District 11, often referred to as the “central district,” is the original school district in Colorado Springs. It has a rich history.
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:
434 properties sold
Median total square feet was 2,335
Median list price $249,975
Median sold price $248,000
Sales price to list price 99.08%
Median sales price per square foot $109
Cumulative days on market 40
Median year built 1978.
The oldest house sold was built in 1888.
For the most recent 3 months:
534 properties sold
Median total square feet was 2,264
Median list price $253,500
Median sold price $252,700
Sales price to list price 100.00%
Median sales price per square foot $113
Cumulative days on market 9
Median year built 1977.
The oldest house sold was built in 1885.
Median list prices and sale prices are a little higher.
Median sales price per square foot is up $4 per square foot from $109 to $113.
On a 2,300 square foot that is an increase of $9,200 just since last Fall.
Cumulative days on market is the most significant change. Down a median of 31 days from 40 days last Fall to just 9 days this Spring.
This is a popular area with abroad variety of house styles and decades in which they were built. Not all houses at the same price level are of the same value. Buyers need to be working with a veteran broker who can educate them on the differences and help them with a strategy to get the house they want.