How’s the market in Briargate?
Everyone knows the Colorado Springs Real Estate market is insane right now. People are moving here in droves, from all over the country. They come from overpriced Silicon Valley (and still root for the Warriors, unfortunately) to join our growing engineering market. They come from Texas to get out of the heat. They come down from Denver to avoid the sky rocketing prices. Wherever they’re from, people are moving to this bustling city for so many reasons. But just how much is the market booming? We’ve looked at the stats, and they’re absolutely crazy!
That graph is probably the most shocking we have in this article. The blue line represents the median list price for homes, and the green line is the median of days it took to sell the house. Back in June 2015, the average days on the market in Briargate was 50, with the median price at $300,000. Now, the median price has jumped to $350,000 with the median days on the market at just five. That is absolutely unbelievable. Summer is traditionally the season with the quickest sales turnaround, but as you can see from the graph, five days was unheard of before. So what does this mean? It means many things, but primarily it means that a lot of people are buying homes in Colorado Springs, and buying so quickly because they know the price point is excellent right now. We’ve had homes this year priced above what they would’ve gone for last year, and they’ve received multiple offers that takes the price even higher. It’s a great time to sell and, before the prices get even higher, it’s a great time to buy and invest in a growing city.
That table gives some more insight into the current Colorado Springs real estate market up-tick. In May 2016, there were 40% less houses available for sale in Briargate. That’s related to number of different things. Primarily, the influx of people in the Colorado Springs population has created an absence of homes on the market, which contributes to the rising prices and the quick sales.
Of course, the real estate market can be unpredictable. But, from all the data we have, it seems clear that the city of Colorado Springs is in for a bright future. As always, if you’re looking to make a wise investment, be sure to call us and get your future started today! You thought you were just reading some real estate data, but you also got an ad for Blue Picket Realty. Win-win!
colorado springs real estate market