COS Town Tidings #24-069

Real Estate Edition

🏡 Unlock the Colorado Springs Housing Market: Latest Home Sales and Market Insights - (Gmail will truncate, click to READ ONLINE)

• Black Forest

• Briargate

• Broadmoor

• Cimarron Hills

• Banning Lewis Ranch

• Mountain Shadows

📈 Colorado Springs Homes Sales Rebound

💰 Expert Predictions: 2024 Mortgage Rates

📆 Local Events & 🛍 DEALS
🌤 COS Weather - Partly cloudy & mild
🤝 Affordable Advertising

Today’s Real Estate Roundup is Sponsored by Your Neighborhood Realty!

My alarm clock said, “Spring forward!”

👉 I replied, “Fall back asleep!” 🤣

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

*All listings are Single Family Residential unless noted otherwise.

Black Forest

Black Forest housing market is somewhat competitive. Median prices: $766K (-27.1), $237/sqft (-11.2%). Average days to sell: 70 (~3% below list); hot properties: list price in 39 days. Dec '23-Feb '24: 45% searched to move out, top metros for moving in: Denver, Los Angeles, San Francisco.

Properties recently sold:

1. Mar 5, 2024: 7030 Baker Rd, COS 80908; Sold $513,000 | 3 Beds | 2 Baths | 1,590 Sq Ft (Park Forest Estates)

2. Mar 4, 2024: 17795 Grama Ridge, COS 80908; Sold $720,000 | 3 Beds | 3.5 Baths | 3,268 Sq Ft (Walden III)

3. Mar 4, 2024: 15054 Snowy Pine Pt, COS 80908; Sold $1,425,000 | 4 Beds | 4 Baths | 5,030 Sq Ft (Black Forest Reserve)

Briargate

Briargate housing market is somewhat competitive. Median price: $501K (+4.3%), $180/sqft (-6.5%). Average days to sell: 47 (~1% below list); hot properties: ~1% above list in 23 days.

Properties recently sold:

1. Mar 8, 2024: 10170 Clear Creek Rd, COS 80920; Sold $600,000 | 3 Beds | 2 Baths | 3,856 Sq Ft (Creekside Estates)

2. Mar 8, 2024: 7858 Antigua Pt, COS 80920; Sold $522,000 | 2 Beds | 2 Baths | 1,860 Sq Ft (Mission Cove-Townhouse)

3. Mar 7, 2024: 2610 Lear Dr, COS 80920; Sold $495,000 | 3 Beds | 3 Baths | 1,970 Sq Ft (Montclair)

4. Mar 6, 2024: 3865 Cherry Plum Dr, COS 80920; Sold $614,200 | 4 Beds | 3 Baths | 3,162 Sq Ft (Pine Creek)

5. Mar 5, 2024: 1836 Chapel Hills Dr, COS 80920; Sold $503,500 | 4 Beds | 2 Baths | 2,142 Sq Ft

6. Mar 5, 2024: 8945 Aragon Dr, COS 80920; Sold $545,000 | 4 Beds | 3.5 Baths | 2,568 Sq Ft (Gatehouse Village At Briargate)

7. Mar 5, 2024: 4192 Morning Glory Rd, COS 80920; Sold $460,000 | 4 Beds | 2.5 Baths | 1,756 Sq Ft (Sagewood)

Broadmoor

Broadmoor housing market is not very competitive. Median price: $849K (+30.6%), $257/sqft (-5.9%). Average days to sell: 67 (~4% below list); hot properties: list price in 31 days.

Properties recently rented:

1. Mar 8, 2024: 109 Cheyenne Blvd, COS 80905; Rented $1,900/mth | 3 Beds | 1 Bath (Canyon-Multi-Family Rental)

Cimarron Hills

Cimarron Hills housing market is somewhat competitive. Median price: $365K (-15.5%), $209/sqft (+9.4%). Average days to sell: 51; hot properties: +1% list price in 23 days.

