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.
Colorado Real Estate Market
3485 Flying Horse Rd, Colorado Springs, CO 80922 Coming Soon
3485 Flying Horse Rd, Colorado Springs, CO 80922
Our team is hard at work again with another new Colorado Springs property for sale. 3485 Flying Horse Rd is a home in Springs Ranch, well equipped and thoroughly upgraded with hardwood floors, security system, air conditioning, auto sprinkler system, a large fenced backyard, plus a new roof and fresh paint.
Q: What are the basic stats of the home?
A: This is a single family home with 4 bedrooms, 4 bathrooms, a 3 car garage and a total of 2038 square feet. It is the Charleston model, built by Classic Homes in 1997. Click here to see the El Paso County property information..
Q: Where is the home located?
A: Conveniently located just off the Powers corridor on the east side of Colorado Springs, you’ll have access to a wide selection of shopping, restaurants, entertainment, and top notch D49 schools.
Q: Why is this home a good investment?
A: This area of Colorado Springs continues to grow and appreciate quickly, with high demand for more housing. Whether you’re looking for a primary residence, a property to invest in as a rental property, VRBO, or a vacation home you’ll see additional value almost instantly.
Q: How can I set up a showing of 3485 Flying Horse Rd?
A: Contact the listing agent Marion Meyer for more information or to request a showing.
1924 Berkshire Ln Colorado Springs CO 80909 Coming Soon
1924 Berkshire Ln Colorado Springs CO 80909 will be on the market in September 2017! Even though the brick rancher was built in 1962, it’s still the original family selling it today!
Many memories were created in this 5 bedroom, 3 bathroom single family home in the Northglen subdivision in the heart of Colorado Springs. There’s plenty of space to create areas for playrooms, bedrooms, outdoor relaxing and recreation, and quality family time. Plus, space for working with an office, a huge laundry and storage room, and easy access to the garage with a rear entry to the backyard.
We were delighted to discover some pieces of history in this home. Probably the best surprise was the beautiful original wood floors under the carpet on the main level! Although parts of the house have been updated, like newer windows throughout most of the home, there are still some wonderful bits of history.
Property taxes are still at a low $700 per year and there are no active HOA’s in this established neighborhood. That means you could get into this house with a downpayment just under $7,000 for a 30-year loan and a monthly mortgage payment around $1300!
Keep watching for more information or request a showing today before it’s listed in the local MLS.
HOUSE STATS:
5 Bedroom / 3 Bathroom / 1 car garage
2,538 sq ft + 275 sq ft attached garage
Built: 1962
School: District 11
Style: Ranch with full basement
Contact Toby Lorenc, your Colorado Springs real estate professional.
Coming Soon – 5790 Pamlico Dr Colorado Springs, CO 80923
OPEN SATURDAY 1-4 PM!!
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.
Colorado Springs Housing Market is 6th Hottest In US
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.
Five Colorado Springs neighborhoods around Garden of the Gods Park
Garden of the Gods Park is surrounded by unique neighborhoods that all offer different amenities and styles of living. Here are 5 that we’ve selected around Garden of the Gods Park.
Cedar Heights
Bordering the west side of Garden of the Gods Park, a 24-hour manned security gate opens to nearly 1,000 acres of luxury custom homes and breathtaking views. Cedar Heights sits just above the red rocks park in the foothills between Colorado Spring and Manitou Springs, providing a convenient yet secluded setting with over 300 acres specifically set aside as open space. Although most properties in this area are existing home for resale, some Cedar Heights land lots still exist ready to be the site of your future home.
Kissing Camels Estates
Named after the Kissing Camels rock formation in Garden of the Gods park, this gated community provides easy access to shopping and open space. The custom homes are set on large lots and private, quiet streets. Plus, the community includes a pool, rec center, and tennis courts available to residents. Within the gated community, the Garden of the Gods Club operates a 27-hole champions golf course, along with additional club amenities including a restaurant. Perfect for country-club living, with easy access to golf and relaxation.
Pleasant Valley
Affordable and central living in the valley, ideal for families who want to be close to schools, parks and events. This high-demand area has many long-time homeowners and homes that reflect architecture primarily of the 1950’s – 1970’s. With its wide streets, dedicated bike lanes, and access to trails and open space, Pleasant Valley provides a great environment for your adventurer who wants to live with easy access to the Colorado life.
Mountain Shadows
Despite the devastating Waldo Canyon Fire in 2012 which destroyed nearly 350 homes in this area, the community has rebuilt and become even stronger. Community parks and hiking trails provide plenty of outdoor resources and home prices are primarily in the median price range in the Colorado Springs area. Many residents choose Mountain Shadows for its convenient location near Garden of the Gods Rd which is lined with shops, restaurants, and major retailers.
