The Black Forest area of Colorado Springs is a large area located north and east of Downtown Colorado Springs. The area is, for the most part, a dense ponderosa pine forest, hence the name.
Black Forest is a popular area because it offers large lot sizes with both trees and views. Most of the homes in this area are custom builds on lots ranging from 2.5 to 10 acres.
The Black Forest area saw a massive wildfire back in 2013. The fire damaged or destroyed 489 homes and caused millions of dollars in damage. The area has rebounded from the fire and the real estate market is strong.
| Number of Sales | 70 |
| Median Sales Price | $587,500 |
| Price Per Square Foot | $159 |
| Average Days on Market | 73 |
The first quarter was very strong for the Black Forest area. These statistics are pre-COVID-19 numbers. While the stay at home orders went into effect during the first quarter, we don't expect to see the bad news until the second and third quarters of the year.
Standout Neighborhoods
While the Black Forest area did well as a whole, there were certain neighborhoods that really stood out. Here are some of the highlights for the first quarter of 2020.
Black Forest Reserve:
Black Forest Reserve is a private gated community located in The northeastern part of Black Forest, this area features large lots, 2.5 acres on average and towering ponderosa pines. Here are the Q1 2020 Real Estate statistics for "Black Forest Reserve".
| Number of Sales | 2 |
| Median Sales Price | $792,500 |
| Price Per Square Foot | $171 |
| Average Days on Market | 2 Days |
Park Forest Estates
Park Forest Estates is an older neighborhood located in the southeast corner of the Black Forest of Colorado Springs. This neighborhood is seeing a lot of interest because of its location, this is a great neighborhood to find a home for a remodel project.
| Number of Sales | 2 |
| Median Sales Price | $596,385 |
| Price Per Square Foot | $182 |
| Average Days on Market | 50 |
Sylvan Meadows
Sylvan Meadows is a great subdivision located at the eastern edge of the Black Forest area of Colorado Springs. Homes in this neighborhood were built in the early 2000s. This area consists of Custom Homes are larger lots. The area has seen an explosion of commercial development in the past 5 years which has added much-needed amenities to the Sylvan Meadows neighborhood.
| Number of Sales | 1 |
| Median Sales Price | $735,000 |
| Price Per Square Foot | $140 |
| Average Days on Market | 2 |
Wildwood Village
Wildwood Village is an older Black Forest neighborhood located in the northeastern portion of Colorado Springs Black Forest. This area was developed and built in the mid to late 80s. This is another favorite area for people interested in remodeling older homes on GREAT lots.
| Number of Sales | 6 |
| Median Sales Price | $632,500 |
| Price Per Square Foot | $165 |
| Average Days on Market | 101 |
Woodlake
Woodlake is another older subdivision that is located at the eastern edge of Black Forest. Woodlake is in the Falcon District #49 attendance area. Homes in the area were built primarily in the late 1980s through the mid-1990s.
| Number of Sales | 3 |
| Median Sales Price | $590,000 |
| Price Per Square Foot | $137 |
| Average Days on Market | 32 |
In Conclusion
The first quarter of 2020 in the Black Forest area was very healthy. Most of the transactions were recorder or at least in process when Colorados "Stay at Home Order" was issued. We don't expect the second quarter to be as strong as Q1 but we hoping to get back to selling as soon as possible. Check back next quarter to see how it turns out.
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