If you live here and own a home, you’re $70,000 richer than you were 24 months ago. That’s how much home values have risen since January of 2016. Ka-ching! In statistics just released by the Pikes Peak Association of REALTORS (PPAR), the average single family home is selling for $333,000, compared to $263,000 in January 2016. In 5 years, local home prices have soared by $100,000. Record demand, low supply and a strong economy have pushed local home prices up much faster here than the Denver metro area, making Colorado Springs one of the 10 hottest housing markets in the country: 2018 Top 10 Housing Markets. We’re predicting another record year for home sales with Millennials leading the stampede. Young people are getting better jobs and jumping into the housing market. And the other trend to watch is move-up buyers. We’ll see thousands of local homeowners cash in this year to use their growing equity as a down payment on the next home of their dreams. With some spiffing up, your home could potentially sell for $20,000 or $30,000 more. In many cases, it’s worthwhile to make major improvements in order to get top dollar. If you want to avoid a costly mistake, consult with your real estate agent first. We can tell you how much a project is worth, help you decide what to do, and refer you to a trustworthy pro to do the job if it’s beyond your expertise.
In a city the size of Colorado Springs which is constantly changing and growing, it’s good to have some reliable sources of information. Whether you’re looking to go out for a bike ride, find locally sourced food, buy a house or report a problem to the city, there’s an app for that. Take a look at our favorite apps for the Colorado Springs area.
Colorado Springs Trails (by Quibus Enterprises, Inc)
Grab your bike, your trail running shoes, or your walking stick and enjoy the many trails throughout the Colorado Springs area. This app provides pictures, maps and descriptions to help you navigate and mark these trails off the list of places you’ve been. You’ll be the expert tour guide when you’re out hiking with your friends, thanks to this free mobile app.
LocalFoodCS (by Vrello Apps)
This app can be used by everyone to help encourage eating and sourcing local food. It meets the simplest needs of helping you find a great restaurant, food truck or bar to visit with friends or family. But you’ll be able to do much more than simply search. Now, you can connect with others to sell food if you are growing or producing locally and you can find others who source food like farmers, community gardens, coffee roasters and apiaries (also known as a bee yard). You can even find neighbors near you who want to sell their fresh eggs, berries or honey. Download the app from iTunes or Google Play, explore all the options, and enjoy the food!
GoCoSprings (by GOGovAps, Inc)
Most of us go online or use our mobile devices for information, and the city of Colorado Springs making it easy to find answers to questions about our community with a robust website, www.coloradosprings.gov, and a very cool app: GoCo Springs.
Available on iTunes or the Google Playstore, GoCo Springs users can ask a question, report a problem like a pothole or graffiti, or submit feedback. Just select your topic and take a picture, if applicable. The app knows the location and sends your request directly to the correct city department. You can even track the progress of your request to make sure it is completed.
You will even be able to check real-time information, like flight arrival and departures at the Colorado Springs Airport (COS) and find where the current “cone zones” are on the city streets to help you avoid delays.
Plus, there are great opportunities to connect and reach out on social media, find contacts at the city, or learn about upcoming events.
Find a home, rental, or open house
Finally, we’ve got a great app too! If you’re looking to purchase a home, find a rental, or search open houses near you, you’ll be able to find it all on the BHHS free mobile app.
Use these handy mobile apps to explore this wonderful city and enjoy finding new things! Let us know what you find, what you like and if you have other great apps for exploring. Follow us on Instagram and use #iExploreCOS to share your pics and experiences.
The local housing market is not letting off any steam, with September home sales surging 9.3% over last year. But the overheated condo market is even hotter. With the strong demand for starter homes, condo sales jumped by 20% year over year in September, and the supply has shrunk by nearly 50%, according to sales reports just released by the Pikes Peak Association of REALTORS. The average price for a townhome or condo is close to $200,000, a 9.6% increase so far in 2017. Single family home prices are up 6.3% year over year.
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This Pottery Barn perfect 2-story has a canopy of shade trees in front, beautiful fenced back yard, and is absolutely move-in ready. Completely updated with luxury features & fresh design touches, including cottage-style paneled ceiling and artful finishes. Vaulted ceilings, open and bright interior, gas fireplace, and a large eat-in kitchen with granite counters, white cabinets, and center island. Our favorite feature is the private master bath, with shower, soaking tub, custom tile accents, and a cascading waterfall faucet.
This stucco rancher on almost 3 acres in Pueblo West offers a sanctuary from the pace of city life. Needs TLC and yard work. Located less than 10 minutes from Lake Pueblo, zoned to allow horses and there is plenty of room to park your RV or build another garage. The possibilities are almost endless! 3 bedrooms, 2 baths, and over 2,600 sq ft of living space. Very large master bedroom with private 5 piece bath and walkout to the deck and fenced back yard. Basement has a 3/4 bath, bedroom, and huge bonus room with a closet that could be used as a wonderful guest area. 20 S Calle Del Sud, Pueblo CO 81007 is offered at $240,000. Contact Sylvia Jennings at 719-491-1116 to schedule your private showing today.
