COS Town Tidings #24-195

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

💸 Affordability Issues Hit Colorado Springs Housing Market

🎢 Mortgage Rate Roller Coaster Continues

🏡 Homes For Sale 📢 ATTENTION REATORS! 🏠

📆 Local Events

🌤 COS Weather - Mostly sunny with heat advisory through Sunday

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

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👉“Who turned the thermostat to hell!”🤣

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

Black Forest

Black Forest housing market is somewhat competitive. Median prices: $900K (-13.9%). Average days to sell: 31 (~2% below list); hot properties: list price in 8 days. Apr-Jun '24: 50% searched to move out, top metros moving in: Denver, Los Angeles, Houston.

Properties recently sold ranging from $8100K to $1.7M. Click to view Black Forest listings

Briargate

Briargate housing market is somewhat competitive. Median price: $550K (+9.1%). Average days to sell at list: 26; hot properties: +1% above list in 9 days.

Properties recently sold ranging from $269K to $844K. Click to view Briargate listings

Broadmoor

Broadmoor housing market is somewhat competitive. Median price: $680K (-7.4%). Average days to sell: 33 (~4% below list); hot properties: list price in 14 days.

Properties recently sold ranging from $700K to $1.6M. Click to view Broadmoor listings

Cimarron Hills

Cimarron Hills housing market is somewhat competitive. Median price: $450K (+12.5%). Average days to sell: 40; hot properties: +1% list price in 7 days.

Properties recently sold ranging from $205K to $580K. Click to view Cimarron Hills listings

Banning Lewis Ranch

Banning Lewis Ranch housing market is very competitive. Median price: $539K (-6.3%). Average days to sell: around list: 28; hot properties: +1% list price in 7 days.

Properties recently sold ranging from $450K to $675K. Click to view Banning Lewis Ranch listings

Mountain Shadows

Mountain Shadows housing market is somewhat competitive. Median price: $746K (+29.7%). Average days to sell: 35 (~1% below list); hot properties: list price in 12 days.

Properties recently sold ranging from $500K to $1.2M. Click to view Mountain Shadow listings

Old Colorado City

Old Colorado City housing market is somewhat competitive. Median price: $440K (+3.5%). Average days to sell: 38 (~1% below list); hot properties: +1% above list price in 18 days.

Properties recently sold ranging from $325K to $1.8M. Click to view Old Colorado City listings

Downtown Colorado Springs

Downtown Colorado Springs housing market is not very competitive. Median price: $683K (+68.5%). Average days to sell: 63 (~3% below list); hot properties: list price in 27 days.

Properties recently sold for $990K. Click to view Downtown Colorado Springs listings

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💸 Affordability Issues Hit Colorado Springs Housing Market

Colorado Springs is witnessing a notable increase in housing inventory, with new listings outpacing sales. While active listings surged by 51.1% year-over-year in May 2024, sales fell by 7.6%, reflecting affordability challenges. Prices remain high, particularly in the upper market segments, as entry-level buyers face significant hurdles. The rental market is softening as more unsold homes convert to rentals. *Source

📢 ATTENTION MORTGAGE BROKERS!

Are you a mortgage broker and want to become one of our experts? Inquire for details at [email protected]

🎢 Mortgage Rate Roller Coaster Continues

The mortgage market continues to experience fluctuations, with rates peaking at 7.22% in May before settling at 6.89% in July. Experts predict a potential decline in rates if the Federal Reserve cuts its benchmark rate, though persistent inflation and a strong labor market have led to a cautious approach. Homebuyers may need to wait for more favorable conditions or explore alternative options like assumable mortgages. The upcoming FOMC meeting on July 30-31 is expected to maintain the current rate. *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 wanting to become one of our experts? Or are you 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 WEEKENDS EVENTS 👈

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

• July 13, 8am-noon: D11 Recruitment Fair @Galileo Middle School, 1600 North Union

• July 13-14, 10am-8pm: Crystal Festival-Rocks, Minerals, Gems, & Crystals @Colorado Springs Event Center, 3960 Palmer Park Blvd FREE Admission-Family-Friendly

• July 14, 2-4:30pm: Serving Tray & Candle Making Workshop @Painting With A Twist, Powers Blvd $59

• July 15, 11:30am-12:30pm (Every Mon): Beginning & Intermediate Yoga @Rockrimmon Library, 832 Village Center Dr FREE

• July 15, 5-8 PM: 🃏 Monthly Charity (Project Angel Heart) Cribbage Night @ Colonel Mustard's Sandwich Emporium, 1412 South 21st St $25

• July 17, 6:30-8:30pm: Mountain Flowers | Wine Slush & Sweets Incl! @Painting With a Twist, Downtown $39

• 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

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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}