School district 12, the Cheyenne Mountain district is a very popular and well regarded district to the Southwest of downtown Colorado Springs. The famous Broadmoor Hotel complex lies within district 12 and it is near both Fort Carson and the Cheyenne Mountain military installation.
With the Colorado Springs market heating up let’s look at the last 3 months of 2015 and the most recent 3 months.
For this comparison I will focus on the most typically sold properties, those from $200,000 to $600,000.
For the last 3 months of 2015:
57 properties sold
Median total square feet was 2,966
Median list price $350,000
Median sold price $347,500
Sales price to list price 97.87%
Median sales price per square foot $121
Cumulative days on market 69
For the most recent 3 months:
73 properties sold
Median total square feet was 3,025
Median list price $399,900
Median sold price $385,000
Sales price to list price 97.97%
Median sales price per square foot $124
Cumulative days on market 48
Median list prices and sale prices are higher but the sample size is rather small.
Median sales price per square foot is up $3 per square foot from $121 to $124.
On a 3,000 square foot that is an increase of $9,000 just since last Fall.
Sales price to list price is almost identical.
Cumulative days on market is the most significant change. Down a median of 21 days from 69 days last Fall to 48 days this Spring.
While this area has not been impacted quite as much as other areas, savvy buyers would do well to know what they want and not let good properties slip away.