🎙 POLL: Downtown High-rise? 🏡 Latest Home Sales and Market Insights in Colorado Springs

COS Local News & Events | Issue #066 - Real Estate Edition

16 Dec • Reading Time: 12 minutes

Inside COS Town Tidings Issue #066

Real Estate Edition

🤣 Today’s Chuckle
🌞 COS Weather - Sunny and unseasonably warm

🏙️ Colorado Springs Downtown Skyline Controversy
 🎙 POLL Shaping Our Skyline: Where Do You Stand?

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

  • Black Forest

  • Briargate

  • Broadmoor

  • Downtown & Nearby Colorado Springs

  • Banning Lewis Ranch

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We are excited to present our latest issue, focusing on the dynamic and ever-evolving Colorado Springs housing market. In this edition, we bring you the most up-to-date information on recent home sales and market insights, providing you with valuable knowledge to navigate the local real estate landscape.

With a pulse on the local market, we aim to deliver the latest home sales data, trends, and expert analysis, all in bimonthly, comprehensive special Saturday issue. Our team has compiled* essential market insights to help you stay ahead in your real estate endeavors.

From neighborhood spotlights to pricing trends and insider tips, we strive to equip you with the knowledge to navigate the intricacies of the Colorado Springs housing market so you can have an informed conversation about the market conditions in your neighborhood.

*Data source: Redfin

 

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🏙️ Colorado Springs Downtown Skyline Controversy

Colorado Springs City Council debates a proposal to limit downtown building heights to 247 feet, sparked by a plan for a 36-story apartment building. The proposed restriction contrasts with current zoning, allowing for taller structures. The council's decision may impact a luxury apartment project seeking approval for its ambitious height, set to change the downtown skyline. Some members emphasize the need for preserving the city's character, while others argue for density to foster small business growth. The ongoing effort to update the Form-Based Code will influence the city's vision for growth.

🎙 POLL Shaping Our Skyline: Your Voice!

Where do you stand on the proposed high-rise buildings in downtown Colorado Springs? Share your opinion

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

Black Forest

Black Forest housing market is competitive, with median home prices at $617K (down 42.6%) and $236 per sq ft (down 22.6%). Homes may receive multiple offers. On average, homes sell for 2% below list price in 43 days, certain properties sell at list price in 35 days. Between Sep '23 - Nov '23, 60% of buyers looked to move out, while 40% stay in the area. Top metros searching to move in are from Los Angeles, Dallas, and Washington.

Properties recently sold:

  1. Dec 8, 2023: 18145 Woodhaven Dr, COS 80908; Sold for $650,000 | 5 Beds | 3 Baths | 3,396 Sq Ft (Walden III - Single Family Residential)

  2. Dec 5, 2023: 12523 Fulford Ct, COS 80908; Sold for $875,000 | 3 Beds | 3 Baths | 4,093 Sq Ft (Sylvan Meadows - Single Family Residential)

  3. Nov 17, 2023: 18650 Clydesdale Rd, COS 80908; Sold for $510,000 | 2 Beds | 2 Baths | 2,254 Sq Ft (Langknecht - Single Family Residential)

Briargate

Briargate housing market is moderately competitive, with a median home price of $480K (unchanged from last year) and $194 per sq ft (up 6.9%). On average, homes sell at list price in 36 days, while desirable properties may sell for about 1% above list price in just 19 days.

Properties recently sold:

  1. Dec 7, 2023: 2480 Linenhall Ct, COS 80920; Sold for $670,000 | 4 Beds | 4 Baths | 3,958 Sq Ft (Colorado Springs - Single Family Residential)

  2. Nov 30, 2023: 3815 Presidio Pt #201, COS 80920; Sold for $316,000 | 2 Beds | 2 Baths | 1,103 Sq Ft (Presidio at Briargate - Condo/Co-op)

  3. Nov 29, 2023: 8230 Broughton Ct, COS 80920; Sold for $659,000 | 5 Beds | 3.5 Baths | 3,249 Sq Ft (Trafalger Point - Single Family Residential)

Broadmoor

Broadmoor housing market is relatively calm, median home price of $638K (up 1.2%) and $266 per sq ft (down 2.6%). On average, homes sell for about 4% below list price in 56 days, while sought-after properties may sell at list price in 29 days.

Properties recently sold:

  1. Dec 13, 2023: 319 W Cheyenne Rd, COS 80906; Sold for $910,000 | 3 Beds | 3 Baths | 4,056 Sq Ft (Cheyenne Creek - Single Family Residential)

  2. Dec 6, 2023: 51 Marland Rd Unit A, COS 80906; Sold for $1,925,000 | 5 Beds | 5 Baths | 4,049 Sq Ft (Broadmoor - Single Family Residential) 

  3. Dec 4, 2023: 1759 Creek Edge Vw, COS 80905; Sold for $828,000 | 3 Beds | 2.5 Baths | 3,133 Sq Ft (Ivywild - Townhouse)

Downtown & Nearby Colorado Springs

Downtown Colorado Springs housing market is less competitive, median home price of $285K (down 26.5%) and $249 per sq ft (down 16.6%). On average, homes sell for about 3% below list price in 55 days, while desirable properties may sell at list price in just 12 days.

  1. Dec 12, 2023: 616 E Monument St, COS 80903; Sold for $428,000 | 3 Beds | 2 Baths | 952 Sq Ft (FL Martin Assignee William B Youngs - Single Family Residential)

  2. Dec 8, 2023: 752 E Costilla St, COS 80903; Sold for $405,000 | 2 Beds | 1.5 Baths | 1,573 Sq Ft (Ord And Swopes - Single Family Residential)

  3. Dec 6, 2023: 1023 N Weber St, COS 80903; Sold for $695,000 | 4 Beds | 3 Baths | 3,606 Sq Ft (Elisha C Kimballs - Single Family Residential)

  4. Dec 4, 2023: 119 W Mill St, COS 80903; Sold for $292,000 | 2 Beds | 1 Bath | 959 Sq Ft (Scholz & Eyes Sub - Single Family Residential)

Banning Lewis Ranch

Banning Lewis Ranch housing market is moderately competitive, median home price of $525K (up 3.6%) and $163 per sq ft (down 18.1%). On average, homes sell for about 1% below list price in 55 days, while sought-after homes may sell at list price in 28 days.

  1. Dec 8, 2023: 6521 Shadow Star Dr, COS 80927; Sold for $434,900 | 3 Beds | 3 Baths | 1,832 Sq Ft (Banning Lewis Ranch - Single Family Residential)

  2. Dec 1, 2023: 7215 Fauna Glen Dr, COS 80927; Sold for $682,000 | 5 Beds | 3 Baths | 4,536 Sq Ft (Banning Lewis Ranch - Single Family Residential)

  3. Nov 30, 2023: 8290 Longleaf Ln, COS 80927; Sold for $440,000 | 3 Beds | 3 Baths | 2,689 Sq Ft (Banning Lewis Ranch - Single Family Residential)

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