Our city’s skyline will soon be dotted with new high rise buildings, if redevelopment plans for southwest downtown are approved, by adding a 19 story hotel, 17 story residential tower, 15 story office building and huge underground parking garage to the area surrounding the Olympic Museum. N’orwood Development Group has been working for years with city planners on the nearly $2 billion master plan, but details and illustrations of the concept were just released at this week’s city council meeting. Pedestrian-friendly green areas and walkways, framing magnificent views of Pikes Peak, are integrated into the design.
Even long-time supporters of downtown’s redevelopment might be surprised to view the scope and scale of the plan, which would boldly transform the southwest area into a densely populated urban district, like no other. By focusing on our unique status as Olympic City USA, it’s vision is to “extend the energy and mission of the Olympic Museum into downtown, to great a new urban neighborhood focused on health, wellness and the outdoors”.
We’re sure there will be robust community dialogue about the concept, which would fund some of the public improvements through the creation of a new Urban Renewal District. View or Download Southwest Downtown Plan
Southern Colorado’s housing market is firecracker hot this summer, even as home prices continue to rise at a much faster pace then the rest of the country. The average home price in El Paso County now tops $326,000, a 10.6% jump from average price last June. The National Association of REALTORS (NAR) reports the Springs leads the Rocky Mountain area for home sales, hitting the 6th spot for Hottest Housing Market, above Denver. A record 1,743 homes sold in Colorado Springs in June, up 5.6% from last June. Home buyers had more properties to choose from, as rose 16.8% from May. But homes in the most affordable price ranges are still selling within days, not weeks, and above asking price. The average home is on the market 24 days, with the average in some areas as low as 7 days. June 2017 Sales Charts
The inventory crunch is across the U.S. NAR says this is the first time that 1 in 3 homes is selling in under 30 days nationally. The demand for affordable homes is building among first-time home buyers and baby boomers. NAR economist Javier Vivas says millions of older and younger Americans are snapping up starter homes and urban dwellings like never before.
Denver’s lack of affordable homes has been pushing metro-area home buyers south to Colorado Springs for years, but the city’s job growth and surging economy are also bringing new residents here in droves. A majority of the 12,000 + available job openings are for high-paying positions in nursing, software engineering and systems engineering, with a median salary of over $67,000.
The spring selling season has taken off a month earlier than usual in Colorado Springs.
Your favorite REALTORS are revving our engines, buckling our seatbelts, and ordering more of those snazzy Berkshire Hathaway yard signs. Our real estate market is red hot, and homes are getting snapped up as fast as we can list them.
After a slight dip in February, sales came roaring back in March. A record total of 1,247 homes sold in the Pikes Peak region last month, a 55.9% increase from February, and at an average price of nearly $300,000 with most sellers getting 100% of list. Link to El Paso CO Sales Charts March 2017
Year to date home sales are just slightly ahead of 2016, but the frenzy of competing buyers and number of under contract properties tell us that sales will remain strong, inventory will stay low, and prices will keep going up.
Realtor.com says buying activity is stronger than usual across the country, listing Colorado Springs at #7 on the list of the nation’s hottest markets, just behind Denver at #4. Link to 20 Hottest Real Estate Markets 2017
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Despite a nearly 30 percent increase in new single-family and townhome/condominium listings from January to February 2017, Colorado’s housing market continues to battle record low inventory, according to the latest statewide housing report from the Colorado Association of REALTORS® (CAR).
The addition of 7,099 single-family listings and 2,228 new townhome/condominium listings, of which more than half were in the Denver-metro region, was matched by consistent statewide sales resulting in an 8 percent dip in the total inventory of active listings from January to February 2017. El Paso County has just a 1.1 month supply of available single family homes, pushing the average home price up over $25,000 to over $302,000. Local townhome prices have jumped an average of $23,000 to $192,199.
Those time-consuming and expensive trips to DIA could soon become a thing of the past. Frontier Airlines has announced a huge expansion to its service to Colorado Springs, with the addition of direct flights to 7 cities: Washington-Dulles, San Diego, Los Angeles, Chicago-O’Hare, Tampa, and Ft. Myers. City leaders have been working for years on improving the performance and passenger traffic at the Colorado Springs airport, so they’re pretty excited about the changes. Local business and leisure travelers should be excited, too. If the additional flights generate enough interest, Frontier and other airlines will probably respond with even more direct flights, and could potentially bring us back to the boom days of the 1990’s. Frontier’s got $29 one-way offerings today only, so book your flight now!