Pikes Peak region home sales spring forward

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Pikes Peak region first quarter 2010 home sales statistics reflected an invigorated market.

Pikes Peak Realtor Services Corp. reported that through March area the Pikes Peak region recorded 723 closed residential sales.

That’s up almost 28 percent from the same month last year.

At the same time, March sales prices trended upward. The median sales price – the point at which half of all sales were higher and half were lower – is now $189,900, up 2.6 percent from $182,200 a year ago. Even better, median prices rose 4.3 percent from February’s level.

Average single family home sales prices for March were also up from $206,780 a year ago to $211,775 last month – a 2.4 percent increase.

Townhomes didn’t fare quite as well, showing a 1.7 percent decrease on a year-over-year basis.

Some credit for increased activity has been given to the government’s home buyer’s tax credit incentive, set to expire at the end of April. But other factors, such as five months of consecutive city sales tax revenue increases – up 3.38 percent in March 2010 from March 2009 – underscored the first signs of a spring recovery.