COS Town Tidings #24-181

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

🏠 Colorado Springs Housing Market Sees Shift

📈 No Summer Relief for Mortgage Rates

🏡 Homes For Sale 📢 ATTENTION REATORS! 🏠

📆 Local Events

🌦 COS Weather - Cooler with PM T-Storms

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

Why did the real estate agent refuse to sell a haunted house?

👉Because she was afraid of ghost offers🤣

🏡 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: 32 (~1% below list); hot properties: list price in 8 days. Mar-May '24: 49% searched to move out, top metros moving in: Denver, Los Angeles, Washington.

Properties recently sold ranging from $600K to $1.3M. Click to view Black Forest listings

Briargate

Briargate housing market is somewhat competitive. Median price: $525K (-2.3%). Average days to sell at list: 26; hot properties: +1% above list in 8 days.

Properties recently sold ranging from $260K to $1.1M. Click to view Briargate listings

Broadmoor

Broadmoor housing market is somewhat competitive. Median price: $853K (+20.1%). Average days to sell: 41 (~4% below list); hot properties: list price in 16 days.

Properties recently sold ranging from $287K to $1.3M. Click to view Broadmoor listings

Cimarron Hills

Cimarron Hills housing market is somewhat competitive. Median price: $442K (+1%). Average days to sell: 41; hot properties: +2% list price in 7 days.

Properties recently sold ranging from $240K to $645K. Click to view Cimarron Hills listings

Banning Lewis Ranch

Banning Lewis Ranch housing market is very competitive. Median price: $572K (+.4%). Average days to sell: around list: 28; hot properties: +1% list price in 7 days.

Properties recently sold ranging from $460K to $811K. 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: 40 (~1% below list); hot properties: list price in 14 days.

Properties recently sold ranging from $500K to $1.02M. 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: 35 (~1% below list); hot properties: list price in 14 days.

Properties recently sold ranging from $269K to $886K. 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 25 days.

Properties recently sold for $660K. Click to view Downtown Colorado Springs listings

🏠 Colorado Springs Housing Market Sees Shift

The Colorado Springs housing market is experiencing a paradox of rising prices amid increasing inventory and declining sales. REALTOR® Patrick Muldoon points out that the Pikes Peak region saw a 7.6% year-over-year drop in sold properties and a nearly 40% increase in active listings in May. Yet, prices rose by 3.3%. The increase in withdrawn and canceled listings, especially in the $500,000 and under category, is a key factor.

Many lower-priced homes are now entering the rental market, contributing to a softening rental market. Nationally, more home sellers are cutting asking prices, and pending home sales are at their lowest since 2020. Broader economic indicators, including higher interest rates and consumer struggles, suggest challenging times ahead. *Source

📈 No Summer Relief for Mortgage Rates

Mortgage rates remain high in 2024, with little expectation for significant drops unless the Federal Reserve cuts its key interest rate. The Fed has maintained a cautious approach, holding rates steady amid persistent inflation and a strong labor market. Potential homebuyers may need to explore alternatives like assumable mortgages to find lower rates. The next FOMC meeting on July 30 and 31. *Read Source 

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

Belinda Briggs, Realtor, Berkshire Hathaway HomeServices Synergy Realty: (719) 459-9857 | [email protected]

1. Sought-after Broadmoor Park home in a serene natural setting. 2,632 sqft, 4 Bedrooms, 3 Baths, backing to open space. Call for details

2. Broadmoor Bluffs, bi-level home backs up to a hill with large backyard. 3,042 sqft, 5 Bedrooms, 3 Baths. Call for details

📢 ATTENTION REALTORS! 🏠

Are you a local realtor selling a home or property? We can also list open houses. Inquire for details at [email protected] 

🙋‍♀️ Do you have any burning Real Estate Questions?

Click here and let us know

📆 Local Events

👉 CLICK HERE FOR THE FULL LIST OF THIS WEEKEND AND JULY 4TH HOLIDAY EVENTS 👈

• July 3, 10am-1pm: First Wednesday Job Fair @PPWFC, 1675 Garden of the Gods Road

• July 3, 5:15-7pm: Tea Blending Workshop @The Queen's TEApothecary, 2504 W Colorado Ave $25

  • 🌟 Spotlight: 🍵 Where Locals Come to Find Their Bliss-The Queen's TEApothecary

• July 6, 10am: 81st Annual Pikes Peak or Bust Parade @Downtown COS FREE

• 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 18, 6-9pm: Taste of Pikes Peak @200 S Sierra Madre $60

• July 20: Cat Fest @ Norris Penrose Event Center $20

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

• Aug 17-18, 8:30am-5pm: Pikes Peak Regional Airshow featuring The Blue Angels @Pikes Peak Regional Airport, 7250 Getting Hts $42-$85

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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}