COS Town Tidings #24-293

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! 🏠

🏠 Deals or Delays? Fall Housing Market 

📢 ATTENTION MORTGAGE BROKERS!

📈 Mortgage Rates Rise Again: What’s Next?

🏡 Homes For Sale & Short term, 6 mth rental

📆 Local Events

🌧 COS Weather - Rain, cool and breezy

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

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

Black Forest

Black Forest housing market is somewhat competitive. $981K (+1.6%). Average days to sell: 54 (~2% below list); hot properties: list price in 18 days. Jul-Sept '24: 51% searched to move out, top metros moving in: Denver, Los Angeles, Dallas.

Properties recently sold ranging from $358K to $12.6M. Click to view Black Forest listings

Briargate

Briargate housing market is very competitive. Median price: $525K (-4.5%). Average days to sell at -1%: 28; hot properties: +1% above list in 11 days.

Properties recently sold ranging from $309K to $723K. Click to view Briargate listings

Broadmoor

Broadmoor housing market is somewhat competitive. Median price: $602K (-2.1%). Average days to sell: 46 (~2% below list); hot properties: ~1% below list in 19 days.

Properties recently sold ranging from $865K to $1M. Click to view Broadmoor listings

Cimarron Hills

Cimarron Hills housing market is somewhat competitive. Median price: $396K (-7.8%). Average days to sell: 46; hot properties: +1% list price in 20 days.

Properties recently sold ranging from $345K to $657K. 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: ~1% below list: 31; 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 somewhat competitive. Median price: $600K (-6.2%). Average days to sell: 34 (~1% below list); hot properties: list price in 16 days.

Properties recently sold ranging from $495K to $625K. Click to view Mountain Shadow listings

Old Colorado City

Old Colorado City housing market is somewhat competitive. Median price: $415K (-7.8%). Average days to sell: 46 (~2% below list); hot properties: ~ list price in 22 days.

Properties recently sold ranging from $239K to $239K. 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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🏠 Deals or Delays? Fall Housing Market

The Fall 2024 real estate market is shaping up to be slower than expected. After a September interest rate cut by the Federal Reserve, many anticipated a drop in mortgage rates, but instead, rates have ticked back up to the mid-6% range. The summer saw flat prices and sales, and uncertainty continues to affect both buyers and sellers. With more homes lingering on the market, the upcoming winter months will likely see fewer transactions and more room for negotiation on price.

For buyers, there may be opportunities to purchase homes at a discount, especially those that have been listed for a long time and need some work. Sellers, however, will need to take extra care in preparing, marketing, and pricing their homes to stand out in a competitive environment. As the year closes, economic uncertainty and upcoming Federal Reserve decisions will shape the market’s next steps. Source

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

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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]

📈 Mortgage Rates Rise Again: What’s Next?

After a period of decline, mortgage rates have risen again, with the average 30-year rate now at 6.44%, following a brief low of 6.08%. The Federal Reserve’s 50 basis point cut in September, the first in over four years, has provided some hope for lower borrowing costs. However, experts predict that mortgage rates will likely stabilize rather than fall significantly in the near future.

Homeowners with high mortgage rates may find refinancing options appealing as rates slowly decrease, but those with rates below 4% will likely hold off. As we move into 2025, housing affordability remains a concern, with broader economic factors influencing the mortgage market. *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

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📆 Local Events

• Oct 21, 5:30-8:30pm: UNDIVIDE US Screening + discussion @Cornerstone Arts Center, Colorado College, 825 N Cascade Ave FREE (registration required)

• Oct 26, Nov 28, Dec 14: YMCA 5K Races $30-$40

• Oct 26, 4:30-7:30pm: Night at the Museum @Pioneers Museum, 215 S Tejon $5 (registration required)

• Oct 27, 9:30am-4pm: Pup-kin Fest @ Venetucci Farm $9.11

• Oct 28, 3:30-5:30pm: Beginners Crochet Class @Who Gives A SCRAP, 810 Arcturus Dr $25 (4 Spots Left)

• Oct 31, 4-7pm: Dave & Boo-ster's @Dave and Buster's, 9277 Highland Ridge Hts $10

• Nov 8 (7pm), 10 (2:30pm): An Evening of Roman-ticism @Ent Center for the Arts, 5225 N Nevada $13-$41 (Selling Out Fast)

• Nov 9, 6-9pm: Murder Mystery, A Noteworthy Crime @Great Wolf Lodge, 9494 Federal Dr $72.95

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

• Nov 21-22 (7pm), 23 (2:30 & 7pm), 24 (2:30pm): It's a Wonderful Life A Live Radio Play @ First United Methodist Church - 420 North Nevada $5

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

• Dec 7 (10am-5pm), 8 (10am-4pm): Candy Cane Craft & Gift Show @Colorado Springs Event Center, 3960 Palmer Park Blvd $8 (Order Tickets Before Nov 15 Save $2)

  • —> Sourdough bread and unique gift baskets: 🍞 A Slice of Home: Nature's Start Bread Co Rises in Colorado Springs

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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}