COS Town Tidings #24-279

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! 🏠

🏡 What’s Driving Housing Costs in Colorado Springs?

📢 ATTENTION MORTGAGE BROKERS!

📉 How the Fed's Latest Move Affects Your Home Loan

🏡 Homes For Sale & Short term, 6 mth rental

📆 Local Events

🌞 COS Weather - Sunny, hot with record temps and wind gusts

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

What room are Zombies most afraid of?

👉The living room 🤣
 

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

Black Forest

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: Jul-Sept '24: 51% searched to move out, top metros moving in: Denver, Los Angeles, Dallas.

Properties recently sold ranging from $681K to $1M. Click to view Black Forest listings

Briargate

Briargate housing market is omewhat competitive. Median price: $525K (+0%). Average days to sell at -1%: 29; hot properties: +1% above list in 12 days.

Properties recently sold ranging from $325K to $1M. Click to view Briargate listings

Broadmoor

Broadmoor housing market is somewhat competitive. Median price: $656K (+6.7%). Average days to sell: 38 (~2% below list); hot properties: list price in 11 days.

Properties recently sold ranging from $580K to $1.2M. Click to view Broadmoor listings

Cimarron Hills

Cimarron Hills housing market is somewhat competitive. Median price: $372K (-6.2%). Average days to sell: 36; hot properties: +1% list price in 12 days.

Properties recently sold ranging from $207K to $464K. Click to view Cimarron Hills listings

Banning Lewis Ranch

Banning Lewis Ranch housing market is very competitive. Median price: $486K (-5.7%). Average days to sell: list: 27; hot properties: list price in 16 days.

Properties recently sold ranging from $410K to $538K. Click to view Banning Lewis Ranch listings

Mountain Shadows

Mountain Shadows housing market is very competitive. Median price: $630K (-6.2%). Average days to sell: 31 (~0% below list); hot properties: list price in 13 days.

Properties recently sold ranging from $535K to $700K. Click to view Mountain Shadow listings

Old Colorado City

Old Colorado City housing market is somewhat competitive. Median price: $544K (+34.2%). Average days to sell: 48 (~2% below list); hot properties: ~ list price in 23 days.

Properties recently sold ranging from $317K to $1.1M. Click to view Old Colorado City listings

Downtown Colorado Springs

Downtown Colorado Springs housing market is not very competitive. Median price: $327K (-23%). Average days to sell: 63 (~3% below list); hot properties: list price in 27 days.

Properties recently sold for $187K to $468. Click to view Downtown Colorado Springs listings

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📢 ATTENTION REALTORS! 🏠

Are you a local realtor (or know one) wanting to become one of our experts? Our subscribers want to hear from YOU directly! Or are you selling a home or property? We can also list open houses. Inquire for details at [email protected] 

🏡 What’s Driving Housing Costs in Colorado Springs?

Housing costs in Colorado Springs have risen sharply over the past year, with home prices increasing by over 16% and rental prices surging. The city’s desirable quality of life, growing job market, particularly in tech, and limited housing supply are key factors driving the increase. The average home now sells for $546,000, while the average rent exceeds $1,500 per month. Zoning restrictions and higher construction costs have compounded the issue, making it harder to build new homes. While Colorado Springs remains more affordable than cities like Denver, its housing crunch is straining residents and forcing city officials to focus on affordable housing solutions. Source

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

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🥘 *Party Food! (Watch Parties, Tailgate & More) Cooking Class 
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📢 ATTENTION MORTGAGE BROKERS!

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

📉 How the Fed's Latest Move Affects Your Home Loan

The Federal Reserve cut its key interest rate by 50 basis points for the first time in four years, bringing it down to between 4.75% and 5%. This marks a shift from its year-long focus on reducing inflation, during which rates were at their highest in over two decades. Despite the cut, mortgage rates are unlikely to see a sharp decline in the short term, as housing experts suggest rates have already anticipated the Fed’s move. While the 30-year mortgage rate has been slowly easing, the impact on affordability remains limited. 

Homeowners with HELOCs could benefit from lower rates, and refinancing could be advantageous for some, especially if they negotiate with lenders or improve their credit score. *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. 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

🙋‍♀️ Are you looking for a cozy six-month rental, starting Oct? 

We personally know the owner of this fully furnished 4-bed, 2-bath Victorian home in Old Colorado City that could be perfect for you or someone you know. It's full of charm, within walking distance to 120 shops and restaurants, and includes a rare one-car garage. Interested? Click for details and inquiry quickly as time is a tickin…⏳

❓ Do you have Real Estate Questions?

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

📆 Local Events

• Oct 8, 2-3:30pm: Chocolate USA @PPLD: Ruth Holley, 685 North Murray Blvd FREE (12 Seats Left - Registration required)

• Oct 12, 1-3pm: Tea for Two and a Plate Rack Too Miniature Class @Who Gives a Scrap, 810 Arcturus Dr $25 (3 Spots Left)

• Oct 12, 9am-3pm: Free RV Winterization Class @Pikes Peak RV, 4815 E Platte (Few Spots Left)

• Oct 12, 10am-Noon: Tamale Making Class with Monica @Lebowski’s Taproom, 3240 Centennial Blvd $45

• Oct 12, 1-3:30: Forest Bathing Walk @Bear Creek $25-$30 (Prepaid registration required)

  • —>🌟Spotlight: 🍂 The Healing Power You've Been Overlooking

• Oct 14, 3:30-5:30pm: Beginners Crochet Class @Who Gives A SCRAP, 810 Arcturus Dr $25 (2 Spots Left)

• Oct 18-20, 25-27, 31, 4-8:30pm: Boo at the Zoo @Cheyenne Mountain Zoo $23-$25 Family Friendly

• Oct 19, Noon-2pm: Spooky Charcuterie Class with Charcuterallie @Goat Patch Brewing, 2727 N Cascade $60.54 (10 Seats Left)

• Oct 19, 6-9pm: Murder Mystery, A Noteworthy Crime @Great Wolf Lodge, 9494 Federal Dr $72.95 (11 Tickets Left)

• Oct 20, 11am-1:30pm: Chunky Blanket Workshop | Mimosa Included! @Painting With A Twist (downtown) $75 (5 Seats Left)

• Nov 10, 7-8:30pm: Cave of the Winds Soundbath @Cave of the Winds $65 (Limited Tickets Available)

• Nov 22-24: Vintage Market Days of Colorado Springs @Norris Penrose Ctr, 1045 Lower Gold Camp Rd $13.30-$18.42

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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}