How is the real estate market doing in Colorado? (Colorado Springs: homes, income)

[bamboosmom]

Hey everybody,
Just wanted to know if homes are selling in Colorado? Is the market doing well or is it slow slow slow?

[2bindenver]

Like most good answers, it depends on your needs. Generally, Colorado is a large state covering a lot of area. The mountains seem to be a seller's market while the front range is a more of a buyers market.

Did you have a specific locale in mind?

[Mike from back east]

It's generally pretty sound in the Pikes Peak region, with lots of building going on around Colorado Springs. It helps that the Army is bringing in about 12,000 more troops to Fort Carson, a shot in the arm for any real estate market.

My realtor friend works new home sales and she does 16-hour days to handle it. Her husband does the resale market and he says its busy.

The springs did not have a huge run-up in prices as we've seen in "bubble" cities of the northeast corridor (generally DC to Boston), CA, FL and NV, but prices have gone up some.

I've heard that foreclosures in CO are running on the high side, historically.

s/Mike

[bamboosmom]

Thanks for the info Mike. We had a couple down here by us in SW Florida look at our home and loves it. Their deal fell through in Colorado and are now trying to sell their home fast because they want our home. I think they were near that army base too. I sure hope they sell so then I can sell our home!~Bamboosmom

[Mike from back east]

Originally Posted by bamboosmom

.....I sure hope they sell so then I can sell our home!~Bamboosmom

Where are you headed? Thanks! s/Mike

[bamboosmom]

Up to Pennsylvania for more property and be closer to the family.

[CSColorado]

In June, 2006 we had about 5,700 homes active on the market compared to about 4,350 in June of 2005. We have just about the exact same number of sales this year as compared to last year (6,150 as of June). So we have about the same number of buyers and quite a few more sellers. As a result our average days on the market went up from 61 days in June 2005 to 66 in days in June 2006. The average days on the market is continuing to go up, and we will probably start to see prices soften a little. Our average sales price went up from about $252,000 in June 2005 to around $261,000 in June 2006. The market is still good. This is a great place to live, and a very popular place to retire.

[Rodnryl]

Up to Pennsylvania for more property..

Hi Bamboosmom,
Where in Pennsylvania are you looking? We have a home in NW PA on 10+ acres that we are considering putting up for sale. It's located in the southwest corner of Warren County, about 50 road miles from Erie. We would like to move to Florida, my home state, or to Colorado, where my wife grew up.
Where in Florida are you located? Are you near a beach? I grew up in Venice. Let me know if you are interested in our area. This area is called "The Wilds of Pennsylvania" because of the great hunting and fishing. We live literally "over the river and through the woods" in a desirable rural area. One of the great things about our place is we have free natural gas so our only utility bill is the electric. We are not in a big hurry to leave but are open to options. Hope to hear back from you.

[Mike from back east]

Originally Posted by bamboosmom

Up to Pennsylvania for more property and be closer to the family.

One thing to remember about, PA, although it has a state income tax, it does not tax most pensions. For retirees, that's as good as being in FL or NV or a few other states that have no income tax.

Besides, PA is lovely. A huge state with a lot of rural areas where you can get away from it all.

s/Mike