COS Town Tidings #24-223

Real Estate Roundup 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! 🏠

📊 Housing Market at Crossroads: Inventory Climbs, Sales Stall

📢 ATTENTION MORTGAGE BROKERS!

📉 Mortgage Rates Dip, But Big Drops Unlikely

🏡 Homes For Sale

📆 Local Events

🌦 COS Weather - Cooler with PM T-Storms

🏅 Olympic Update - Medal Count

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

Why did the faucet go to the doctor?

👉 It had a leaky valve 🤣

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

Black Forest

Black Forest housing market is somewhat competitive. Median prices: $915K (+1.7%). Average days to sell: 34 (~2% below list); hot properties: list price in 11 days. May-Jul '24: 51% searched to move out, top metros moving in: Denver, Los Angeles, Houston.

Properties recently sold ranging from $550K to $1.2M. Click to view Black Forest listings

Briargate

Briargate housing market is very competitive. Median price: $550K (+9.2%). Average days to sell at list: 27; hot properties: +1% above list in 10 days.

Properties recently sold ranging from $350K to $700K. Click to view Briargate listings

Broadmoor

Broadmoor housing market is somewhat competitive. Median price: $755K (-15.9%). Average days to sell: 41 (~5% below list); hot properties: list price in 8 days.

Properties recently sold ranging from $320K to $1.5M. Click to view Broadmoor listings

Cimarron Hills

Cimarron Hills housing market is somewhat competitive. Median price: $395K (-1.1%). Average days to sell: 33; hot properties: +1% list price in 5 days.

Properties recently sold ranging from $220K to $540K. Click to view Cimarron Hills listings

Banning Lewis Ranch

Banning Lewis Ranch housing market is very competitive. Median price: $529K (+2%). Average days to sell: +1% list: 25; hot properties: +1% list price in 7 days.

Properties recently sold ranging from $470K to $550K. Click to view Banning Lewis Ranch listings

Mountain Shadows

Mountain Shadows housing market is somewhat competitive. Median price: $640K (+.7%). Average days to sell: 38 (~1% below list); hot properties: list price in 15 days.

Properties recently sold ranging from $480K to $640K. Click to view Mountain Shadow listings

Old Colorado City

Old Colorado City housing market is somewhat competitive. Median price: $466K (-.22%). Average days to sell: 44 (~1% below list); hot properties: +1% above list price in 18 days.

Properties recently sold ranging from $185K to $1.7M. Click to view Old Colorado City listings

Downtown Colorado Springs

Downtown Colorado Springs housing market is not very competitive. Median price: $910K (+153.5%) Average days to sell: 63 (~3% below list); hot properties: list price in 27 days.

Properties recently sold for $395K. 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] 

📊 Housing Market at Crossroads: Inventory Climbs, Sales Stall

The Pikes Peak Region's housing market is at a critical juncture, with a significant rise in listings but a sharp decline in sales. The average time homes stay on the market has also increased, signaling hesitation among buyers. Nationally, similar trends are emerging, with high mortgage rates and economic concerns leading to stalled activity. Speculation is mounting that the Federal Reserve may cut rates soon, but economic indicators suggest the housing market remains at risk. *Source

• 🌟 Local Spotlight: 📈 Sell Faster, Earn More: The Front Range Stage Advantage 🏠

📢 ATTENTION MORTGAGE BROKERS!

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

📉 Mortgage Rates Dip, But Big Drops Unlikely

Mortgage rates have begun to decline slightly, but significant drops are unlikely despite potential Federal Reserve rate cuts in September. The FOMC maintained its current rate in July, and inflation remains a key factor. While rates may hover around 6.4% by late 2024, home prices are expected to remain elevated. Buyers are encouraged to explore options like assumable mortgages to secure lower rates as the market awaits further developments. *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 Real Estate Questions?

Click here and let us know

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

📆 Local Events

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

• Aug 12, 7-8:15pm: Lord Of The Rings themed trivia @Lebowski’s Taproom, 3240 Centennial Blvd FREE to attend

• Aug 13 (every Tues), 11am-1:30pm: Food Truck Tuesday @Pioneers Museum, 215 S. Tejon

• Aug 13, 2-3pm: Homeless Initiative Engagement Session for Businesses @City Admin Bldg, 30 S Nevada, Room 102 FREE please register

• Aug 13, 2:30-4pm: El Paso County Economic Development Community Outreach Event @Fountain Library, 230 S Main St, Fountain FREE

• Aug 15, 5-8 PM: 🃏Monthly Charity Cribbage Night @ Colonel Mustard's Sandwich Emporium, 1412 South 21st St $25

• Aug 17, 7-9pm: Wizard Sock Gnome Craft Party @The Mountain Mercantile, 2616 W Colorado Ave Ste 19 $30 (9 Tickets left)

• Aug 18, 9am-2pm: 21st Annual Benefit Car Show @I-25 Exit 161 Monument West FREE to attend, $35-$40 for car registration

• Sept 20, 7pm: Crystal Gayle @Boot Barn Hall at Bourbon Brothers, 13071 Bass Pro Dr $49-$99

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

  • 🌟Spotlight: 🎸Uniting Colorado Springs Through Blues with Amy Whitesell

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🏅 Olympic Update - Medal Count

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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}