Receive the Latest Local Market Stats

Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

Get Local Market Reports Sent Directly to You

You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.

We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.

Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

All statistics are courtesy of Empire Title of Colorado Springs.

March 16, 2020

Colorado Real Estate Trends 2020

Colorado is booming, from it’s economy enriched with new businesses and opportunities to its real estate market, the state seems to be enjoying healthy growth. Colorado’s population has steadily increased since 2000, with its job growth more than keeping up with the influx of new residents.

 

Job Growth Spurs The Real Estate Market

Jobs continue to be added thanks to new industries and technology startups finding home in the state that is lessening its restrictions on niche markets. Colorado's unemployment continues to drop following national trends, and more and more people are purchasing first time homes and properties.

 

The military remains a big employer with several branches having bases as well as academies in the mile high state. Tourism continues to be a draw to the region as Colorado offers world class outdoor activities in its uniquely stunning setting.

 

Increase In Millennial And First Time Home Buying

With all of these employment opportunities in Colorado, it is no surprise that the housing market is poised to benefit as well. As the housing market has experienced modest inventory gains, millennial and other first time home buyers are provided more opportunities for purchasing a home than ever before.

 

Natural Progression For Baby Boomers

Baby boomers and Gen Xers are no longer the dominant forces in buying real estate, ceding that title to the millennials. This group of Americans have a need for homes that are affordable, and tend to choose pricing over location. For this reason, states like Colorado are experiencing an influx of new residents who are choosing to leave expensive coastal states behind for more states that offer a better cost of living.

 

For Colorado, this trend is not new. In recent years the Denver metro area has witnessed a steady population growth of newcomers who are following the booming job market to a more attractive lifestyle.

As the baby boomer generation prepares for lightening their financial burdens, many of this generation will be choosing to downsize from their large homes to smaller, more manageable houses, leaving behind a host of available homes on the market. According to Market Watch, this trend is expected to add roughly 920,000 homes onto the market each year between 2020 and 2027.

 

These newly listed homes are in line with what millennials, people between the ages of 23 and 38, are looking to purchase. According to the National Association of Realtors and Sellers Generational Trends Report, these millennials made up 37% of the home buyers in 2019. Understanding these new homebuyer profiles is important to understanding their priorities in purchasing their new homes.

 

Professional Real Estate Advice

In Colorado Springs, realtors such as Best CS Homes are providing experienced service to those who are ready to downsize and sell their homes as well as to the buyers in search of their perfect first home. These trends will continue to produce an exciting real estate market for residents of Colorado and people who want to make the state their new home.

Feb. 13, 2020

Pricing and Positioning in Colorado Springs Real Estate

Pricing and Positioning in Colorado Springs Real Estate

No matter what real estate market you're in, it can be tough to get all of your questions answered. That's definitely true in the Colorado Springs area, where hot neighborhoods are driving markets to be pretty volatile, and you have a lot of properties to choose from.

At Best CS Homes at HomeSmart Realty Group Elite, we help you to cut through the questions and get to the answers, which is easier said than done when you're looking at a particular real estate deal. Here are some common questions that buyers or sellers have based on market complexity.

What's A Good Price?

This is a hard question to answer, even for a professional real estate agent. Price depends on some very important things. First, it depends on location. You pay for property according to where it's located – how close to a metro area, how close to public transit, what schools are in the neighborhood, etc.

In addition, you pay according to the square footage and amenities of the property, and the condition of the property. You also pay according to the demand for similar properties in the local area.

Sound complex? It is. That's why real estate agents conduct comparative market analysis to show clients what their home may be worth.

What Closing Costs Apply?

Here again, the answer to this question is not as simple as a few words.

Closing costs do apply to any real estate transaction. You have title work and legal processes to go through that generate their own costs. You have the cost of a property inspection and other related costs. Then, if you use a real estate agent, you also have the real estate agent’s commission, which ranges into the thousands of dollars and has quite a large impact on the real estate deal.

All of these closing costs are difficult to cover and define without specific research into a particular property deal. That makes this kind of real estate research difficult.

Where Should I Buy?

Neighborhoods are changing all the time. Without good insight into what's happening in a particular neighborhood right now, it can be tough to make a decision about where to invest.

At Best CS Homes at HomeSmart Realty Group Elite, we help with providing direct insight into Colorado Springs neighborhoods as well as providing other kinds of information. We help property owners to figure out the process of how to sell with or without an agent, and how to buy a house in various scenarios.

Our real estate online service helps buyers and sellers to do the research that support the best informed decisions. Check out our custom market reports for sellers and other tools available on the website, and contact our professionals for more information.

