The monthly real estate statistics reports for Colorado Springs are out from the Pikes Peak Association of Realtors, here is a quick summary (comparisons are with November 06):
Single Family Sales, down 17.7% at 667 units
Average Price, down 3.9% at $252,074
Median Price (1/2 above, 1/2 below), down 3.5% at $207,500
Active Inventory, up 10.5% at 5,967

No doubt we are still in a real estate recession, but these numbers are not awful, all things considered, for a few reasons:
1. The median price is actually up slightly from last month, and virtually identical to November of 2005
2. The average days on market for homes that actually sold was only 96, and for El Paso County sales it was only 92.
3. The ratio of selling price to list price was 96.9%, and for some more popular areas such as Briargate and the East area, this was still over 98%.

With interest rates now into the 5's, we are beginning to get positioned for recovery. While this may last a little longer, the builders are not feeding the problem by building a lot of spec homes, and with a few tweaks from the government on FHA refinancing and rate adjustment caps on ARMs, this time will likely be remembered as the time "I should have bought".