The Southwest Part of Colorado Springs is divided into two school district areas, Cheyenne Mountain District 12 on the west and Harrison District 2 on the east.
We divided the Harrison D2 area into three different large neighborhoods, Cheyenne Hills / MJ Brock, Cheyenne Meadows, and Stratmoor.
Cheyenne Hills roughly encompasses the area north of Cheyenne Meadows Blvd and around Quail Lake.
Cheyenne Meadows is largely newer construction, and encompasses the area between Nevada Ave. and Stratmoor, south of Cheyenne Meadows Blvd.
Stratmoor is within the S/W MLS area, but is mostly county land, not City of Colorado Springs.
One of the major differences that we found between the two large neighborhoods, Cheyenne Hills and Cheyenne Meadows, is that the price elasticity was more prominent in Cheyenne Hills, and values were more predictable in Cheyenne Meadows. Stratmoor had a good first six months of the year, but as the year progressed, rate of sale slowed in 2012.
Some MLS Marketwide baselines… Probability of sale last year for the entire MLS was 63.8%. That was the highest probability since 2005. These graphs sometimes reflect mostly lower numbers, but that is because the software counts under contract properties as still “active”. In essence, these are contracts, and in certain cases, we notated what happens to months of inventory and probability of sale if you “count the contracts” that are there at the start of the year. Saying that, for the most part, Northgate inventories are low carrying over into 2013, but there are not a lot of under contracts in these neighorhoods outside of Flying Horse.
If you would like any of these slides emailed to you for specific information, hit me up at Benjamin@BenjaminDay.com. Yes, we realize that they read a little small, but we’re preciously attached to our WordPress format, so, sorry.
The software used to create these graphs is from http://www.Focus1st.com and we used a date range of January 1, 2012 to January 11/14, 2013 for all of the searches, doing as many as possible on two different business days to get a competitive comparison for a single snapshot in time.
Disclaimer time: Benjamin Day composed this blog post and is solely responsible for it’s content. This information reflects data and opinion of real estate licensee in The State of Colorado. Based on information from the Pikes Peak REALTOR Services Corp. (“RSC”), for the period January 1, 2012 through January 14, 2013 . RSC does not guarantee or is in any way responsible for its accuracy. Data maintained by RSC may not reflect all real estate activity in the market.