The Black Forest is located on the northern end of El Paso County. This area boasts some of the best views of Pikes Peak and gorgeous Ponderersa Pine trees. Some parts of the Black Forest consists of open pasture land. The area covers over 100 square miles.
So far this year, 30 homes have sold. The average sold price was $369,631. The lot size was 7.39 acres. The largest lot sold was 44 acres. As of this time last year, 34 homes had sold. This decrease is not bad considering the loss numerous homes in the fire last summer. The average sales price this time last year was $349,555.
Of the 30 homes, 14 were horse properties with a barn, stable or a loafing shed. 8 of those homes had a shop.
| Number Sold by Price Range Jan 1- March 30, 2014 | |||
| (in the thousands) | |||
| 100-200 | 1 | 3% | |
| 200-300 | 9 | 30% | |
| 300-400 | 9 | 30% | |
| 400-500 | 7 | 23% | |
| 500 -600 | 2 | 7% | |
| 600-700 | 1 | 3% | |
| 700+ | 1 | 3% | |
| Total | 30 | 100% | |
The most expensive home sold for $739,000. Unfortunately, the demand for high end homes is still weak.
As of March 31, 2014, there are 105 homes available for sale in the Black Forest.
| Number Available by Price Range | ||
| As of March 31,2014 | ||
| (in the thousands) | ||
| 100-200 | 1 | 1% |
| 200-299 | 7 | 7% |
| 300-399 | 18 | 17% |
| 400-499 | 28 | 27% |
| 500 -599 | 26 | 25% |
| 600-699 | 7 | 7% |
| 700-799 | 4 | 4% |
| 800-899 | 1 | 1% |
| 900-999 | 1 | 1% |
| 1000-2000 | 11 | 10% |
| 2000+ | 1 | 1% |
| Total | 105 | 100% |
Sellers in the upper price ranges need to be prepared to market their home as best as possible. Professional quality real estate photography should be utilized. The home should be staged ESPECIALLY if it is vacant. Any necessary repairs and updates should be made prior to listing the home. Why take a chance of turning off a potential buyer?
If sellers opt to have a caretaker or a tenant occupy the property in their absence, they need to ensure the occupants are willing to keep the property in showing condition. It is a huge turn off for buyers to walk into a high end home that appears to be occupied by a messy college student - unmade beds, dishes in the sink, dirty dishes left in the entertainment room...
Of course the home should be realistically priced. If your home is close to a signficant price point, such as $500,000 from the chart above, be sure to factor in your holding costs.
Please note: This information was based on activity of homes that were listed with Realtors participating in the Pikes Peak Assocastion of Realtors MLS. It may not include all sales.
Real estate is very local and dependent on location, condition and price. If you would like information about your home, please email me or call.
Sincerely,
Sondra Meyer Peterson, CPA
Real Estate Photographer
Home Stager
Colorado Horse Property Specialist
Colorado. See It. Experience It. Live It
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