First time home owners in Academy District 20 then, and now.

By
Real Estate Broker/Owner with Colorado Real Estate Advisers LLC CO ER100025633

Colorado Springs has a number of first time home buyers on its own and then there are those who don’t want to live in a big city like Denver or can’t afford to live in Denver.

 

Some jobs, like nurses or other medical personnel, who work 12 hours shifts, can live in the Springs and drive in to Denver just 3 times a week.

 

Other people, especially technology employees, may be able to work from home and just go to the office a few times a month.

 

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 typical properties for first time buyers, those from $160,000 to $280,000 in district 20.

 

For the last 3 months of 2015:

 

129 properties sold

Median total square feet was 2,338

Median list price $250,000

Median sold price $250,000

Sales price to list price 98.80%

Median sales price per square foot $106

Cumulative days on market 43

Median year built 1987.

The oldest house sold was built in 1964.

 

 

For the most recent 3 months:

 

115 properties sold

Median total square feet was 2,138

Median list price $249,500

Median sold price $249,700

Sales price to list price 100.00%

Median sales price per square foot $115

Cumulative days on market 9

Median year built 1986.

The oldest house sold was built in 1963.

 

In a season where the number of properties should have risen, sales decreased a little.

 

Median list prices and sale prices are stable but the median sales price per square foot is up $9 per square foot from $106 to $1115.

 

On a 2,200 square foot that is an increase of $19,800 just since last Fall.

 

Cumulative days on market is an astounding change. Down a median of 34 days from 43 days last Fall to just 9 days this Spring.  36 of the 115 sales, 31%, went under contract in 3 days or less.

 

District 20 a very popular area for schools, shopping and proximity to Denver.

 

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. 

Posted by

David Gibson, 

Certified Negotiation Expert (CNE)

Broker / Owner Colorado Real Estate Advisers LLC

Independent Real Estate Broker

Colorado (License # ER100025633) and Texas (License # TX 499067)

Email: broker719@gmail.com

Phone: 719-304-4684

3326 Sand Flower Dr, Colorado Springs, CO 80920

I help my clients buy "A Better House at Lower Cost."

 

Sellers ~ I offer staging, professional photography, drone photography and videos. I'd like to send you a link to our listings so you get an idea how great your house can look.

 

Call or text me at 719-304-4684, or email me at broker719@gmail.com for more house choices and better deals.

Comments (3)

Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

David

The Academy-District 20 Colorado is a great location for first time home buyers . . . . to buy.

Good luck and success.

Lou Ludwig

May 14, 2016 11:35 AM
Noah Seidenberg
Coldwell Banker - Evanston, IL
Chicagoland and Suburbs (800) 858-7917

Hi David excellent Colorado Springs  Academy District 20 market update. Helping first time buyers is always a great feeling.

May 14, 2016 12:24 PM
Belinda Spillman
Aspen Lane Real Estate Colorful Colorado - Aurora, CO
Colorado Living!

I frequently tell people that they can get so much more if they just go down to the Springs.  It is a good option for the expensive real estate in Denver.

May 15, 2016 08:08 AM