🏡 Latest Home Sales and Market Insights in Colorado Springs

COS Local News & Events | Issue #24-013 1/13/24 - Real Estate Edition

13 Jan • Estimated Reading Time: 12 minutes

Inside COS Town Tidings Issue #24-013

Real Estate Edition - bimonthly

🤣 Today’s Chuckle
🥶 COS Weather - Dangerously cold wind chills expected

🏡 Unlock the Colorado Springs Housing Market: Latest Home Sales and Market Insights

  • Black Forest

  • Briargate

  • Broadmoor

  • Cimarron Hills

  • Banning Lewis Ranch

🏠 Market Whispers: Will 2024 Bring Mortgage Relief? 📉

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📆 Upcoming Local Events - updated daily

We are excited to present our latest Real Estate Roundup issue, focusing on the dynamic and ever-evolving Colorado Springs housing market. Our team has compiled* essential market insights to help you stay ahead in your real estate endeavors. *Data source: Redfin

When it comes to board games about buying real estate…
👉 Hasbro really has the Monopoly 🤣

Cute Gif Reaction GIF

 

🥶 Dangerously cold wind chills expected. Wind chills will range from 20 below zero to 30 below zero.

 

 

🏡 Unlock the Colorado Springs Housing Market: Latest Home Sales and Market Insights

Black Forest

Black Forest housing market is somewhat competitive. Median prices: $855K (+6.2%), $262/sqft (+5.4%). Average days to sell: 56; hot properties: list price in 34 days. Oct '23 - Dec '23: 43% move out, top metros for moving in: Denver, Los Angeles, Dallas.

Properties recently sold:

  1. Jan 4, 2024: 9626 Jack Helm Dr, COS 80908; Sold for $600,000 | 4 Beds | 3 Baths | 3,188 Sq Ft (Homestead at Sterling Ranch - Single Family Residential)

  2. Jan 5, 2024: 14940 Quail Run Rd, COS 80908; Sold for $740,000 | 3 Beds | 2 Baths | 4,235 Sq Ft (Terra Ridge - Single Family Residential)

  3. Jan 5, 2024: 11240 Fawn Ln, COS 80908; Sold for $737,000 | 5 Beds | 3 Baths | 2,834 Sq Ft (Pine Meadows - Single Family Residential)

  4. Jan 12, 2024: 7750 Wilderness Dr, COS 80908; Sold for $815,000 | 4 Beds | 3 Baths | 3,214 Sq Ft (Wildwood Village - Single Family Residential)

Briargate

Briargate housing market is somewhat competitive. Median price: $499K (-4%), $183/sqft (-5.2%). Average days to sell: 39; hot properties: ~1% above list in 20 days.

Properties recently sold:

  1. Jan 3, 2024: 2528 Elite Ter, COS 80920; Sold for $390,000 | 3 Beds | 3.5 Baths | 1,983 Sq Ft (Courtside - Townhouse)

  2. Jan 5, 2024: 3370 Harbor Island Dr, COS 80920; Sold for $555,000 | 5 Beds | 3 Baths | 2,558 Sq Ft (Charleston Place - Single Family Residential)

  3. Jan 8, 2024: 6925 Heatherwood Cir, COS 80918; Sold for $467,000 | 5 Beds | 3.5 Baths | 2,813 Sq Ft (Brookwood - Single Family Residential)

  4. Jan 10, 2024: 9667 Snowberry Cir, COS 80920; Sold for $450,000 | 4 Beds | 2 Baths | 3,171 Sq Ft (Pine Creek - Single Family Residential)

Broadmoor

Broadmoor housing market is somewhat competitive. Median price: $445K (-22.3%), $252/sqft (+18%). Average days to sell: 40; hot properties: list price in 17 days.

Properties recently sold:

  1. Jan 8, 2024: 60 Ravenglass Way, COS 80906; Sold for $815,000 | 6 Beds | 3.5 Baths | 4,476 Sq Ft (Country Walk - Single Family Residential)

  2. Jan 9, 2024: 2010 Parkview Blvd, COS 80905; Sold for $530,000 | 3 Beds | 3 Baths | 2,489 Sq Ft (Skyway Park Estates - Single Family Residential)

  3. Jan 10, 2024: 1828 Fenmoor Pl, COS 80905; Sold for $625,000 | 4 Beds | 2 Baths | 1,708 Sq Ft (Fenmoor - Multi-Family (2-4 Unit))

  4. Jan 10, 2024: 1510 Laird Cir, COS 80906; Sold for $1,065,000 | 3 Beds | 3.5 Baths | 4,399 Sq Ft (Pine Terrace - Townhouse)

Cimarron Hills

Cimarron Hills housing market is somewhat competitive. Median price: $398K (+0.1%), $222/sqft (+3%). Average days to sell: 44; hot properties: list price in 18 days.

  1. Jan 8, 2024: 6850 Galley Rd, COS 80915; Sold for $364,000 | 4 Beds | 2 Baths | 1,886 Sq Ft (Cimarron Hills - Single Family Residential)

  2. Jan 8, 2024: 6750 Galley Rd, COS 80915; Sold for $345,000 | 3 Beds | 2 Baths | 1,717 Sq Ft (Cimarron Hills - Single Family Residential)

  3. Jan 8, 2024: 1760 Leoti Dr, COS 80915; Sold for $433,000 | 5 Beds | 3 Baths | 2,308 Sq Ft (Constitution Hills - Single Family Residential)

  4. Jan 10, 2024: 1308 Soaring Eagle Dr, COS 80915; Sold for $233,000 | 2 Beds | 1.5 Baths | 960 Sq Ft (Eaglecrest Townhomes)

  5. Jan 12, 2024: 7050 Crazy Horse Cir, COS 80915; Sold for $386,000 | 3 Beds | 1.5 Baths | 1,680 Sq Ft (Northcrest - Single Family Residential)

Banning Lewis Ranch

Banning Lewis Ranch housing market is somewhat competitive. Median price: $504K (+10.2%), $161/sqft (-16.4%). Average days to sell: 40; hot properties: list price in 16 days.

  1. Dec 29, 2023: 8273 Longleaf Ln, COS 80927; Sold for $470,000 | 3 Beds | 2.5 Baths | 3,003 Sq Ft (Banning Lewis Ranch - Single Family Residential)

  2. Dec 29, 2023: 9062 Pacific Crest Dr, COS 80927; Sold for $498,000 | 4 Beds | 3.5 Baths | 2,856 Sq Ft (Banning Lewis Ranch - Single Family Residential)

  3. Jan 8, 2024: 8572 Briar Brush Ln, COS 80927; Sold for $520,000 | 3 Beds | 3 Baths | 3,407 Sq Ft (Banning Lewis Ranch - Single Family Residential)

🏠 Market Whispers: Will 2024 Bring Mortgage Relief? 📉

Mortgage rates, after hitting a 2023 high of 7.79% in October, are showing signs of decline, reaching 6.66% as of January 11. The Federal Reserve's decision to maintain rates provides hope for a continued easing trend in 2024. While experts predict a potential drop to 6.5% by year-end, the persisting high rates pose challenges for homebuyers and sellers. Various forecasts suggest a range of outcomes for 2024 mortgage rates, with a potential for increased refinance activity.

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