The Black Forest area of Colorado Springs has seen another strong month of real estate sales for August of 2017. There were 20 sales in the Black Forest area. We think this has more to do with lack of inventory than lack of demand.
Another factor effecting the number of sales in the Black Forest area is the Median Sales Price. This number rose to a new high of $480,000. This is a 43% increase from the 10 year period low of $335,500 in 2011.
The Colorado Springs Real Estate market is extremely price sensitive, so it came as no surprise that this increase to affected the volume of sales for the area.
We will keep a close eye on this area through the final two-quarters of 2017 to see where this market goes.
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