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DOLLARS: Sometimes just a few changes, updates, finished square footage, minor remodeling, etc., can make all the difference between selling your home at a “discount” price and selling for “top dollar.” For example, each square foot of unfinished basement that you have professionally finished (approximately $18 to $24 per square foot) could probably sell for around $22 to 28 per square foot. Our services include providing you with a review of your home’s potential for return on your selling investments.

Tough MarketSales Decline in July
The number of single family homes sold in the Colorado Springs’ area totaled 713 in July, dropping 24.6% from the same month one year ago and marking the first year-over-year decline in home sales since May 2009. At the same time, the number of homes on the market rose 16% over the number from one year ago, to 5,955 properties—the highest total since September 2008. A bright spot: the median price of new and existing homes sold in July climbed 5.1% to $209,900 when compared with the same month last year, and year-over-year prices have risen for nine straight months.*

Single Family + Patio July’10 July’09 June’10
Median Sales Price $209,900 $199,675 $205,000
Total # Active 5,955 5,135 5,917
Total # Sales 713 946 913
Year to Date # Sold 5,079 4,840 4,361
Townhomes + Condos July’10 July’09 June’10
Median Sales Price $137,500 $134,600 $142,000
Total # Sales 136 123 135

The supply of homes on the market is further expected to increase as banks add to the inventory with homes they’ve repossessed. One of the biggest obstacles facing home sales now seems to be uncertainty in the job market, which has had the biggest effect on higher-priced homes, estimated currently a 1˝ year supply of homes on market from $500,000 to $749,999. gazette.com

*Based on information from the Pikes Peak REALTOR Services Corp. (“RSC”). 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. © Realtor Services Corp.