Market Report - Colorado Springs – Briargate area – Woodmen Pointe
The prime selling season for all neighborhoods in Colorado Springs runs from the middle of May through the middle of September.
Woodmen Pointe in the Briargate area is a relatively new subdivision, built during the mid 2000’s. In keeping with Colorado Springs reputation for having an abundance of parks, Woodmen Pointe has three parks, Buckskin Charlie Park, Frank Castello Park and Fairfax Park. The John L. Stone Park which features a skate board area is also nearby.
These homes are zoned to the highly recognized Academy District 20 schools. Elementary schools, Timberview Middle School, Liberty High School, District 20 stadium, and the East campus of the Classical Academy are just minutes away.
Just around the corner at the intersection of Woodmen and Powers is St. Francis hospital, recognized as one of the 50 best hospitals in America.
Woodmen Pointe is close to major shopping centers that include Walmart, Sam’s Club, Target, Home Depot, Lowe’s, Hobby Lobby, Old Navy and a local favorite Bird Dog BBQ. The nearest IMAX theatre is just 5 miles away.
Life Time fitness, Villasport and the YMCA have outstanding facilities nearby.
Houses in Woodmen Point vary from 2,600+ to 4,300+ square feet. Most are two stories.
Asking prices range from the low 200’s to mid 300’s.
For May 20 to September 20
2010, 2011, difference
All sales both years were 2 stories.
UNITS SOLD 4, 3, -1
AVERAGE # OF BEDROOMS 3.75, 4, +.25
AVERAGE # OF BATHROOMS 3, 3.33, +.33
AVERAGE # OF GARAGE SPACES 3, 2.33, -.67
AVERAGE SQUARE FEET 3,774, 3,079, -695
AVERAGE LIST PRICE $316,575, $274,633, -$41,942
AVERAGE SALES PRICE $306,500, $268,000, -$38,500
AVERAGE LIST PRICE PER SQUARE FOOT $85.49, $92.50, $7.01
AVERAGE SALES PRICE PER SQUARE FOOT $81.20, $87.04, $5.84
ANALYSIS:
New residents to Colorado Springs can be confused about the value to place on different house features.
Sales in Woodmen Pointe 2010 / 2011 are a good example of why buyers get confused.
In 2011, the average number of bedrooms and bathrooms were higher than 2010.
But the average number of garage spaces were smaller, as was the average square footage.
But the average list price per square foot and the average sales price per square foot was higher in 2011.
The details shed some light on the story.
The majority of the basements in Colorado Springs have been built out. Woodmen Pointe is an interesting exception. Most of the houses were built in the mid 2000’s. There is a lower than typical number of houses where the original builder built out the basements. And the houses are new enough that the owners haven’t yet made it high priority to build out the basements.
So none of 2010 sales had a built out basement. And one of the sales was a corporate relocation which had a $28,900 price reduction early in the sales cycle.
On the other hand, 2 of the 3 2011 sales had built out basements and upgrades such as central air and 42 inch Maple cabinets.
It takes careful and complete analysis of each individual house in Colorado Springs to be sure you are buying the best possible house at the lowest possible price.
Comments(0)