El Paso County Real Estate

$5,000 Buyer Incentive Prior to Auction Sale: 1117 Willow Bend Cir #4 Colorado Springs CO 80918

October 24, 2023 by Toby Lorenc

Location: Dublin Manor Condos, 1117 Willow Bend Cir, #4, Colorado Springs, CO 80918 El Paso County

Auction-Reserve Sale: Reserve Price $230,000. Worldbid Auction December 7th 2023 Noon via sealed bid. Pre-Auction offers are accepted with any contingencies up to November 27th 2023 Noon Mountain Time. Auction day bids are non-contingent. If you submit a Pre Auction offer, seller will provide buyer a credit of $5,000 at close of escrow, if buyer submits Pre Auction offer no later than November 27th 2023 and buyer ‘s offer is accepted by the seller and buyer closes escrow no later than November 27th 2023. No exceptions to the date deadlines will be allowed. A 3% buyer’s premium must be added to your offer. Auction day bidding, Buyer’s may obtain financing, though is not a contingency. Proof of funds to close, approval letter, a $3,000 registration deposit is required with your auction day bid. You may conduct your inspections anytime.

Additional Auction Info: https://premiereestates.com/1117-willow-bend-circle-unit-b-colorado-springs-co-80918/

Property Info: https://www.peakdream.com/homes-for-sale-details/1117-WILLOW-BEND-CIRCLE-B-COLORADO-SPRINGS-CO-80918/3515125/68/

Contact the Listing Agent: https://www.peakdream.com/agent-detail/Toby-Lorenc/123657/

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Pikes Peak MLS Real Estate Stats

June 19, 2018 by Toby Lorenc

As we launch into the summer season, it’s going to be easier to sell a home but tough as a buyer. The May 2018 numbers have been released, and we continue to have more home sales each month and fewer homes being listed. Although our days on market are down even from the previous month (April 2018), our average home price continues to increase.

Keep in mind, these stats are for the entire Pikes Peak MLS, which includes El Paso County as well as other surrounding counties including parts of Teller, Chaffee, Custer, Douglas, Elbert, Fremont, Lincoln, Park and Pueblo.

Average Home Price: $355,927 (Single family homes and patio homes – doesn’t include condos/townhomes)

This has increased from $348,527 only a month earlier in April 2018. As the average home price increases, we see more sales activity in the $300,000-$400,000 price range. Just a few months ago, almost half of the sales activity was in the $200,000-$300,000 price range. As of May 2018, each price range now make up about 30% of sales. That means over 60% of home sales between $200,000-$400,000. If you’re a buyer in this price range, you’re competing in an extremely competitive market, and homes on average are selling for 100.54% of list price (meaning, over the listed price).

Average Days on Market: Dropped to 22

If you’re just looking at El Paso County, the average days on market is 21. However, for our entire PPMLS area, it’s 22 days which is the average across all price ranges. This has decreased from April as well, so homes are selling quicker even in the past month. Also, if you’re in that “hot spot” price range of $200K-$400,000 the average days on market for the past 90 days = 6 days on market. Homes in that high demand bracket are selling in less than a week.

Sold Homes and New Listings Both Up

We saw an increase in the number of homes sold in May, jumping from 1,286 in April to 1,568 in May. So, nearly a 22% increase in sales of homes and as mentioned above, they’re selling for an average of $7,000 more than they sold in April.
Also, our total number of new listings in May was 2,080, just about 100 more new listings than we saw in April (1,972). It’s almost exactly what we saw in May 2017 as well, when we had 2,053 new listings so year-over-year there was no significant change.

What to Expect for Summer 2018

We have no reason to believe this market will slow down, even in the next few years. It will remain a seller’s market and prices will likely continue to increase with homeowners seeing drastic appreciation (probably averaging 13-18% per year). Whether you’re looking at statistics for single family homes, or condos and townhomes, all area appreciating very well and at a steady rate. It matters more on the area, rather than the style of home. Contact your favorite agent to find out stats on your specific neighborhood and how it’s appreciating in value.

Other Helpful Links:

Claim Your Home and Get 3 Instant Valuations
1st Quarter Real Estate Trends in Colorado Springs
Increasing Mortgage Rates: Time to Make Your Move!

Is 2018 The Year To Cash In?

February 14, 2018 by Sylvia Jennings

Is it YOUR year?

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.

Colorado Springs Housing Market is 6th Hottest In US

July 13, 2017 by Sylvia Jennings

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.

El Paso County Real Estate

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