Colorado Springs is blessed to have Manitou Springs just Southwest of Downtown. Eclectic is just a start in describing the variety you will find.
The students who aren’t home schooled attend district 14 which ranges from the town of Manitou Springs, North up highway 24 through Green Mountain Falls.
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:
30 properties sold
Median total square feet was 2,204
Median list price $338,750
Median sold price $328,750
Sales price to list price 97.70%
Median sales price per square foot $146
Cumulative days on market 71
Median year built 1978.
The oldest house sold was built in 1885.
For the most recent 3 months:
35 properties sold
Median total square feet was 2,086
Median list price $310,000
Median sold price $307,000
Sales price to list price 99.09%
Median sales price per square foot $150
Cumulative days on market 46
Median year built 1976.
The oldest house sold was built in 1890.
Median list prices and sale prices are a little higher.
Median sales price per square foot is up $4 per square foot from $146 to $150.
On a 2,100 square foot that is an increase of $8,400 just since last Fall.
Cumulative days on market is the most significant change. Down a median of 25 days from 71 days last Fall to just 46 days this Spring.
This is a popular area for people who want to live near the Springs, but in an area that is not all cookie cutter houses. It is also the closest area to be able to head up highway 24 to the mountains and open spaces outside the city.
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.