COS Town Tidings #24-167

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 Colorado Springs Market

📊 2024 Mortgage Rates: Little Relief Soon

📆 Local Events

📢 ATTENTION REATORS! 🏠

🌤 COS Weather - Hot with possible isolated showers

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

Why did the cell phone give his daughter a timeout?

👉 He didn’t like her tone 🤣

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

Black Forest

Black Forest housing market is somewhat competitive. Median prices: $980K (-7.5%). Average days to sell: 47 (~2% below list); hot properties: list price in 12 days. Mar-May '24: 49% searched to move out, top metros moving in: Denver, Los Angeles, Washington.

Properties recently sold ranging from $651K to $1.9M. Click to view Black Forest listings

Briargate

Briargate housing market is somewhat competitive. Median price: $525K (-2.3%). Average days to sell at list: 29; hot properties: +1% above list in 10 days.

Properties recently sold ranging from $395K to $615K. Click to view Briargate listings

Broadmoor

Broadmoor housing market is somewhat competitive. Median price: $853K (+20.1%). Average days to sell: 41 (~2% below list); hot properties: list price in 19 days.

Properties recently sold ranging from $632K to $840K. Click to view Broadmoor listings

Cimarron Hills

Cimarron Hills housing market is somewhat competitive. Median price: $442K (+1%). Average days to sell: 39; hot properties: +2% list price in 7 days.

Properties recently sold ranging from $250K to $657K. Click to view Cimarron Hills listings

Banning Lewis Ranch

Banning Lewis Ranch housing market is somewhat competitive. Median price: $572K (+.4%). Average days to sell: around list: 28; hot properties: +1% list price in 10 days.

Properties recently sold ranging from $474K to $675K. Click to view Banning Lewis Ranch listings

Mountain Shadows

Mountain Shadows housing market is somewhat competitive. Median price: $625K (+10.1%). Average days to sell: 37 (~1% below list); hot properties: list price in 17 days.

Properties recently sold ranging from $746K to $990K. Click to view Mountain Shadow listings

Old Colorado City

Old Colorado City housing market is somewhat competitive. Median price: $478K (-.5%). Average days to sell: 34 (~1% below list); hot properties: list price in 15 days.

Properties recently sold ranging from $239K to $870K. Click to view Old Colorado City listings

Downtown Colorado Springs

Downtown Colorado Springs housing market is not very competitive. Median price: $450K (-8.2%). Average days to sell: 55 (~4% below list); hot properties: list price in 22 days.

Properties recently sold for $705K. Click to view Downtown Colorado Springs listings

🏡 Mixed Signals in Colorado Springs Market

In Colorado Springs, the housing market is experiencing rising home values due to high-end sales, while the number of units sold has decreased by 6.6%, and active listings have risen by 23.5%. This suggests a market shift, with properties not selling and buyer demand low, echoing trends from 2012 and 2013. Homes bought in 2022 before rate hikes are losing value, with many selling for less now. Rental prices are also softening.

The national economy appears less robust than reported, with rising living costs and increasing loan delinquencies. Until consumer confidence and affordability improve, sales may continue to drop, and housing inventory will rise. *Source

📊 2024 Mortgage Rates: Little Relief Soon

Mortgage rates in 2024 have fluctuated, peaking at 7.22% in early May and settling at 6.95% by mid-June. Significant declines are unlikely without Federal Reserve rate cuts. The Fed kept the benchmark rate steady in June, focusing on controlling inflation. Experts predict potential adjustments in late summer or early fall, though some foresee changes only by 2025.

Buyers might consider entering the market now, as home prices may rise when rates eventually fall. Strategies include comparing lenders or finding homes with assumable mortgages. The next FOMC meeting on July 30 and 31 is expected to maintain the current rate. *Read Source 

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

📆 Local Events

• Jun 15-16, 1-4 PM: 3-Hour Original Colorado Springs Food Tour @1 Tejon St $69-$87

• Jun 15 (9am-6pm): Good Vibes RV Show @UC Health Park, 4385 Tutt Blvd FREE to attend

• Jun 15 (8am-9pm), 16 (10am-8pm): Southern Colorado Juneteenth Festival @ America the Beautiful Park, 126 Cimino Dr FREE to attend

• Jun 15, 3:30 PM: 2.5-Hour Cocktails & Canapés Walking Tour @1 N Tejon $79 per person Must be 21+

• Jun 15, 8am-2pm: Westside Community Saleabration Block Party @ 1628 W Bijou St FREE

• Jun 15 (every Sat), 8am-2pm: Monument Farmers Market @ 55 Jefferson St, Monument 

• Jun 15 (every Sat through Oct), 8am-1pm: OCC Farmers Market @Bancroft Park, 2407 W Colorado Ave

• Jun 15, 9am-1pm: Black Forest Farmers Market @ 6845 Shoup Rd

• Jun 15: American Flag Swap at multiple locations

• Jun 15, 10am-2pm: El Paso County Kite Festival @Falcom Regional Park FREE

• Jun 15 (every Sat), 10am-2pm: Colorado Farm and Art Market @Margarita at Pine Creek, 7350 Pine Creek Rd

• Jun 15, 11am-3pm: Rocky Mountain Dinosaur Resource Center @Wild Birds Unlimited, 2450 Montebello Sq FREE

• Jun 15, 11am-2pm: Summertime Pups Adoption by El Paso County Canine Rescue @Petsmart, 2965 N New Center Pt

• Jun 15, Noon-5pm: Bristol's 30th Anniversary Party @Bristol Brewing Company, 1604 S Cascade Ave

• Jun 15, 5-8 PM: 🃏 Monthly Charity Cribbage Night @ Colonel Mustard's Sandwich Emporium, 1412 South 21st St $25 (10 Tickets left)

• Jun 16, 10 AM-2 PM (every Sun): Backyard Market at Park Union @108 W Cimarron St FREE

• Jun 16 (every Sun), 10am-2pm: Cordera Farmers Market @ 11894 Grandlawn Circle

• Jun 16, 11am-5pm: 2nd Annual Litha Festival @Bancroft Park in Old Colorado City FREE - family friendly

• Jun 16, 2-7pm: Manitou Springs Farmers Market @Soda Springs Park, 42 Park Ave, Manitou

• Jun 17, 11:30am-12:30pm (Every Mon): Beginning & Intermediate Yoga @Rockrimmon Library, 832 Village Center Dr FREE

• Jun 18: Date Night @Lebowski’s Taproom, 3240 Centennial Blvd $50/3 course dinner for 2

• Jun 18, 6:30-8:30pm: Twisted Tuesday $3 Drinks | Summer Walk @Painting With A Twist, Powers Blvd $35-$49

• Jun 20, 5:30-9am: COS Western Street Breakfast @Pikes Peak & Tejon $5

• Jun 22, 8-9am: Yoga on the Lawn @First & Main Town Center, 3305 Cinema Point FREE  (4 Spot Left) Registration Required

• Jun 22-23, 9am-3pm: Colorado Springs Garden Tour, Bonnyville and Patty Jewett Neighborhoods $25

• Jun 27, 6-10pm: Moonlight on the Mountain @Cheyenne Mountain Zoo $79.75

• Jul 6, 11:30-12:30pm: Summer Tea Luncheon @Rock Ledge Ranch, 3105 Gateway Rd $29 (Only few tables/seats left)

• July 9-13: Pikes Peak or Bust Rodeo @Norris Penrose Event Center $10-$55

• July 27, 3:45-9:45pm: Rocky Mountain Flower Fest @ Venetucci Farm, 5210 S. Hwy 85 $35-$55

📢 ATTENTION REALTORS! 🏠

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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}