COS Town Tidings #24-139

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

• Old Colorado City

• Downtown Colorado Springs

😕 Mixed Signals in Springs Housing Market

📊 Fed's Decisions to Impact Mortgage Rates

📆 Local Events | 📅 DEALS

📢 ATTENTION REATORS! 🏠

⛈ COS Weather - PM Showers/T-Storms and warm temps

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

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🏡 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 not very competitive. Median prices: $950K (+5.2%), $250/sqft (+7.8%). Average days to sell: 115 (~2% below list); hot properties: list price in 15 days. Feb '24-Apr '24: 47% searched to move out, top metros for moving in: Denver, Los Angeles, Dallas.

Properties recently sold ranging from $832K to $950K. Click to view Black Forest listings

Briargate

Briargate housing market is somewhat competitive. Median price: $558K (+7.8%), $202/sqft (-1.5%). Average days to sell at list: 33; hot properties: +1% above list in 9 days.

Properties recently sold ranging from $328K to $750K. Click to view Briargate listings

Broadmoor

Broadmoor housing market is somewhat competitive. Median price: $715K (+3.7%), $248/sqft (-2.6%). Average days to sell: 46 (~3% below list); hot properties: list price in 20 days.

Properties recently sold ranging from $250K to $970K. Click to view Broadmoor listings

Cimarron Hills

Cimarron Hills housing market is somewhat competitive. Median price: $405K (+1.3%), $218/sqft (+16.6%). Average days to sell: 39; hot properties: +1% list price in 7 days.

Properties recently sold ranging from $249K to $750K. Click to view Cimarron Hills listings

Banning Lewis Ranch

Banning Lewis Ranch housing market is somewhat competitive. Median price: $575K (+8.5%), $186/sqft (-1.1%). Average days to sell: ~1% below list: 36; hot properties: list price in 12 days.

Properties recently sold ranging from $450K to $755K. Click to view Banning Lewis Ranch listings

Mountain Shadows

Mountain Shadows housing market is somewhat competitive. Median price: $595K (+4.6%), $225/sqft (+10.3%). Average days to sell: 42 (~1% below list); hot properties: list price in 19 days.

Properties recently sold ranging from $672K to $1.1M. Click to view Mountain Shadow listings

Old Colorado City

Old Colorado City housing market is somewhat competitive. Median price: $420K (-1.2%), $303/sqft (+19.1%). Average days to sell: 35 (~1% below list); hot properties: list price in 15 days.

Properties recently sold ranging from $193K to $981K. Click to view Old Colorado City listings

Downtown Colorado Springs

Downtown Colorado Springs housing market is not very competitive. Median price: $375K (-51.4%), $311/sqft (+25.4%). Average days to sell: 65 (~3% below list); hot properties: list price in 17 days.

Properties recently sold ranging from $450K. Click to view Downtown Colorado Springs listings

😕 Mixed Signals in Springs Housing Market

The Colorado Springs housing market presents a complex picture with rising home values driven by high-end sales, masking a decline in overall units sold and increasing inventory. Affordability issues persist due to high interest rates and inflation. The economic outlook remains uncertain, with experts predicting possible rate reductions later in 2024. Meanwhile, home prices reach record highs in April, despite significant declines in the sales of lower-priced homes. *Source

📊 Fed's Decisions to Impact Mortgage Rates

Mortgage rates, currently averaging 7.02%, are possibly expected to decline in 2024, depending on Federal Reserve rate cuts. The Fed has maintained the federal funds rate at 5.25% to 5.5% to combat inflation. Significant rate drops will require clearer signs of slowing inflation, possibly leading to adjustments by late summer or early fall.

Homebuyers are advised to consider entering the market now, with options like comparing lenders and assumable mortgages providing potential savings. The next FOMC meeting on June 11-12 will offer further insights. *Read Source 

• 🌟 Local Spotlight: Fidelity Mortgage Solutions 🏡 From Pre-Med to Mortgage Master

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📆 Local Events

• May 18-19, 1-4 PM: 3-Hour Original Colorado Springs Food Tour @1 Tejon St $69-$87

• May 18-June 2: RENT, the musical @Fine Arts Center, 30 W. Dale St. $26-$60

• May 18 (9 AM-4 PM): 2024 Gigantic Spring Plant Sales @Horticultural Art Society Cottage Backyard, 222 Mesa Rd

• May 18, 9am-3pm: Colorado Springs Record Show @Antlers Hotel, 4 S. Cascade $3-$10

• May 18-19, 10 AM-5 PM: Garden of the Gods Art Festival @Rock Ledge Ranch, 3105 Gateway Rd $10

• May 18, 10:30am-2:30pm: Co Spring 2024 Benefit Car Show @Mash Mechanix Brewing Co, 429 E. Pikes Peak Ave FREE to Attend

• May 18, 1-7 PM: AANHPI Celebration Festival @Golden Lotus Foundation Asian Heritage Center, 1819 West Cheyenne Rd $12-$150 (VIP) Tickets Available At The Door Only

• May 18, 5-10 PM: 2nd Annual Raise the Woof Shindig-Fundraising Event @Under The Sun Dog Training and Daycare, 6540 Vincent Dr $50

• May 18, 7:30pm & 19, 2:30pm: New World Symphony @Pikes Peak Center for the Performing Arts, 190 S. Cascade Ave $31-$91 (Sat), $25 (Sun)

• May 19, 10 AM-2 PM (every Sun): Backyard Market at Park Union @108 W Cimarron St FREE

• May 19, 3 PM: Pikes Peak Philharmonic @ENT Center for the Arts at UCCS $20

• May 20, 3:30-4:30 PM (Every Mon): Beginning & Intermediate Yoga @Rockrimmon Library, 832 Village Center Dr FREE

• May 22, 5-8:30pm: Hillside Gardens Summer Concert Series @Hillside Gardens, 1006 S Institute St $15

• May 23, 4-5pm: Mental Health Awareness Presentation @PPLD-Sand Creek Library, 1821 S Academy Blvd FREE

• May 24, 6:30-8:30 PM: Forest Night Skies | Upgrade with Glitter @Painting With A Twist, Powers Blvd $39-$55

• May 25-26 (10am-7pm), 27 (10am-6pm): Territory Days @Old Colorado City, 3008 W Colorado Ave FREE ($25 for VIP Parking Pass)

• May 28, 5:30-8pm: Sourdough Baking Workshop with Nature's Start Bread Company @Five Star Food Stop, 4621 Austin Bluffs $65

  • ✨ Local Spotlight: 🍞 A Slice of Home: Nature's Start Bread Company Rises in Colorado Springs

• May 31-Jun 2, Vintage Market Days @Norris Penrose Event Center, 1045 Lower Gold Camp Rd $10-$15

• Jun 8, 13-15, 20-22: Four Old Broads @Westside Community Center, 1628 W Bijou $24

• Jun 8, Noon-4pm: Feast of Saint Arnold - Family Friendly Beer Festival @Chapel of our Saviour Episcopal Church, 8 Fourth St $50

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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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