COS Town Tidings #24-209

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

📢 ATTENTION REATORS! 🏠

🚪 Doors Close for Entry Buyers

📢 ATTENTION MORTGAGE BROKERS!

🏡 Homebuyers Await Rate Relief

🏡 Homes For Sale

📆 Local Events

🌦 COS Weather - Hot with possible, isolated PM T-storms

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

I thought people would flock to my bank if I offered 0% mortgages

👉But there was literally no interest🤣

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

Black Forest

Black Forest housing market is somewhat competitive. Median prices: $900K (-13.4%). Average days to sell: 32 (~2% below list); hot properties: list price in 811 days. Apr-Jun '24: 50% searched to move out, top metros moving in: Denver, Los Angeles, Houston.

Properties recently sold ranging from $709K to $1.9M. Click to view Black Forest listings

Briargate

Briargate housing market is very competitive. Median price: $550K (+9.1%). Average days to sell at list: 27; hot properties: +1% above list in 10 days.

Properties recently sold ranging from $328K to $659K. Click to view Briargate listings

Broadmoor

Broadmoor housing market is somewhat competitive. Median price: $680K (-17%). Average days to sell: 38 (~4% below list); hot properties: list price in 13 days.

Properties recently sold ranging from $455K to $1.5M. Click to view Broadmoor listings

Cimarron Hills

Cimarron Hills housing market is somewhat competitive. Median price: $435K (+8.8%). Average days to sell: 39; hot properties: +1% list price in 5 days.

Properties recently sold ranging from $235K to $605K. Click to view Cimarron Hills listings

Banning Lewis Ranch

Banning Lewis Ranch housing market is somewhat competitive. Median price: $539K (-6.3%). Average days to sell: around list: 26; hot properties: +1% list price in 7 days.

Properties recently sold ranging from $440K to $640K. 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 20 days.

Properties recently sold ranging from $300K to $970K. Click to view Mountain Shadow listings

Old Colorado City

Old Colorado City housing market is somewhat competitive. Median price: $445K (+4.6%). Average days to sell: 37 (~1% below list); hot properties: +1% above list price in 17 days.

Properties recently sold ranging from $336K to $1.12M. 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

⬇⭐Support Our Local Businesses!⭐⬇

📢 ATTENTION REALTORS! 🏠

Are you a local realtor (or know one) 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] 

🚪 Doors Close for Entry Buyers

Colorado Springs' housing market is seeing a 40% rise in inventory, yet prices are still climbing, creating challenges for entry-level buyers. May's home sales were down 7.6% year-over-year, with a skew towards higher-end properties, as more affordable homes struggle to sell. Rental markets soften as unsold homes become rentals, while national trends show increased price reductions and declining pending sales. High-interest rates are straining the economy, and despite record-high May prices in the Springs, affordability remains a major issue for buyers. *Source

📢 ATTENTION MORTGAGE BROKERS!

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

🏡 Homebuyers Await Rate Relief

Mortgage rates in 2024 have been highly volatile, with the 30-year fixed mortgage rate fluctuating around 7%. Experts predict a slight decrease in rates if the Federal Reserve cuts its benchmark interest rate, though the Fed's current cautious approach to inflation has kept rates elevated. Despite this, strategies like comparing lenders and assumable mortgages can help buyers secure lower rates. The next Federal Open Market Committee meeting on July 30-31 is expected to maintain the current federal funds rate. *Read Source 

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

Julie Rush, SRES, GRI, CDPE, Re/Max Properties, Inc: 719-360-8455 cell | [email protected]

• 💸 Investment Potential at the Base of Pikes Peak for VRBO or AirBnB. Click for details

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

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

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

🙋‍♀️ Do you have any burning Real Estate Questions?

Click here and let us know

Click Image for the full list of this weekend’s events 👇

📆 Local Events

• July 31, 1:30-2pm: Candle Making Workshop @Painting With A Twist, N Powers Blvd $25 (Only 4 Seats Left)

• Aug 2 (7pm) 3 (2, 7pm) 4 (2pm): CURTAINS-The Musical Comedy Whodunit @Colorado College: Kathryn Mohrman Theatre at Armstrong Hall, 14 E Cache La Poudre St $22.50

• Aug 2 & 9 (7:30), 3-4 & 10-11 (2:30): The Play That Goes Wrong @ First United Methodist Church, 420 N Nevada $15-$18

• Aug 9, 6-9pm: 6th Annual Black Forest Biergarten Fundraiser @Black Forest Log School Park $30

• Aug 19, 6pm: Social Cornhole Fall Leagues @various CoS locations $52 (Sign up by 7/31)

• Sept 28, 11am-6:30pm: Blues On The Mesa @Gold Hill Mesa, 142 S Raven Mine Dr $50

• Sept 28, 6-10pm: SKSF Night of Comedy 25 yr fundraiser @Boot Barn Hall, 13071 Bass Pro Dr $85-$600 (Early bird pricing ends 7/31)

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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}