Colorado Springs, Briargate, Windjammer market report 5/1/2011 to 9/30/2011 compared to the same period in 2010

Windjammer is one of the core subdivisions in the Briargate area. The 270+ homes were built from the early 80’s to early 90’s.

These homes are zoned to the highly recognized Academy District 20 schools. Rampart High school is adjacent to the subdivision; elementary schools, middle schools, District 20 stadium, and the East campus of the Classical Academy are nearby.

Colorado Springs is known for having plenty of parks and Windjammer is no exception. Rampart Park, Ford Frick Park, and Wedgewood park are nearby and the John L. Stone park, featuring a skateboard park, is just minutes away.

Windjammer is close to major shopping centers that include Walmart, Sam’s Club, Target, Home Depot, Lowe’s as well as a favorite local hang out Bird Dog BBQ.

Life Time fitness, VillaSport and the YMCA have outstanding facilities nearby.

Houses in Windjammer vary from 1,500+ to 4,200+ square feet.

Many houses have oversize garages but a few of the two stories have garages that are on the small side.

Between 5/1/2010 and 9/30/2010 there were 6 sales and for the same period in 2011 there were 2 sales.

2010                      2011

3,174              2,673 average square feet

$259,383       $257,450 average list price

$83.08          $100.31 average list price per square foot

$255,083       $255,500 average sales price

$81.36          $99.43 average sales price per square foot

98%                 99% sales price / list price

29                    35 average days on market

ANALYSIS:

With only 2 sales during this 5 month peak selling season in 2011, it is prudent not to read too much into the numbers although both houses sold were updated and represented the neighborhood fairly.

Listing agents are doing a good job of pricing the houses as they got 98 and 99 percent of list price.

The extra week on the market is indicative of buyers being a bit more cautious and taking a little longer to look.

While you would expect the average e sales price per square foot to be higher on the smaller houses sold in 2011 a $15 per square foot jump is significant. Buyers are willing to pay for the top properties in a neighborhood.

This average sales price in the mid 250’s is indicative that incomes and debt ratios are staying about the same. Buyers will typically buy at the top end of what the can afford and a steady average sales price indicates that wages and debt ratios are holding steady.

Windjammer will remain a bellwether neighborhood. I expect market values to hold fairly steady for the coming year.