The healthiest higher-end MLS Area in Colorado Springs was Northgate. Home to Flying Horse. The Farm. New growth in Morningview around Gleneagle. The Northern Reach of Academy D20 recorded four million+ sales in 2016 and saw price grow at 6.5%, precisely the same number as the greater MLS. Many of the signs of strength associated with the under $300K market were also found in a market where the average asking price was well over a half million: a probability of sale almost identical to the MLS average (83.6% compared to the MLS at 85%); very little buyer-negotiating power (homes sold at 99.3% of asking price; the MLS at 99.4%); and very quick days to sell (NGT was 56 days on average; the MLS was only 18 days faster at 38 days). Structurally, Northgate benefits from a wide range of values and a vast assortment of neighborhoods that seem to resonate with what buyers want today. It is also a faster drive from 80921 to the Denver Tech Center than it is from Arvada. These factors show reasons to believe that the successes of 2016 will be repeated and expanded upon in 2017.
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.
A newer construction neighborhood, the home was built in three phases: the first was built after Pine Creek was established, and two Pine Creek builders (Keller and Heartview) built the original homes with Pine Creek elevations in 2004 and 2005. The second wave was a townhome complex built by Canadian builder Ashton Woods. These were the only townhomes built by this builder in Colorado and we are big fans of their high ceilings and high-quality construction. The third wave is going on now, with Vanguard Homes building all of the homes. The majority of their product is presently ranch floor plans, but they do build a few two-stories. A patio home neighborhood is coming in 2017/2018.bison-ridge
“The Horse” has been cooking again for the last several years. Several builders now have an average new-home price tag over $800,000. What’s notable resale-wise in Flying Horse is that there is always a steady market for $500,000 to $675,000 sales, a market that is usually still soft in the rest of the MLS. Because the area is more than 30% new construction sales, the builders post listings for sample product in the MLS that never actually sell, they’re like online ads more than they’re property offerings. The number of homes that never see fruition in the MLS is largest when builders post the listings and that leads to a skewed number on Probability of Sale / Odds. This is an area where we are extremely cautious in our recommendation due to the future (we are still hearing 5-plus years out, still) Powers Boulevard Annex that will slice through the neighborhood. A lot of the present new construction would be impacted by this, and it promotes our interest in the resale homes.flying-horse
Set directly across from the United States Air Force Academy on higher ground to take advantage of the views, Gleneagle is it’s own water district and is not in the city limits of Colorado Springs. It is in the county, and Donala Water provides the drinking and irrigation water plus sanitation to the area. Gleneagle was originally a golf course community. The golf course closed in 2013 and some immediate doom was forecast. But that has been anything but the case. Morningview is a neighborhood within-the-neighborhood and is drawing to a close after a good sales clip the last three years. Additionally, one of the strange realities of real estate is that only 15% of all homeowners that own homes backing to golf courses actually golf. The appeal of golf courses is that buyers like open space. Right now, it’s still open space behind these homes and it’s hard to find anything anywhere else in D20 on 1/3rd of an acre backing to a huge non-developed open space.gelneagle
North Fork was a combined builder project between Classic Homes and Vantage Homes. With very little fanfare and a couple blinks of the eye, half the neighborhood pre-sold in a matter of weeks in 2015. About 20% of the area is large 1-2.5 acre lots on city utilities, an unheard of product in new construction. The remainder line a ridge top within a stone’s throw of Pine Creek High School. Just to the north of Cordera, it’s a bit hard to find in the MLS: While called North Fork at Briargate, RSC MLS for some reason has it zoned into the Northgate NGT MLS area.north-fork
We combined two different, but hard-to-distinguish neighborhoods. Middle Creek has much lower HOA dues than Stone Crossing and no greenbelts or real amenities. It does however have the same two builders that built the first filings of Stone Crossing (Vantage and Acuff; only Acuff is still building in Stone Crossing and on a smattering of lots). Stone Crossing has elaborate HOA amenities, including water features and trails and with it, higher HOA dues. Both areas see a lot of spillage buyer traffic from Flying Horse. Home designs tend to be more traditional with added value for views. One of the best places to find a large home with a walkout basement.stone-crossing
The Farm debuted in 2015 and the first year of closed sales and buyer move-ins began in 2016. The Farm is designed to be a modern prairie lifestyle with village amenities taking on the distressed farm house architecture. Builders are using a variety of elevations in their architecture, with remnants from the cottage tradition, to prairie to farm house to full on modern. Lot sizes are similar to Cordera (around 7000 square feet) and sales have been brisk due to the protected open space.the-farm
One of the least expensive neighborhoods in expensive NGT, Trailridge is one of the original neighborhoods built in the Northgate Master Plan. With street names reminscent of Rocky Mountain National Park, the area is traditionally popular. Homes are usually two story with a few ranch plans thrown in, and quite a few of the streets are circles or cul-de-sacs. One point of discrepancy that influences sales success in the area is proximity to the six lanes of Voyager Parkway. It is considered less appealing to back to Voyager than being removed a single street inland and away from the perceived “noise and traffic.” There’s a lot of growth in this immediate vicinity including several independent restaurants and coffee stores.trail-ridge