Jan. 21, 2020

Finding Your Dream Home in Colorado Springs

Finding Your Dream Home in Colorado Springs

Moving to a new location anywhere can be a great adventure that many people can look forward to. Whether it’s a job opportunity or just a change of scenery, for some, relocation could be seen as a positive direction in their lifestyle. In recent years, Colorado has seen an influx of new residents excited to begin a new life in this beautiful state. With breathtaking mountains and mesas in addition to incredible opportunities, it is no wonder that Colorado has been voted top ten in ideal states to live in America.

Top Reasons to Live in Colorado Springs

There are many good reasons to live in this amazing state, but Colorado Springs is known for being one of the most affordable. It is also fairly close to the state capital, Denver, so those who need to commute often find that Colorado Springs is perfect for setting down roots. People with families, especially with younger children, can appreciate what Colorado Springs has to offer, because the sense of community is seen as strong and productive. Anyone who can appreciate the suburban life can find a sense of home in this quaint city, while the schools here are considered some of the best in the state. Even if you don’t have children, those with fur babies can also enjoy everything this city offers, as it is very pet-friendly.

The weather is amazing in Colorado Springs. Many people discover that their overall sense of well-being and health improves while living here. With plenty of opportunities to get outside and enjoy the crisp, refreshing scenery, most have learned that living in Colorado Springs can be seen as quite luxurious. Whether you are looking for a place to take in the landscape or interested in a casual location to work, there are ample opportunities available in this homey state.

Depending on what sort of home you are looking for, you are sure to find whatever it is that will suit your needs. Whether you are looking for optimal education for your kids or trying to find the best place to work nearby, it should be quite easy to find the ideal situation for your next great adventure.

Whatever you are looking for in a place to live, there is a good chance you can find it here in Colorado Springs. Check out our listings to see what works best for your lifestyle and see if you can discover a new place to call home.

Dec. 18, 2019

How to Determine the Value of Your Colorado Springs Home

How to Determine the Value of Your Colorado Springs Home

At BestCSHomes.com, we strive to be the best source of homes for sale in Colorado Springs. That means providing homeowners – and future owners with information that will help them make the best financial decisions with confidence.

If you’re wondering what your house in Colorado Springs is worth or what the house you want to purchase is worth you can easily find the answer. Honestly, a house is worth whatever you’ll pay for it. However, it also depends on the market, location, and who you’re asking. But knowledge is power and knowing how to calculate your home’s value with the help of online tools and trained professionals will help better prepare you to buy or sell your home.

Find the Value of Your Home

1.    Use Online Valuation Tools

Dozens of home value estimators appear when you search “how much is my house worth?” In fact, 22% of U.S. homeowners who determined their home’s value used an online estimator such as Redfin or Zillow. These automated valuation model tools (AVMs) are generally used for lead generation and marketing purposes. All buyers and sellers are advised to speak with a professional that knows the area and market for a more accurate estimate.

2.    Get a Comparative Market Analysis

When you’re ready to look into your home value, ask a local professional for a comparative market analysis, or CMA. This is not as detailed as a professional appraisal, but a CMA is typically free and provides a professional evaluation of the home and market to provide an estimate of value, typically for listing purposes.

3.    Hire an Appraiser

Lenders require an appraisal before they’ll approve a mortgage, but as a property owner, you can hire an appraiser to estimate home value at any time – it will just cost a pretty penny! Appraisers evaluate:

  • Market: The region, city and neighborhood in which a home is located
  • Property: Characteristics of the house, including improvements and the land it sits on
  • Comparable Properties: Sales, listings, vacancies, cost, depreciation and other factors for similar houses in the same market

This information is combined with other factors to create a final value for the home and delivered in an official report.

4.    Utilize the FHFA House Price Index Calculator

The Federal Housing Financing Agency’s house price index (HPI) calculator applies a more scientific approach than any AVM. The tool uses the repeat sales method by tracking a home’s change in value from one sale to the next. Then it uses this information to estimate how values fluctuate in a given market.

Knowing your home’s value allows you to e:

·  Evaluate what you can afford

·  Determine whether a listing is priced appropriately

·  Decide how to price your own home

In addition to being the best source of real estate in sale in Colorado Springs, BestCSHomes.com is also the best source of information on new homes in Colorado Springs. If you have more questions about real estate, visit our FAQ page or call or text 719-460-6145.

Nov. 27, 2019

The Move Toward Searchable Real Estate

The Move Toward Searchable Real Estate

Let’s face it – the MLS is so yesterday.

That used to be the way it was done – you hired a realtor and he or she combed through the MLS and fed you information. But it’s not quite the same anymore. The Internet has “flattened” the Internet – making information a lot easier to get. But there’s still kind of a need for last-mile delivery in the form of new tools that can showcase what’s available within a neighborhood, and what’s happening in a given real estate market.

That’s where we come in – at Best CS Homes at Homesmart we maintain a “dashboard” view of Colorado Springs real estate that serves our visitors well.

