Looking across the board at all the metrics, locally Northeast probably had the very best year of any MLS area. The percent change in price was the 4th best; the probability of sale was 6th best; the sales price to list price price differential was 4th best; and the days on market was the 2nd best. It may not have been number one at anything, but it was awful good at everything. With 96 units a month selling and only 54 total units for sale in the entire MLS area to start the year, the fundamentals are in place for continued growth. But just as we extended caution to the buyer in Southeast Colorado Springs, we extend the same concern here: if you are an interest rate dependent-buyer, someone that needs cheap money to make your purchase happen due to a low-downpayment, a sudden change in interest rates could adversely impact your ability to buy. Northeast has not strung together successive outstanding years like Southeast has, but a buyer about to pay the most for any house in a particular neighborhood might want to make certain that the house is really worth that price.
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.
Cottonwood Park / Greenbriar
Cottonwood Park is a rare asset: a huge park with a 5K running loop and endless soccer and football possibilities on the weekend, it’s an affordable magnet for outdoor lifestyle. As an added bonus, there’s the Cottonwood Rec Center with indoor pool and workout facilities. Year after year the probability of home sales in this neighborhood is always high. As there are no silver bullets in real estate, this is a great example of such thinking: there’s that big park, and the homes are well-sized, plus they tend to trail slightly the City’s Average Sales Price.cottonwood
Erindale and Pulpit Rock occupy different sides of the same ridge that is shown in our Featured Image above. The Pulpit Rock Open Space is a great introduction to hiking at elevation, and the 4.4 miles of trails are a good starting point for those that have never summited a 14’er and have a long path of endurance to get ready for their first journey to 14,000. Values in this area have risen faster than surrounding neighborhoods since the construction of nearby University Village, further assisted by the Dublin bypass that becomes Nevada Ave. With a Sprouts on one side, and a Trader Joe’s down the hill, there’s a lot more to anchor the neighborhood than the bottom of The Recession.erindale
This area is hard to characterize by the numbers because it has three radically different “feels”. There’s a stretch near Academy that is like an older Vista Grande; there’s the older stretch down Flintridge where it dead ends that provides “secret” access to Palmer Park underneath Austin Bluffs that’s a bit like Highland Park; and then there are the view lots along the ridge where all rules on pricing get thrown out. Garden Ranch has increased in popularity year after year. The proximity to UCCS will serve it well for years to come, but so does that secret access to Palmer Park and the staggering views from the upper reaches. With very little through traffic – despite being boundaries by Academy, Austin Bluffs and Union – this is always an area to watch.
Sometimes a good value is all in your perspective. Here, that perspective is one of the highest points in the city, looking back both east and west, and with a surrounding open space that sees frequent mule deer, bunnies and the occasional fox and bobcat. Sunset Ridge has a stretch that is really upper Vista Grande ascending Flintridge where the homes and lots suddenly “double” in size and cul-de-sac location become the norm. Stretching down Saddle Rock, a pocket of large mid-80’s to mid 90’s homes embrace the westerly views and sunsets. The neighborhood is capped by a neighborhood pool and tennis court.sunset-ridge
University Park has struggled mightily in the resale market for close to a decade, but is now getting some bearing. A sequel to Sunset Ridge, the planned neighborhood is anchored by a private open space on the western boundary. The large number of quickly built semi-custom tract homes created a blend of values that made the truly extraordinary lots on the open space cliff’s edge harder to define as being exceptionally valuable. Those values are becoming more and more apparent. The distinctive location, so near the very center of town, combined with some exceptional privacy and views makes for a unique setting above the University of Colorado, Colorado Springsuniversity-park
Another one of the largest neighborhoods in the city, Vista Grande is hard to break down into different parts. Traditional two-story homes are rare and many of the ranchers have completely below grade basements (meaning that walk-out basements are rare). Bi-levels, tri-levels and four-levels are the most common floor plans, originally designed to give a buyer a proper number of rooms and square footage. That appeal is still there and the area is beginning to see some major remodeling taking place. Those who buy well and undertake their projects with efficiency can see 100% on the dollar or better return for improvements like new kitchens, hardwood flooring and stucco & stone exteriors. Additionally, a great deal of value can be added by thoughtfully landscaping, with low-impact xeriscaping amidst the native pines.vista-grande
Wagon Trails is one the most reliably popular neighborhood in Colorado Springs. The neighborhood was built quickly due to it’s popularity when constructed and has rarely had resale problems. A winding open space provides a long jogging and walking path as well as the possibility of anchoring the home values with a series of “cut-above” homes built along Prairie Wind. The annual HOA due includes a pool and trash removal.wagon-trails