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Colorado Springs: Hottest Market In Colorado

May 15, 2016 by Sylvia Jennings

The Springs is suddenly the real estate market to watch, moving in one month from 18th to 12th on REALTOR.com’s Hottest U.S. Real Estate markets. Sales are up 19% so far this year. Compare that to Denver, where sales are up by 2%. Homes are on the market an average of 32 days. That’s a mega- drop from 82 days last April. In areas where homes are more affordable, like the east side of town, the average is about 2 weeks.

There are 3 basic reasons for the torrid pace: pent-up demand, low mortgage rates, and strong economic conditions. Inventory is shrinking, so prices continue to rise. We have a 2.5 month supply of available homes right now. A more balanced market would be a 6 month supply. The average home in Fountain is selling for $22,000 more right now, compared to last April. Sellers in Stetson Hills are getting $18,000 more. In Monument, the average price of a home was $484,000 last month, compared to $405,000 last year.

Real estate experts, us included, think this is only the beginning. Higher paying jobs are being created, our population is growing, and so is the number of first time home buyers.

Based on information from the Pikes Peak REALTOR® Services Corp. (“RSC)

Find A Home On Facebook

May 12, 2016 by Sylvia Jennings

If Facebook is your go-to place for information, then start your next home search on our Facebook page. Visit Facebook.com/peakdreamDowntown to see every home on the market and our fab Featured Listings. Even if you’re not moving, it’s always fun to look, right?

Facebook is just one of the social media tools we use to market our listings. You’ll also find PeakDream listings on Twitter, LinkedIn, Pinterest, and Instagram!

The Record-Breaking 2016 Colorado Springs Real Estate Market

March 29, 2016 by Sylvia Jennings

Colorado Springs Real Estate Market

If the torrid pace of local home sales continues, 2016 will blast through all previous records for Colorado Springs home sales. For 5 consecutive months, home sales and prices have hit all-time records. The winter lull…well it never happened. December felt like June with over 1,100 homes sold, and the total for the first 3 months of 2016 of nearly 2,900 sales is an all time record. Real estate experts, like us, think we’re on track for more of the same. There are a lot of reasons, including a much-improved local economy providing thousands of higher paying jobs, our growing population, silly-low mortgage interest rates, and a growing group of young home buyers entering the home market for the first time.

What is it like to be a seller in 2016? Well, the timing has never been better. And while the task may seem easier than ever, it’s never been more important to have a skilled real estate professional at your side to keep a steady hand on the transaction. The feeding frenzy in certain price ranges can create a mind-numbing variety of multiple offer scenarios. Is the highest offer the best one? Not if the buyer gets cold feet and quits the deal at the last minute. It’s a challenge for even the most experienced agents to negotiate, not only the highest possible price in today’s market, but also a deal that will get to closing – without any legal nightmares after the fact.

What’s it like to be a Pikes Peak area home buyer in 2016? It can be an all-consuming and stressful process to find the right property in the right price range, and be the successful bidder when there are competing offers. A skilled buyer’s agent has the tools to help buyers win, keep a cool head, and be smart about their biggest financial investment.

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