Central continues to cruise. While the average sales price has not “popped”, a historically disproportionate number of buyers will claim to want downtown, and then end up on downtown’s periphery. The city’s positive movement of growth in the downtown core will ultimately raise all boats around the city and it’s the continued appeal of walkability, character, trees, architecture and old-fashioned bike-friendliness that has the CEN MLS area moving forward.
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.
Bonnyville marches to it’s own drummer. Every year there is a 300% difference between the low dollar per square foot paid and the high dollar per square foot paid. It’s not uncommon to see a 1000 square foot, one-bath house sell with multiple offers for $250,000, which seems outrageous compared to so many other areas. Don’t read that statement of “outrageous” as a critique of the neighborhood. This neighborhood sold well during the Recession and since it has the North End to the southwest and Patty Jewett to the east, it’s sandwiched between two more expensive, always desirable neighborhoods. Most of the area is walk/bikeable, is anchored by the park and the Bon Shopping Center, and locals enjoy hang outs like the old gas station turned coffee shop Stir, Lincoln School, The Rock Island Trail (MTB route to Palmer Park) and (in-season) The Tasty Freeze on Weber.bonnyville-odds
We define “Downtown” as the near-commercial portion of downtown from I-25 east to Union, northerly boundaried by St. Vrain, and on the south by Memorial Park. This boutique area embodies the antique home market with the average age of homes in this area usually around 100-years old. While there are averages, this is a neighborhood where the story is told on the fringes. Buyers overwhelmingly buy the top-condition homes, and the average price is dragged down by homes that not only need a lot of work, they’re ancient by local standards and may have thousands of dollars in “surprises” when being fixed up (one of our least favorites is knob and tube electric connected to Romex. A once-prominent, now defunct electrical contractor got away with that for years). A home that has remodeling with a modern kitchen, new mechanicals, new electric, modern plumbing, good curb appeal and a lovely yard can probably count on serious interest.downtown-odds
East End / Shooks Run
On the other side of St. Vrain to the north of the “Downtown” market is a neighborhood that goes by a number of names. We’re using the legal describers which almost no one uses, instead referencing the parochial landmark “Divine Redeemer” School to give the entire neighborhood it’s name. Homes in this area are built 1890 to 1960 with a couple new construction infills scattered about. Comparable Sales are frequently used from areas to the south of here closer to Platte and Boulder, and the quieter streets of Divine Redeemer usually require a $10,000 to $15,000 positive value adjustment. Yards tend to be a bigger draw in this area as it is more removed from traffic patterns. Highly walkable and bike-able to downtown this area has been on the rise for a decade and that is gaining momentum with 50/50 Coffee and the return of the Willamette Market and Deli. Want backyard-fresh eggs but don’t want to raise chickens? They gotcha covered.east-end-odds
The Queen Bee of antique charm and a neighborhood of cultural and civic pride, the North End enjoys national standing as a historic, architecturally-significant neighborhood. Once the home of mining barons and the early wealth of Colorado Springs, today it’s a leader in civic voice, as evidenced in their work with the city to safety-size Cascade, Weber and Wahsatch to make them more bike and pedestrian-friendly. The price of remodeling an older, historic home is significantly more than a home 20 to 40 years old due to unknown treasures inside the walls and the preservation of historic elements like moldings and woodwork. Owning an older home is a lifestyle as much as it’s a blessing and requires something of the individual homeowner; but we are bullish on the North End for buyers because the amazing proximity and value relative to other historic markets throughout the west (Denver, Boulder, Ft. Collins, Durango) is quite low. Situated between my alma mater, Colorado College and Penrose Main with the fantastic Monument Valley Park along the western flank.north-end-odds
Patty Jewett is one of the most frequently-requested neighborhoods for our buyers. Sometimes it’s aspirational (“I know I can’t afford it, but I just love Patty Jewett”) sometimes it’s just curiosity (“my colleagues say I’d like Patty Jewett”). It’s a bit like Denver’s Washington Park, just with smaller homes, a smaller footprint and half the price. While it lacks the historic recognition of the Old North End to the west, it is also an architectural treasure as the examples of the prairie bungalow can be seen up and down El Paso, Royer and Corona. It’s famous for it’s walking routes, such as “up Franklin through the tree-canopy and down Prospect to watch the duffers at the course”. There is no such thing as a legally-described Patty Jewett (who was that mouthful, “Augustus C Hahns Parklawn” that’s on all the legal descriptions?) but there is the 3rd-oldest golf course west of the Mississippi, famous for it’s views and weekend brunches.patty-jewett