Some of those who are using the site are looking for a primary residence – others may be creating a plan to invest in properties in regard to various commercial strategies. In any case, users can narrow down a search by location, or by numbers of bedrooms and bathrooms, or by many other criteria. They can evaluate a property according to the age of the building, or the floor plan. All of this empowers people to figure out more about how to reach their objectives in a local real estate market.

We Have the Tools

This is just the beginning of what we have built into our business model at Best CS Homes at Homesmart in order to help others to know more about the market around Colorado Springs and beyond. Our mobile app, MOVETO, is another option for home buyers and others to get the information that they need. We have additional resources for first time home buyers, mortgage calculators, resources in Spanish, and more to accommodate research needs.

We recommend trying out some of our tools – playing around with the app and some of the utilities on the web, and getting a feel for how these make real estate research easier. Our site is designed to work in a way that others aren’t: for truly interactive real estate discovery.

 

That's innovation. That's giving people more options. It's a big part of what we do at Best CS Homes at Homesmart. We want to make property hunting different

 

Experienced investors and home shoppers know that time is money – that your strategy has to fit your time management, and that planning and research are a major part of your investment. With Best CS Homes at Homesmart, you can ramp up this research quickly and easily which provides in Norma's value as you move toward settlement. Take a look and see how to get your hands on the right information to buy around the Colorado Springs area.

Nov. 15, 2019

October 2019 Colorado Springs Housing Stats

2019 YTD vs. 2018 YTD - Empire Title's Summary Page for OCTOBER 2019 MLS Stats.

  • Average Price     UP     5.3%
  • Median Price      UP      5.7%
  • Residential Units Sold  UP  1.6%
  • Inventory Levels  UP    1.4%
  • Number of Listings   Down  -2.5%
  • Average Days on Market: Slightly UP 29
  • Interest rates   Slightly UP   3.78%

*This information is deemed reliable, but not guaranteed. It is intended to show market trends and should not be used to evaluate individual properties. Sources for this information include but are not limited to: El Paso County Clerk and Recorder, El Paso County Public Trustee, Empire Title of Colorado Springs LLC, the Pikes Peak Multiple Listing System. 

Posted in Housing Statistics
Oct. 10, 2019

September 2019 Colorado Springs Housing Stats

2019 YTD vs. 2018 YTD - Empire Title's Summary Page for SEPTEMBER 2019 MLS Stats.
•Average Price  UP  5.0%
•Median Price    UP  5.2%
•Residential Units Sold   DOWN  0.7%
•Inventory Levels UP  4.2.0%
•Number of Listings  DOWN  0.2%
•Average Days on Market: 26
•Interest rates  UP 3.64%

*This information is deemed reliable, but not guaranteed. It is intended to show market trends and should not be used to evaluate individual properties. Sources for this information include but are not limited to: El Paso County Clerk and Recorder, El Paso County Public Trustee, Empire Title of Colorado Springs LLC, the Pikes Peak Multiple Listing System. 

Posted in Housing Statistics
Sept. 10, 2019

Best Home Improvement Project To Increase Your Homes Value

 

It is important to understand that most home improvement projects will not produce a positive return on investment, but many will help you to maximize your overall net profit when selling.

View More
Posted in Home Improvements
Aug. 15, 2019

July 2019 Colorado Springs Housing Statistics

2019 YTD vs. 2018 YTD - Empire Title's Summary Page for JULY 2019 MLS Stats.
•Average Price  UP  4.9%
•Median Price    UP  5.1%
•Residential Units Sold   DOWN  0.6%
•Inventory Levels UP  10.0%
•Number of Listings  UP  4.6%
•Foreclosures  DOWN  3.7%
•Average Days on Market: 23
•Interest rates  UP 3.75%

*This information is deemed reliable, but not guaranteed. It is intended to show market trends and should not be used to evaluate individual properties. Sources for this information include but are not limited to: El Paso County Clerk and Recorder, El Paso County Public Trustee, Empire Title of Colorado Springs LLC, the Pikes Peak Multiple Listing System. 

Posted in Housing Statistics
Aug. 15, 2019

June 2019 Colorado Springs Housing Statistics

2019 YTD vs. 2018 YTD - Empire Title's Summary Page for JUNE 2019 MLS Stats.
•Average Price  UP  4.5%
•Median Price    UP  4.8%
•Residential Units Sold   DOWN  1.6%
•Inventory Levels UP  14.0%
•Number of Listings  UP  7.8%
•Foreclosures  DOWN  4.4%
•Average Days on Market: 24
•Interest rates  UP 3.73%

*This information is deemed reliable, but not guaranteed. It is intended to show market trends and should not be used to evaluate individual properties. Sources for this information include but are not limited to: El Paso County Clerk and Recorder, El Paso County Public Trustee, Empire Title of Colorado Springs LLC, the Pikes Peak Multiple Listing System. 

Posted in Housing Statistics