It’s somewhat predictable that the market’s recent resurgence would be expressed in places like Briargate and the Northwest with desirable qualities, but generally, average sales prices within $75,000 to $100,000 of average. These are the areas someone familiar with Colorado Springs would expect to see a resurgence.
But what about the hire reaches of the market? We saw signs of growth happening in Southwest (S/W) Cheyenne Mountain District 12, and are seeing similar growth in Tri-Lakes/Monument.
We will start with the big kahuna of the North, Woodmoor. Because the mapping software can only digest so much data at once, and has to look at the entire history of the area because of some MLS idiosyncrasies, we had to break apart Woodmoor into three different sections, North, Central and South:
North Woodmoor including High Pines and Greenland Forest, generally north of the Country Club, south of County Line, east to Furrow, one of the newer stretches by average year of build (definitely true in High Pines and Greenland Forest)
Central Woodmoor, from Woodmoor Drive south to Highway 105, and east across Furrow to the border with King’s Deer.
Going west of the interstate to Palmer Lake, we found a market that was (as usual in Palmer Lake) harder to define:
One of the very best selling places in the region last year was in Jackson Creek. The doldrums that had plagued the area over the last couple of years loosened substantially.
The higher end is very well-represented in Tri-Lakes, and we looked at King’s Deer, Fox Run, Bent Tree / Higby Estates. The truly high-end neighborhood of High Forest Ranch was excluded from this search so as to showcase it in a later survey that places it with the other luxurious high-end neighborhoods in Black Forest and NGT, like Cathedral Pines and the Abert/New Breed/Bridle Bit stretch along Shoup.
Bent Tree / Higby Estates
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.