In a nutshell, Briargate is classic Colorado Springs. The MLS area just returned it’s first-ever year above 1000 units closed in a single year (109 more than in previous-record 2015) and sales price grew at a very healthy 9% with practically no negotiating happening (sales price to list price at 99.5%). The average time it took a property to sell was almost identical to the MLS average of 38 days, yet the average sales price was $68,000 higher. What will be interesting in 2017 is if the units will continue to grow. The disconnect between the average asking price at year’s beginning ($465,000) and the average of what sold in 2016 (a $100,000 less) is pretty sizable. There’s no doubt that homes under $300,000 will sell fast in 2017, but the bigger question is, will the higher value sales increase in terms of units? Will buyers continue to demand 1000 units a year , because it seems unlikely that the lower-priced homes can possibly keep up the listing momentum to sell that many. If more of the more expensive, existing inventory sells in 2017, that probably will means that average price will grow at a similar or faster rate than it did in 2016.
Standard Disclaimer: The Where to Buy Project is an Annual Creation of WelcomeWest.com for Selley Group Real Estate. It uses data extracted from the Pikes Peak RSC Multiple Listing system for the previous calendar year and compares it to the prior calendar year. For the 2017 report, the effective data range is January 1, 2015 to December 31, 2016. The information is then visualized and comprehended using Focus1st.com Pricing Software. Information is deemed reliable, but not guaranteed.
How to Use The Where to Buy Project: For a resource guide on how to better comprehend the Focus1st Graphs, please refer to the Where to Buy Project Source Video . In all cases, Days on Market is measured differently in Focus1st than in the RSC MLS: It is the length of time between initial list date and day of close. The RSC MLS measures this date in marketing days, the number of days between initial listing and the day of contract. To standardize measurement, subtract 40 days from the Focus1st measure to provide an approximate equivalent to the same measurement in RSC MLS.
Characteristics of this area are homes of two different sizes: those above 3000 square feet and those below 3000 square feet. In both cases, improvements like granite kitchens, updated bathrooms and hardwood flooring pay larger dividends for sellers.charleston-place
A new-construction neighborhood, Cordera’s consistent rise in value has been notable compared to the rest of Briargate. It has become one of the more expensive average-sales-price neighborhoods in Colorado Springs. Although all homes are built since 2006, price does not move relative to square footage (called “high price-elasticity). Homes with elevated value have larger yards, back to open spaces and have nine-foot ceilings on all levels (including the basement), and in the over $500,000 category, truly custom kitchens and baths. Contemporary-Modern Construction is beginning to appear. Current builders include Saddletree, Keller, Vantage and Campbell.cordera
Generally one of the more affordable neighborhoods in District 20, Fairfax homes were built between 1985 and 2000 from over a dozen builders with a variety of styles and sizes. Prices vary considerably relative to square footage. Below-average condition homes sell at a fairly predictable value, while above-average condition homes vary wildly in price.fairfax
Built at the same time as Fairfax, Gatehouse stretches from east to west north of Research Blvd, but covers a larger spectrum in price. Many of the homes in Gatehouse have fairly regular sized lots and most homes are two-story floor plans. On the far east side of the neighborhood (closer to Liberty High School) are larger homes, homes on larger lots, homes backing to open space and some ranch plans.gatehouse
Pricing in Meadow Ridge increasingly shows little regard for a home’s square footage, as it is more often determined by improvements, age of home, usability of floor plan, and lot. With homes built over a 10-year time period, 1990s built homes sell for higher prices than 1980s homes, and a more conventional two-story floor plan will sell at prices that front-to-back tri-levels or bi-levels cannot command.meadow-ridge
A notable neighborhood because of its proximity and easy access to I-25. Pine Creek has had a considerable amount of competition since it broke ground as the first well-executed, suburban master-planned community in Northern Colorado Springs. The homes are usually shinier and newer in Flying Horse, Cordera, Wolf Ranch or The Farm. But Pine Creek still has a lot going for it with a lot of homes on the golf course, a lot of open space, a lot of backyard privacy and that location with access to so much of northern Colorado Springs. Major remodels are beginning and homes with fully updated kitchens, or remodels that “cured” some of the circa-2000 floor plan experimenting will command a much higher dollar.pine-creek
Summerfield is a wonderful microcosm of all things D20 and suburban in Colorado Springs. An improved home in Summerfield, south of Pine Creek with big lots and super convenient to the rest of the city, has a huge advantage in this market. But a home that is not improved, will sell at a notable (20% or more) dollar per square foot deficit as buyers are apt to judge it antiquated. That said, some of the best dollar per square foot prices in the citysummerfield
One of the oldest neighborhoods in Briargate, this 20-30 year old area is above Chapel Hills Mall. Most of the area was built in the mid-1980’s with homes smaller than present new construction but on larger lots. Views can be superb. With close proximity to IB High School at Rampart High School and open space areas combined with cul-de-sac locations, Wedgewood is in a bit of a renaissance due to a primo locationwedgewood
When Wolf Ranch was first launch, pricing was fairly predictable based on square footage. It is notable that today’s Wolf Ranch sees similarly-sized homes that can sell $100,000 apart in. Wolf Ranch’s average price is now right at $400,000 and sees the most units sold each year in 80920, making it the most popular neighborhood in Briargate.wolf-ranch