๐Ÿก Latest Home Sales and Market Insights for Colorado Springs

Local Real Estate Edition | #24-237 8/24/24

COS Town Tidings #24-237

Real Estate Roundup Edition

๐Ÿก Unlock the Colorado Springs Housing Market: Latest Home Sales and Market Insights - (Gmail will truncate, click to READ ONLINE)

๐Ÿ“ข ATTENTION REATORS! ๐Ÿ 

๐Ÿก Uncertain Times for Springs Homebuyers

๐Ÿ“ข ATTENTION MORTGAGE BROKERS!

๐Ÿ“‰ Will the Fedโ€™s Rate Cut Impact Your Mortgage?

๐Ÿก Homes For Sale

๐Ÿ“† Local Events | ๐Ÿ› DEALS

๐ŸŒค COS Weather - Partly cloudy and hot

Todayโ€™s Real Estate Roundup is Sponsored by Your Neighborhood Realty!

 


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Real Estate Roundup

๐Ÿก Unlock the Colorado Springs Housing Market: Latest Home Sales and Market Insights

Black Forest

Black Forest Homes Sold

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

Briargate Homes Sold

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

Broadmoor Homes Sold

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

Cimarron Hills Homes Sold

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

Banning Lewis Ranch Homes Sold

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

Mountain Shadows Homes Sold

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

Old Colorado City Sold

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

Downtown Colorado Springs Homes Sold

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

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๐Ÿž Natureโ€™s Start Bread Company

*Now serving soft tacos for breakfast and lunch 6:30am-1:30pm Thurs-Sat!

๐Ÿ“ข ATTENTION REALTORS! ๐Ÿ 

Knock Knock Hello GIF by Aurora Consulting - SBA EIDL Experts

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] 

๐Ÿก Uncertain Times for Springs Homebuyers

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

 

๐Ÿ‘ฉโ€๐ŸณChef Abigail, CoS Eats LLC

 

๐Ÿ“ข ATTENTION MORTGAGE BROKERS!

Homeowner Clear To Close GIF by Ruoff Mortgage

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

๐Ÿ“‰ Will the Fedโ€™s Rate Cut Impact Your Mortgage?

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]

  • ๐Ÿ’ธ 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 Reduction! 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

 

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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

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