Mariana Wagner

2008 Annual Eastside Colorado Springs Real Estate Information – Sales Price Data

The Eastside Colorado Springs Real Estate market saw a 2008 annual average sales price of about $182,552 and an annual average median sale price of $168,833.

Here we see how this was broken down by month:

Eastside homes were getting the highest prices in March of 2008, but not by a huge margin.

Buyer Tip: Eastside neighborhoods are pretty homogeneous and therefore do not vary much in price or competition. If you are looking to buy a home in the Eastside of Colorado Springs you will find that your choices will be a tri-level, bi-level or ranch style home built in the 1960’s or 1970’s. What is really going to make a home stand out is if it has been recently updated.

Seller Tip: Make sure that your home is priced right along with (or below) the competition, as eastside homes are not varied enough to command too much more money than the competition. However, a nicely renovated eastside home will probabaly sell quicker, even if it does not sell for a lot more money.

The following graph shows the difference between what a Eastside Colorado Springs home was listed for (list price/asking price) compared to what it actually sold for in 2008:

The 2008 Eastside Colorado Springs real estate market saw an annual average list price/sale price ratio of 95%.

Buyer Tip: Based on this graph, Eastside home sellers tend to overprice their homes by 5% … So you may want to take this into consideration when making an offer.

Seller Tip: If you look at your competition when your REALTOR® places your home on the market, consider pricing your home 5% UNDER the competition. This will almost guarantee you a boat load of showings and more than likely – a full priced offer, especially if your home is in great condition. With all the similar homes for sale in this area, make sure your home is in the best condition possible.

Read Also:

• 2008 Annual Eastside Colorado Springs Real Estate Information – Homes for Sale
• 2008 Annual Eastside Colorado Springs Real Estate Information – Average Days on Market

“Based on information from the Pikes Peak REALTOR Services Corp. (”RSC”), for the period Jan.1 – Dec.31, 2008. RSC does not guarantee or is in any way responsible for its accuracy.  Data maintained by RSC may not reflect all real estate activity in the market.”

February 6th, 2009 by Mariana Wagner | Leave A Comment

This entry was posted on Friday, February 6th, 2009 at 5:55 pm and is filed under Eastside, Market Reports. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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