Mariana Wagner

2008 Annual El Paso County Real Estate Information – Sales Price Data

The El Paso County Real Estate market is made up of the Colorado Springs real estate market, as well as the Fountain, Manitou Springs and Monument real estate markets and encompasses a WIDE variety of home styles and price ranges.

“El Paso County lies in east central Colorado and encompasses more than 2,158 square miles – slightly more than twice the area of the state of Rhode Island (Excluding Narragansett Bay). While the western portion of El Paso County is extremely mountainous, the eastern part is prairie land where dairy cows and beef cattle are the main source of ranchers’ income. The altitude ranges from about 5,095 feet (1569 m) on the southern border at Black Squirrel Creek to 14,110 feet (4301 m) on the summit of Pikes Peak, near the western boundary. The county seat is located in Colorado Springs.” – El Paso County Website

El Paso County saw a 2008 annual average sales price of about $240,713 and an annual average median sale price of $203,713.

Here we see how this was broken down by month:

El Paso County Homes were getting the highest prices in June of 2008, at an average sale price of $258,989. The lowest sale prices was in November of 2008, at an average of $217,394.

Buyer Tip: Consistent with each area within EL Paso County, the lowest prices are in the later part of the year, in the colder months. Better deals can be found during this time.

Seller Tip: An El Paso County home tends to get about $40k LESS (on average 16% less) when sold in the colder months, like November. Remember this when planning on putting your home on the market.

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

The 2008 El Paso County real estate market saw an annual average list price/sale price ratio of 97%.

Buyer Tip: Overall, El Paso County homes are priced quite well. Much of the 3% difference may be attributed to Seller paid concessions, which is often about 3% of purchase price.

Seller Tip: If you want to net the most possible money when selling your El Paso County home, make sure that your real estate agent proveides you with a NET SHEET that includes different scenarios about what you, the seller, may have to pay to entice a buyer to buy your home.

“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.”

Read Also: 2008 Annual El Paso County Real Estate Information – Homes for Sale

February 24th, 2009 by Mariana Wagner | Leave A Comment

This entry was posted on Tuesday, February 24th, 2009 at 9:56 am and is filed under Colorado Springs Real Estate. 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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