Properties recently sold:

1. Mar 7, 2024: 6339 Montero Cir, COS 80915; Sold $452,000 | 3 Beds | 3 Baths | 2,324 Sq Ft (Peakview)

2. Mar 6, 2024: 6781 Mission Rd, COS 80915; Sold $360,000 | 4 Beds | 2 Baths | 1,946 Sq Ft (Cimarron)

3. Mar 5, 2024: 1645 Tahlequah Dr, COS 80915; Sold $395,000 | 3 Beds | 2 Baths | 1,928 Sq Ft (Cimarron Westridge)

4. Mar 4, 2024: 4711 Falcons Hood Pt, COS 80922; Sold $397,000 | 3 Beds | 3 Baths | 1,475 Sq Ft (Falcon Heights)

5. Mar 4, 2024: 2422 Pony Club Ln, COS 80922; Sold $478,700 | 3 Beds | 3.5 Baths | 2,130 Sq Ft (Midtown Collection at Hannah Ridge)

Banning Lewis Ranch

Banning Lewis Ranch housing market is somewhat competitive. Median price: $540K (+16.5%), $184/sqft (-4.7%). Average days to sell: 59 (~1% below list); hot properties: list price in 16 days.

Properties recently sold:

1. Mar 8, 2024: 8555 Briar Brush Ln, COS 80927; Sold $495,000 | 4 Beds | 3.5 Baths | 2,665 Sq Ft (Banning Lewis Ranch)

2. Mar 4, 2024: 7938 Silver Birch Dr, COS 80927; Sold $520,000 | 4 Beds | 3 Baths | 2,794 Sq Ft (Banning Lewis Ranch)

3. Feb 29, 2024: 8275 Silver Birch Dr, COS 80927; Sold $499,000 | 3 Beds | 2 Baths | 3,818 Sq Ft (Banning Lewis Ranch)

4. Feb 26, 2024: 7854 Silver Birch Dr, COS 80927; Sold $540,000 | 5 Beds | 3.5 Baths | 3,412 Sq Ft (Banning Lewis Ranch)

5. Feb 26, 2024: 8237 Longleaf Ln, COS 80927; Sold $435,000 | 3 Beds | 2.5 Baths | 1,877 Sq Ft (Banning Lewis Ranch)

6. Feb 26, 2024: 9029 Pacific Crest Dr, COS 80927; Sold $595,000 | 4 Beds | 3 Baths | 3,436 Sq Ft (Banning Lewis Ranch)

7. Feb 26, 2024: 9378 Timberlake Loop, COS 80927; Sold $410,000 | 3 Beds | 2.5 Baths | 1,932 Sq Ft (Banning Lewis Ranch)

8. Feb 23, 2024: 6439 Forest Thorn Ct, COS 80927; Sold $555,000 | 3 Beds | 3 Baths | 3,003 Sq Ft (Banning Lewis Ranch)

Mountain Shadows

Mountain Shadows housing market is somewhat competitive. Median price: $437K (-31.8%), $260/sqft (+26.5%). Average days to sell: 46 (~1% below list); hot properties: list price in 32 days.

Properties recently sold

1. Mar 1, 2024: 2510 Mirror Lake Ct, COS 80919; Sold $675,000 | 4 Beds | 4 Baths | 3,060 Sq Ft (Mountain Shadows)

2. Feb 29, 2024: 5848 Via Verona Vw, COS 80919; Sold $595,000 | 3 Beds | 3 Baths | 3,212 Sq Ft (Tuscany Villas-Townhouse)

3. Feb 29, 2024: 5858 Villa Lorenzo Dr, COS 80919; Sold $534,100 | 3 Beds | 2.5 Baths | 1,773 Sq Ft (Tuscan Foothills Village-Townhouse)

4. Feb 23, 2024: 5870 Wilson Rd, COS 80919; Sold $725,000 | 3 Beds | 3 Baths | 3,633 Sq Ft (Mountain Shadows)

📈 Colorado Springs Homes Sales Rebound

Colorado Springs home sales and new construction rebounded in February after nearly two years of decline due to higher mortgage rates. The median home price rose to $455,950, with an increase in inventory and a surge in single-family home permits reflecting renewed buyer interest. Experts attribute the rebound to a slight drop in mortgage rates, prompting both sellers and buyers to enter the market.

