COS Town Tidings #24-055

Real Estate Edition - bimonthly

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

• Black Forest

• Briargate

• Broadmoor

• Cimarron Hills

• Banning Lewis Ranch

• Mountain Shadows

🏠 What's Next for Mortgage Rates? Experts Weigh In 📉

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📆 Local Events & DEALS
🌞 COS Weather - Warming trend, get outside if possible

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

Black Forest

Black Forest housing market is somewhat competitive. Median prices: $740K (-28.1), $253/sqft (+5.4%). Average days to sell: 66 (~3% below list); hot properties: list price in 35 days. Nov '23 - Jan '24: 44% move out, top metros for moving in: Denver, Los Angeles, Dallas.

Properties recently sold:

1. Feb 22, 2024: 17750 Grama Ridge, COS 80908; Sold for $770,000 | 5 Beds | 3.5 Baths | 3,640 Sq Ft (Walden III - Single Family Residential)

2. Feb 12, 2024: 4341 Mountain Dance Dr, COS 80908; Sold for $1,825,000 | 6 Beds | 7 Baths | 6,296 Sq Ft (High Forest Ranch - Single Family Residential)

Briargate

Briargate housing market is somewhat competitive. Median price: $460K (-1.6%), $201/sqft (+1.3%). Average days to sell: 41 (~1% below list); hot properties: ~1% above list in 22 days.

Properties recently sold:

1. Feb 21, 2024: 2209 E Peacemaker Ter, COS 80920; Sold for $434,500 | 3 Beds | 2 Baths | 1,976 Sq Ft (Briargate-Single Family Residential)

2. Feb 20, 2024: 8575 Contrails Dr, COS 80920; Sold for $463,000 | 3 Beds | 2 Baths | 1,529 Sq Ft (Contrails-Single Family Residential)

3. Feb 16, 2024: 3448 Plantation Grv, COS 80920; Sold for $500,000 | 3 Beds | 2.5 Baths | 3,080 Sq Ft (Colorado Springs-Townhouse)

4. Feb 16, 2024: 8758 Alpine Valley Dr, COS 80920; Sold for $540,000 | 5 Beds | 3.5 Baths | 3,700 Sq Ft (Gatehouse Village At Briargate-Single Family Residential)

Broadmoor

Broadmoor housing market is not very competitive. Median price: $724K (-11.2%), $265/sqft (+48%). Average days to sell: 66 (~3% below list); hot properties: list price in 31 days.

Properties recently sold:

1. Feb 22, 2024: 10 Haney Rd, COS 80906; Sold for $849,000 | 4 Beds | 6 Baths | 4,044 Sq Ft (Piedmont-Single Family Residential)

2. Feb 16, 2024: 2740 Fox Grove Ct, COS 80906; Sold for $700,000 | 2 Beds | 3 Baths | 2,722 Sq Ft (Spring Grove-Single Family Residential)

Cimarron Hills

Cimarron Hills housing market is somewhat competitive. Median price: $375K (-7.5%), $198/sqft (-14.7%). Average days to sell: 45; hot properties: list price in 19 days.

Properties recently sold:

1. Feb 22, 2024: 4719 Pine Marten Pt, COS 80922; Sold for $205,000 | 3 Beds | 2 Baths | 1,198 Sq Ft (Chateau At Antelope Ridge-Single Family Residential)

2. Feb 20, 2024: 7115 White Mountain Dr, COS 80915; Sold for $365,000 | 3 Beds | 1.5 Baths | 1,250 Sq Ft (Cimarron Hills-Single Family Residential)

3. Feb 16, 2024: 2571 Hannah Ridge Dr, COS 80922; Sold for $575,000 | 4 Beds | 3 Baths | 2,980 Sq Ft (Hannah Ridge at Feathergrass-Single Family Residential)

4. Feb 16, 2024: 4064 Ryedale Way, COS 80922; Sold for $585,388 | 5 Beds | 4.5 Baths | 3,489 Sq Ft (Colorado Springs-Single Family Residential)

Banning Lewis Ranch

Banning Lewis Ranch housing market is somewhat competitive. Median price: $493K (-2.0%), $181/sqft (+0%). Average days to sell: 54 (~1% below list); hot properties: 1% above list price in 21 days.

Properties recently sold:

1. Feb 22, 2024: 6522 Thicket Pass Ln, COS 80927; Sold for $450,000 | 3 Beds | 2.5 Baths | 2,008 Sq Ft (Banning Lewis Ranch-Single Family Residential)

2. Feb 20, 2024: 9444 Timberlake Loop, COS 80927; Sold for $440,000 | 3 Beds | 2.5 Baths | 1,932 Sq Ft (Banning Lewis Ranch-Single Family Residential)

3. Feb 20, 2024: 8083 Cinnamon Ct, COS 80927; Sold for $588,500 | 5 Beds | 4 Baths | 3,125 Sq Ft (Banning Lewis Ranch-Single Family Residential)

Mountain Shadows

Mountain Shadows housing market is somewhat competitive. Median price: $610K (-9%), $171/sqft (-15.8%). Average days to sell: 43 (~1% below list); hot properties: list price in 32 days.

Properties recently sold

1. Feb 16, 2024: 2185 Alicia Pt #201, COS 80919; Sold for $339,900 | 2 Beds | 2 Baths | 1,254 Sq Ft (Arbors Mountain Shadows-Condo/Co-op)

2. Feb 14, 2024: 2187 Denton Grv #201, COS 80919; Sold for $315,000 | 2 Beds | 2 Baths | 1,254 Sq Ft (Arbors Mountain Shadows-Condo/Co-op)

🏠 What's Next for Mortgage Rates? Experts Weigh In 📉

Mortgage rates, hovering below 7% in 2024, are expected to decline, but not significantly, as the Federal Reserve may cut the federal funds rate. Experts predict rates ranging from 6% to 7% for most of the year, with gradual reductions anticipated.

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📅 Local Events

• Feb 24th-25th, 2:30 PM: She Loves Me, by First Company Theatre @First United Methodist Church - 420 North Nevada $15-$18

• Feb 24th, 8:30 AM - 12:30 PM: Senior Resource Fair and live music @Goodwill Possibilities 1460 Garden of the Gods Rd FREE

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• Feb 25th, 28th-Mar 2nd: Ice Castle @Cripple Creek $21-$27

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• Feb 25th, 2-5 PM: 3-Hour Original Colorado Springs Food Tour @1 Tejon St $69-$87

• Feb 26th, 3:30-4:30 PM: Beginning & Intermediate Yoga @Rockrimmon Library, 832 Village Center Dr FREE

• Feb 26th, 6-8 PM (Every Mon): Big Lebowski Themed Trivia Night @Lebowski’s Taproom, 3240 Centennial Blvd FREE

• Feb 27th, 3-4:30 PM: Southeast Community Outreach @ Sand Creek Library 1821 S Academy Blvd FREE

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The 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}