Colorado Springs Home prices (lease, mortgages, loans)

[Vision67]

"A Realtors Association report for May also showed:

- Homes sold more than twice as fast as a year ago - averaging 35 days on the market in May compared with 74 days during the same month last year. About 90 percent of the sales occurred in the Springs and El Paso County, with others taking place in Teller, Pueblo, Fremont and other Front Range counties.

- The median price - or midpoint - of homes sold in May soared to $262,000, topping the previous record high of $250,000 set in June 2015. May's median price also increased 7.8 percent from the same month last year; median prices also have risen for 18 straight months on a year-over-year basis."

Home sales and prices set another record in Colorado Springs | Colorado Springs Gazette, News

[lovecrowds]

Still alot more for the money as opposed to Denver.

Home prices in 80918 can be bought for 100 dollars a square foot. Monument runs between 100-120 dollars a square foot for a run on the mill house.

Homes in this city are huge compared to most cities. Colorado Springs is alot like Utah County in Utah where the home sizes are huge so they make homes look more expensive then they are when the reality is that both offer alot of house for the money.

If you go East to Meridian or down to Fountain it is even less.

Colorado Springs has some of the biggest home sizes in the country, so even with the increased prices it is still cheaper per square foot then most cities.

Colorado Springs is still a bargain on homes, for apartments not so much. I still don't understand why there is not a massive influx of retirees to this area.

Compare that to areas in Denver like Cole and Park Hill with lots of social issues where out of state buyers are paying 300 dollars or more per square foot for small homes that have tiny lots as opposed to Colorado Springs.

It is incredible the difference in price per square foot in Colorado Springs as opposed to Denver. One can get a 4,000+ square foot home in Colorado Springs with a massive lot at the same price as small house in North Denver.

[hollyt00]

I wonder if there is a big bubble happening here with prices... some houses here in the Old North End are going for astronomical prices.

[rewardgal]

Given the number of 'baby boomers' now retiring/relocating and things I mentioned below I'm not surprised to read about the home price trends here.

We just bought and moved into a home in northern Colorado Springs after leaving Maryland where we lived for 40+ years. Our retirement home location search spanned several years and covered more than 7 states so I think we saw a wide variety of homes, prices and market conditions in rural and suburban areas.

We left one of the priciest counties in Maryland (Montgomery County - bordering DC) to find a home with one floor living; small yard w/low maintenance; nearby shopping; view of mountains etc. within the $300k - $500k range. While house hunting here we were happy to find:

---the large number of one story homes with enormous basements and 3 car garages for sale which are almost unheard of in all but $800k homes in MD; both uncommon on east coast
---underground utilities and gas appliances in many neighborhoods which we always wanted but not found as easily back east
---lower per sq foot $ in many parts of the city but home insurance costs varied widely and cost a bit more than in MD but we understand why given certain hazards and home size etc.
---decent traffic conditions especially compared to the horrendous congestion found in the Washington, DC metro area; even driving in Denver at rush hour isn't quite as bad as suburban Maryland
---beautiful clean air (yes with storms and hail) and great scenery and parks
---and so on.......while this town isn't perfect it certainly has a great number of plusses

Yes, we could be in another housing bubble but we weathered the horrendous housing crash in 2008 losing almost $300k value on our last home; we will weather another if we need to in a home and town we really love so far!

[Vision67]

"Anything under $300,000 is going to sell within a week or less if it's priced correctly," Betts said.

Colorado Springs home sales and prices set more records in June | Colorado Springs Gazette, News

[esas]

Just closed on FSBO home, over $400K, less than 2 weeks for sale. Homes are moving quick, but I don't see that they've appreciated in any way...prices seem to be staying steady over the long haul.

[TCHP]

Two homes in my neighborhood were recently being prepared for sale. They were owned by elderly owners who had decided to move in with their children. They must not done much research in pricing as when they were ready to list them, as agents purchased them before hitting the MLS. Of course the owners thought it was great as they got their asking price, low $200s, on homes they bought in the mid $20k range many decades ago. A third home within a few blocks that was quite a bit newer than the above two units with significantly less character, smaller lot, smaller home, and on a busier street sold for $350k within the same afternoon of listing.

[JohnCurtisEstes]

Originally Posted by TCHP

Two homes in my neighborhood were recently being prepared for sale. They were owned by elderly owners who had decided to move in with their children. They must not done much research in pricing as when they were ready to list them, as agents purchased them before hitting the MLS. Of course the owners thought it was great as they got their asking price, low $200s, on homes they bought in the mid $20k range many decades ago. A third home within a few blocks that was quite a bit newer than the above two units with significantly less character, smaller lot, smaller home, and on a busier street sold for $350k within the same afternoon of listing.

On my street in Briargate the houses were under $100K when new back in '86 or so , mostly 3 BR, 2 BR houses. They are now over $200K when they hit the market and sell in a week or so.


And many are not even that well-kept, lots of trashy yards etc... but I assume much less for the same size house (or larger) than they had in Cali so it is all good, right?

[beezle1]

The crazy Denver market is starting to catch up with us.

[Vision67]

Today the Gazette posted an update of the Colorado Springs RE market:

"But bidding wars, delays in getting appraisals, a tight supply of homes in the $300,000-and-under range and an oversupply of half-million-dollar-and-up properties are among problems that have led to head-banging frustrations for buyers, sellers and even their real estate agents."

Colorado Springs' hot housing market isn't without its problems | Colorado Springs Gazette, News