Normally this is the time of month we report statistics. The Pikes Peak Association of Realtors seems to be a little behind this month, but I'll take a crack at it anyway, even though I have to disclaim this by saying these are not the official numbers. It looks like our inventory of 5571 unsold homes on the MLS is up 7.1% over last February, not so bad. Sales were down 16.9% at 556 homes. The average price of $226,692 was off considerably (11.1%), and was even down from last month. Part of the problem continues to be the volume of foreclosure properties in the mix, with over 26% of the February sales coming from the bank owned / foreclosure / short sale segment. The average price of these homes is considerably less than the overall averages for the city, coming in at only $159,065.
Oh yeah, "Based on information from the Pikes Peak REALTOR Services Corp. ("RSC"), for the period 2-1-08 through 2-29-08. RSC does not guarantee or is in any way responsible for its accuracy. Data maintained by RSC may not reflect all real estate activity in the market."