The Northwest MLS area of Colorado Springs offers some of the best locations and views in the city. Most of the homes are served by Academy District 20 schools or District 11 schools.
This area is close to the Air Force Academy, Colorado College, the University of Colorado at Colorado Springs as well as the tech companies and downtown.
As you see in the sold data, houses in the area average a little over 3,100 square feet.
Data is for houses that closed between March 20th and December 20th of 2010 and 2011.
2010 - 246 houses sold
| Sold | SqFt | LP | LP/SqFt | SP | SP/SqFt | SP/LP | DOM |
| High | 6,893 | $1,220,000 | $184.42 | $1,050,000 | $178.42 | 110% | 518 |
| Low | 1,149 | $154,900 | $55.70 | $154,000 | $55.62 | 77% | 0 |
| Average | 3,218 | $333,336 | $106.40 | $321,907 | $102.97 | 96% | 86 |
| Median | 3,132 | $300,000 | $104.04 | $293,000 | $102.02 | 97% | 57 |
2011 - 226 houses sold
| Sold | SqFt | LP | LP/SqFt | SP | SP/SqFt | SP/LP | DOM |
| High | 6,712 | $985,000 | $169.09 | $880,000 | $154.80 | 105% | 1,042 |
| Low | 948 | $130,000 | $57.44 | $21,000 | $15.79 | 10% | 0 |
| Average | 3,302 | $339,157 | $104.45 | $325,928 | $100.41 | 96% | 106 |
| Median | 3,191 | $309,250 | $101.74 | $293,500 | $98.51 | 97% | 72 |
"Based on information from the Pikes Peak REALTOR Services Corp. ("RSC"), for the period March 20, 2010 through December 20, 2010 and from March 20, 2011 through December 20, 2011. RSC does not guarantee or is in any way responsible for its accuracy. Data maintained by RSC may not reflect all real estate activity in the market."
ANALYSIS:
By looking at a broad area instead of a subdivision we have a much larger sample size to review.
Volume remain very stable with 246 units sold in 2010 and 226 in 2011. Sales in 2011 were impacted by more stringent lending requirements and the requirement for larger down payments.
Median sales price remained stable at $293,000 for both years.
Sales price to list price was identical for both years at 97%.
Days on market did trend negatively, going from 57 days to 72.
Two negative trends were similar to other areas of Colorado Springs.
The list price per square foot dropped $2.30 psf, from $104.04 to $101.74.
The sales price per square foot dropped $3.51 psf, from $102.02 to $98.51.
SUMMARY:
Many of the houses in the Northwest were built in the 1970’s to 1990’s. These houses are at the age that their functional components, roof, heat and AC, water heater, etc. need to be carefully evaluated. In some cases replacements have already been made. As Colorado Springs only “Home Inspection & Safety Consultant” I can help you compare the value of one house that needs updating to another that has been updated. For a free, no obligation look at some of these homes or to have new listings automatically sent by email, call or text me at 719-304-4684 or email me. Remember that I’m the only broker committed to help you find “hidden” houses that may be for sale, not just those listed in the MLS. Search smarter, contact me today.
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