COS Town Tidings #24-265

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! 🏠

🏘️ Is Colorado Springs’ Housing Market About to Shift?

📢 ATTENTION MORTGAGE BROKERS!

📉 New Fed Cut: What Happens to Mortgage Rates?

🏡 Homes For Sale & Short term, 6 mth rental

📆 Local Events

🌦 COS Weather - Mild temps with possible rain after noon

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

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Black Forest housing market is somewhat competitive. Median prices: $1.23M (+50.9%). Average days to sell: 41 (~2% below list); hot properties: list price in 11 days. Jun-Aug '24: 51% searched to move out, top metros moving in: Los Angeles, Denver, Dallas.

Properties recently sold ranging from $699K to $1.05M. Click to view Black Forest listings

Briargate housing market is omewhat competitive. Median price: $525K (+1%). Average days to sell at -1%: 29; hot properties: +1% above list in 12 days.

Properties recently sold ranging from $400K to $1.6M. Click to view Briargate listings

Broadmoor housing market is somewhat competitive. Median price: $715K (-44.9%). Average days to sell: 42 (~3% below list); hot properties: list price in 10 days.

Properties recently sold ranging from $370K to $385K. Click to view Broadmoor listings

Cimarron Hills housing market is somewhat competitive. Median price: $372K (-6.2%). Average days to sell: 33; hot properties: +1% list price in 11 days.

Properties recently sold ranging from $295K to $569K. Click to view Cimarron Hills listings

Banning Lewis Ranch housing market is somewhat competitive. Median price: $498K (-9.55%). Average days to sell: list: 27; hot properties: list price in 10 days.

Properties recently sold ranging from $467K to $515K. Click to view Banning Lewis Ranch listings

Mountain Shadows housing market is somewhat competitive. Median price: $630K (+12.9%). Average days to sell: 31 (~1% below list); hot properties: list price in 11 days.

Properties recently sold ranging from $360K to $695K. Click to view Mountain Shadow listings

Old Colorado City housing market is somewhat competitive.Median price: $544K (+34.2%). Average days to sell: 43 (~2% below list); hot properties: ~ list price in 18 days.

Properties recently sold ranging from $255K to $781K. 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 (Last sale was Aug 23rd). Click to view Downtown Colorado Springs listings

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Colorado Springs' housing market is expected to stabilize, with modest price drops predicted through 2025 due to declining mortgage rates. Buyers may find more opportunities, while sellers may need to adjust expectations in the months ahead. Source

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

For the first time in four years, the Federal Reserve has decided to lower interest rates by a small amount. This is big news because the Fed had been keeping rates high to fight inflation. While this rate cut might help a little, experts are saying don’t expect your mortgage rates to suddenly drop. However, if you have a home equity line of credit (HELOC), you could see your borrowing costs go down right away.

As mortgage rates slowly get better, more people might start buying homes again, which could lead to more inventory being available. The Fed is hinting that more rate cuts might be on the way, but they’re still watching inflation and unemployment to make their next move. *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}