expire at the end of the month.  Even though it was later extended through April, many homebuyers closed their new home sales last November. 

An MLS search in Colorado Springs will tell you which neighborhoods are dragging down the averages, and which ones are experiencing a true recovery.  It’s simple matter of looking at the current listings in a given price range or neighborhood and making note of the number of active listings, as well as how long they’ve been on the market. 

Despite the increase in active listings and reduction in homes sold, the average sale price of a single family home is up 8.7% over last year to $229,036.  Current conditions show continued strength as buyers take advantage of historically low interest rates.  Overall, Colorado Springs homes priced under $350,000 are selling the fastest.

The Colorado Springs MLS allows you to search by neighborhood, price range, number of bedrooms, and more.  You can even specifically look for waterfront or golf course properties.  When you work with a realtor from Action Team Realty, you will stay current with the best real estate opportunities in Colorado Springs, and conduct regular MLS searches for Colorado Springs on their web site from your home or office.