Mariana Wagner

2008 Annual Powers Area Colorado Springs Real Estate Information – Sales Price Data

The Powers Area Colorado Springs Real Estate market saw a 2008 annual average sales price of about $208,242 and an annual average median sale price of $201,377. The Powers area of  Colorado Springs is a newer area that covers all areas east of Powers Blvd., west of Marksheffel Blvd., north of Platte Avenue and south of Woodmen Road and includes the large neighborhoods of Stetson Hills and Springs Ranch.

Here we see how this was broken down by month:

Powers Area Colorado Springs Homes were getting the highest prices in June of 2008, at an average sale price of $231,630. The lowest sale prices was in December of 2008, at an average of $182,417.

Buyer Tip: There is a dramatic difference between average sale prices in Summer vs. those in Winter. Which leads me to believe that buying a home in the colder months would yeild a better deal for someone looking to buy a Powers Area home.

Seller Tip: 23% of homes in Stetson Hills (one of the largest parts of the Powers area) are in some stage of foreclosure. You may be able to get a higher price for your home if your competition is a short sale, because short sales can take a long time to close (if they close at all) and many home Buyers are not that patient, thus willing to pay MORE to close quicker. However, if your competition is a bank owned home, you will have a harder time getting more money from the sale of your home, as bank owned homes are generally cheaper and can close quick.

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

The 2008 Powers Area Colorado Springs real estate market saw an annual average list price/sale price ratio of 97.8%.

Buyer Tip: Homes in the Powers area sell for very close to asking price – Sellers are quite realistic. Throwing out low-ball offers may not be the best idea in this area.

Seller Tip: You will be more likely to get close to asking price if you are willing to help home buyers pay for closing costs. Closing costs generally run at about 3% of purchase price.

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

March 5th, 2009 by Mariana Wagner | Leave A Comment

This entry was posted on Thursday, March 5th, 2009 at 8:32 am and is filed under Market Reports, Powers. 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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