Preliminary Colorado Springs real estate sales data for March show a continued strong buyers market. Here are some of the early statistics. These are obviously subject to revision when the Pikes Peak Association Realtors releases official reports by Monday of next week, but these should be very close:
Sales 722 homes, down 19% from March of '07
Average (Mean) Price $236,514 down 7.2% from March of '07
Inventory 5883 up 3.9% over March of '07
Foreclosure / Short sale transactions represented about 25.6% of sales, and about 11.5% of the existing inventory, down slightly from January and February.
In addition, the Gazette reports this morning that foreclosure filings were 488, a record month. Things have not turned around yet!