Manitou Springs
A quirky and lively community with a wide range of homes and history. There are frequently events, parades, and celebrations in this historic small town which is also the gateway to Pikes Peak Cog Railway. The streets are lined with quaint shops and tourist attractions, including the Manitou Arcade, Iron Springs Chateau Theater, and historic Miramont Castle. Homes tend to be older and more historic, offering a great alternative to living in downtown Colorado Springs.
Contact any of our experienced real estate agents for more information, a Market Snapshot of any of these communities or to find out what your home is worth.
Experienced Real Estate Agents
The 12 experienced real estate agents in the Berkshire Hathaway HomeServices Rocky Mountain Realtors Downtown Office have nearly 130 years of combined real estate experience. Our agents continue to learn and develop their real estate knowledge by taking additional continuing education and acquiring specialized designations. For instance, we have agents who are specially trained and certified to work with seniors, understanding and navigating the unique needs and situations that affect real estate decisions during this stage of life.
Take a look at some of the designations and certifications our agents have used to qualify themselves as your Colorado real estate professionals:
Seniors Real Estate Specialist® (SRES)
Qualified to address the needs of homebuyers and sellers ages 50+ and counsel clients through major financial and lifestyle transitions in relocating, refinancing, or selling the family home.
Certified Distressed Property Expert® (CDPE)
Agents have a thorough understanding of complex issues in today’s turbulent real estate industry and knowledge of foreclosure avoidance options available to homeowners. CDPEs can provide solutions, specifically short sales, for homeowners facing market hardships.
Quality Service Certified® (QSC)
Whether you are purchasing a home or selling a home, you’ll receive a written pledge called the Quality Service Commitment, detailing the real estate agents services they will perform during the process of representing you. Once your home has closed, you’ll receive a follow-up confidential survey by mail to rate the agent and assess the level of service provided. Agents who fall below a certain threshold in ratings lose this designation. Our agents are consistently rated 5.0, the highest “Platinum” level for this designation.
Accredited Buyer’s Representative® (ABR)
This designation is the benchmark of excellence in buyer representation. The coveted designation demonstrates to peers and consumers the agent’s commitment to providing outstanding service for real estate buyers.
Certified Negotiation Expert® (CNE)
The real estate agent you choose is typically your only connection between you and the other parties in the real estate transaction. Whether it’s buyers, sellers, or other real estate agents, a certified CNE agent has learned the skills to negotiate the terms, price and contract details that keep your best interests top priority.
Graduate, REALTOR® Institute (GRI)
Combining every aspect of the real estate process, this designation is a cornerstone for agents who desire to have a holistic understanding of the industry. From legal and regulatory issues to technology and the sales process, agents create a strong educational foundation and commit to provide a high level of professional services.
Military Relocation Professional (MRP)
Real estate agents trained to understand and work with the specific needs and situations of those who serve or have served our country. From knowledge about the time tables and military terms, to understanding benefits and VA loans, agents with the MRP are always on duty.
Awards and Recognition’s: A Trusted Brand
Additionally, Berkshire Hathaway has been recognized by Harris Poll as Real Estate Agency Brand of the Year and Most Trusted Real Estate Brand. Plus, BHHS was awarded by J.D. Power and Associates as “Highest Overall Satisfaction for Repeat Home Sellers Among National Full Service Real Estate Firms” in the J.D. Power 2017 Home Buyer/Seller Satisfaction Study.
Contact us today and let our experience work for you. What’s YOUR dream?
Spring Selling Season Is Fast and Furious
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
For more news, click on this link to our latest newsletter.
Strong Demand Causes Home Inventory Shortage Across Colorado
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.
Millennials Lead Local Housing Boom
Local rents have soared 10.4% this year, making Colorado Springs the top city in the U.S. for rent increases in 2016. The soaring cost of rental housing is contributing to the home buying rush among Millennials. Young adults are buying homes at a faster pace than any other market segment across the country. The Millennial generation is now the largest in the nation, outgrowing the Baby Boomers this year, according to the U.S. Census. And our area has a greater number of young adults than the majority of U.S. cities. The median age in Colorado Springs is 34.4 compared to the national average of 37.4.
As we predicted last November, the 2016 Colorado Springs housing market is in record territory, and there’s plenty of mo’ in the market heading into November. Single family home sales skyrocketed 14.4% in October over 2015, and the average home is now worth 11.5% or $30,000 more. The latest stats, released today by the Pikes Peak Association of REALTORS, show home prices and sales both hit all-time highs for the month of October. October 2016 Home Sales Report
The market trend suggests that home sales will fall off only slightly December, which should be welcome news to home sellers and anyone who is planning to list their home before the end of the year.
By contrast, October sales in Denver took an 11.43% nosedive year over year, and plunged almost 17% from September as home buyers are struggling with rising prices and record low inventory. Even rents have been pushed downward by the frenzy of new apartment construction. Denver Metro Market Report
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