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Report: Real estate inventory and prices down, sales up

Mon, Feb 13, 2012

News

While more homes sold in January of this year than in any January since 2008, the average and median home sales prices hit lows, according to Pikes Peak Association of Realtors data.

The association reported that there were fewer new property listings in January of 2012 than there have been in any other January since at least 2008. There were 1,018 listings this January, nearly a third fewer than the 1,503 in 2008.

The total number of homes for sale fell to 3,156 this January from 4,334 in January of 2011.

Even with those significantly lower inventory numbers, sales were up. The 1,299 properties that went under contract this January showed a sharp increase from the 899 that went under contract in 2008.

Home stayed on the market an average of 101 day in January, down from 103 last January, though still higher than other months.

The average home sold for $204,814, down from $210,879 last January and $211,008 in January of 2010. The median home sales price was $172,250, also down from previous years.

This January 474 homes sold. That’s more than any other January since 2008 when 534 homes sold.

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