💰 Expert Predictions: 2024 Mortgage Rates

Mortgage rates linger at 6.88% as of March 7. While slightly increased from last year, experts foresee a potential decline ahead, especially with expected Fed rate cuts. Forecasts vary: Freddie Mac sees rates above 6.5% near-term, while Fannie Mae predicts 5.9% by year-end. The Mortgage Bankers Association forecasts 6.1% for 2024, with further dips in 2025. Yet, the timing and impact of these changes hinge on economic factors and Fed decisions.

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📆 Local Events

• Mar 9th: Ice Castle @Cripple Creek $21-$27 (LAST DAY)

• Mar 9th, 14th-17th, 21st-24th, 7:30 PM: The Making of a Great Moment @Millibo Art Theater, 1626 S. Tejon St $28

• Mar 9th-10th, Noon - 5 PM: COLORADO SPRINGS REMODELING EXPO @Norris Penrose Center, 1045 Lower Gold Camp Rd

• Mar 9th-10th, (Sat 10 AM-4 PM, Sun 11 AM-3 PM): Friends of the Library Spring Book Sale @Pikes Peak Library District-East Library, 5550 N Union Blvd

• Mar 9th (every Fri & Sat), 3:30 PM: 2.5-Hour Cocktails & Canapés Walking Tour @1 N Tejon St. $79 per person Must be 21+ (ONLY 3 SPOTS LEFT)

• Mar 9th, 10 AM-3 PM: Backyard Market in Black Forest @Edith Wolford Elementary, 13710 Black Forest Rd FREE

• Mar 9th, 6-8 PM: Yoga w/Live Music and Sound Bath @Yoga Studio Satya 1581 York Rd $45-$55

• Mar 10th, 10 AM-2 PM (every Sun): Backyard Market at Park Union @108 W Cimarron St FREE

• Mar 10th, 2:30-6 PM: Women of the World: An International Fashion Show @Anthem Live Studios, 975 Garden of the Gods Road #h $45-$100

• Mar 11th, 1-2 PM: Mountain Harmony Music Senior Program @Southeast YMCA, 2190 Jet Wing Dr. FREE ages 50+ (Registration Required)

• Mar 11th, 3:30-4:30 PM (Every Mon): Beginning & Intermediate Yoga @Rockrimmon Library, 832 Village Center Dr FREE

• Mar 11th-12th, 7 PM: The Thorn @Pikes Peak Center, 190 S Cascade Ave $52-$84

• Mar 12th & 14th, 9 AM-5 PM: March Dog Days @Cheyenne Mountain Zoo

• Mar 12th, 6-8 PM: Renter Rights Workshops @Pikes Peak Library East - East Community Room, 5550 N. Union Blvd FREE (Registration Required)

• Mar 12th, 6:30-8:30 PM: Cotton Candy Moon | $3 Drinks | Blacklight Paints @Painting With A Twist, Powers Blvd $35-$55 (ONLY 9 SPOTS LEFT)

• Mar 13th, 4-7 PM: TASTE OF D49 FOOD SHOW @Vista Ridge High School, 6888 Black Forest Rd FREE

• Mar 14th, 6-8 PM: Fox Run Open House @Pikes Peak Brewing Co, 1756 Lake Woodmoor Dr, Monument FREE

• Mar 14th-16th: 12 Angry Men from Funky Little Theater Co @Westside Community Ctr, 1628 W Bijou St $24

• Mar 15th, 5-8 PM: Monthly Charity Cribbage Night @ Colonel Mustard's Sandwich Emporium, 1412 South 21st St $25

• Mar 16th, 10 AM-Noon: Painting in the Park: Pottery Edition @Fountain Creek Nature Center, Pepper Grass Lane, Fountain $25

• Mar 16th, 1-3:30 PM: Forest Bathing Walks @Bear Creek Nature Center, 245 Bear Creek Rd $30

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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}

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