Home listings and home sales are down year over year in the Colorado Springs area, according to new numbers released today by the Pikes Peak Association of Realtors.
Only 8,138 homes were listed for sale on the multiple listing service in the first half of 2011 compared to 9,847 in the first half of 2010. That’s a 17.4 percent drop in new listings.
While sales activity has also dropped off, it fell much less than the number of listings, indicating that the ratio of buyers to sellers is improving. The number of sales in the first half of 2011 dropped 5.8 percent to 4,107 from 4,361 in 2010, according to the association’s numbers.
The average sale price of single-family homes for the first half of 2011 fell 3.2 percent from 2010 levels and the average price of townhomes and condos fell 2.9 percent, according to the association’s monthly report.
The number of new listings dropped slightly from 1,417 in May to 1,400 in June, according to the report