COS Town Tidings #24-237

Real Estate Roundup Edition

🏡 Unlock the Colorado Springs Housing Market: Latest Home Sales and Market Insights - (Gmail will truncate, click to READ ONLINE)

📢 ATTENTION REATORS! 🏠

🏡 Uncertain Times for Springs Homebuyers

📢 ATTENTION MORTGAGE BROKERS!

📉 Will the Fed’s Rate Cut Impact Your Mortgage?

🏡 Homes For Sale

📆 Local Events | 🛍 DEALS

🌤 COS Weather - Partly cloudy and hot

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

Which house weighs the least?

👉 A lighthouse 🤣

Black Forest housing market is somewhat competitive. Median prices: $930K (+3.3%). Average days to sell: 36 (~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 $813K to $1.5M. Click to view Black Forest listings

Briargate housing market is somewhat competitive. Median price: $550K (+9.2%). Average days to sell at list: 29; hot properties: +1% above list in 12 days.

Properties recently sold ranging from $319K to $680K. Click to view Briargate listings

Broadmoor housing market is somewhat competitive. Median price: $755K (-15.9%). Average days to sell: 49 (~4% below list); hot properties: list price in 14 days.

Properties recently sold ranging from $715K to $2.4M. Click to view Broadmoor listings

Cimarron Hills housing market is somewhat competitive. Median price: $395K (-1.3%). Average days to sell: 35; hot properties: +1% list price in 7 days.

Properties recently sold ranging from $332K to $455K. Click to view Cimarron Hills listings

Banning Lewis Ranch housing market is very competitive. Median price: $529K (+2%). Average days to sell: list: 26; hot properties: +1% list price in 8 days.

Properties recently sold ranging from $472K to $660K. Click to view Banning Lewis Ranch listings

Mountain Shadows housing market is somewhat competitive. Median price: $610K (+.7%). Average days to sell: 36 (~1% below list); hot properties: list price in 21 days.

Properties recently sold ranging from $540K to $645K. Click to view Mountain Shadow listings

Old Colorado City housing market is somewhat competitive. Median price: $466K (-.22%). Average days to sell: 46 (~2% below list); hot properties: ~ list price in 18 days.

Properties recently sold ranging from $279K to $745K. Click to view Old Colorado City listings

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 $430K. Click to view Downtown Colorado Springs listings

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]

In July 2024, Colorado Springs' real estate market experienced a surge in inventory, reaching its highest levels since 2016. Despite a 45.2% year-over-year increase in available homes, sales have remained flat, signaling buyer hesitation amid rising interest rates and economic concerns. While median home prices hit a record $499,000, the market's sluggish pace and increasing price reductions reflect broader uncertainty. As the Federal Reserve considers potential rate cuts, the long-term impact on the housing market is still unclear. Real estate professionals are navigating these changing dynamics, with cautious optimism as the market evolves. *Source

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

Mortgage rates have fallen to their lowest levels in over a year, with the average 30-year fixed rate now at 6.46%. While rates have been gradually decreasing since mid-July, experts expect only modest further declines, even if the Federal Reserve cuts its benchmark interest rate in September. The anticipated rate reduction may stabilize mortgage rates around 6.4% by year's end. Home prices, however, are expected to remain high, particularly for first-time buyers, although increased inventory might offer some relief. Buyers might also consider assumable mortgages to secure lower rates. *Read Source

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

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

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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}