It should be noted that Northwest 80919 is our wheel house. Since 2012, we have closed 51 transactions in this zip code. Our office is located here. We were evacuated during the Waldo Fire and personally knew a half dozen people that lost their homes in the event. We live in the zip code, too. So if there’s a tad more detail here, you the reader may just have to excuse (or benefit) from the added familiarity.
Northwest appreciated at pretty much exactly the rate that it ought to given that the average price tag for a home was $85,000 more than the MLS-average. What is striking is that buyers really wanted the area: the time on market was almost the same as the MLS-average (42 days compared to the MLS at 38) and the probability of sale was actually higher than the MLS (89% compared to the MLS at 85%). We will go ahead and risk sounding like the smitten apologists for 80919 that we are (!!), but in general, lesser-quality houses listed in 2016 when compared to 2015; goodness knows, we showed a lot of them. In other words, while the average price was up 5.4%, if one were to compare a 2016 listing that sold for 5.4% more than a 2015 listing, there’s a pretty good chance that the 2015 listing would look a whole lot more interesting and appealing. It is an anecdotal comment, but lets just say that there were an awful lot of homes that we were surprised to see sell, and there were even more homes that we were surprised to see sell for the price that was paid. It was not that the dirt or square footage could not support such a price; it was that the house needed a lot more “stuff” to get to that price. To us, this means that buyers want the area, that the dirt is the special sauce and they’ll make the house work to get the location that they want to be in. That motivation has lasting value.
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.
Peregrine was the original higher-quality Academy D20 neighborhood. Starting in the late 1980’s, the building of the neighborhood ascended Mt. Blodgett. Original construction was suburban in setting with mostly two story homes on smaller lots. This changed as the neighborhood moved uphill and the lots grew larger. Some of the most stately residences in the city line upper Woodmen Road, backing to the Air Force Academy. The average home size in the upper portion of Peregrine is in excess of 4500 square feet, usually with a lot in excess of a half acre. The bottom of the neighborhood hosts the elementary school, Woodmen-Roberts and the top enjoys 167 acres of open space called Blodgett Peak Open Space. From here, access to other trails and even the National Forest can be made.peregrine
Bias Alert: Author lives here and refuses to remove his rose-colored glasses. Pinecliff has always been one of the more unusual neighborhoods in Colorado Springs. It is in the D20 banana belt, where a D20 snow day due to a foot of snow in Black Forest might be a passing rain squall at the lower (6400′) elevation. It also has a voluntary Homeowner’s Association (not mandatory). It is also easy to get to both downtown and open space as it saddles up against Ute Valley Park. The reason some homes take longer than others to sell is usually either floor plan or lack of yard on a lot. There are lots of strangely long driveways in Pinecliff. Unlike Peregrine, a lot of Pinecliff buyers discover Pinecliff and want… Pinecliff.pinecliff
Part of the buyers’ evolutionary shift that we’re seeing is exemplified on a couple of streets in Woodstone. Lower Peregrine has ALWAYS sold better than most of the rest of N/W D20 because… it’s Peregrine. But lately, we’ve noticed homes sitting on the market longer in lower Peregrine and homes prices similar-to-Peregrine. These homes are on Casson, Carlson and Lonergan. The reason: fences and private backyards. The homes in Dairy Ranch are a couple years older than Peregrine and children may not be able to get into Peregrine’s Woodmen-Roberts Elementary, but the flat, fenced yards and the privacy those afford is increasingly valuable.woodstone
Rockrimmon Blvd is a defining feature of Comstock, dividing the bottom quarter of the neighborhood off from the northern “primary” portion. An HOA neighborhood, it is the bread and butter of the Northwest marketplace. Buyers sometimes refer to the area as “the Eagles” (because of the number of Grey Eagle and War Eagle street names), several of the homes have antiquated bi-level, raised ranch, four-level and five-level floor plans. The term “antiquated” is used because they homes can often be boxy and dark in their original configuration. These floor plans are being re-imagined, and the highest values are being awarded to homes that have good updating or remodeling that opens up the interior spaces of these homes.comstock
To the west of Rockrimmon Elementary is the original Rockrimmon HOA neighborhood, Discovery. This area is characterized by semi-custom to custom homes on larger tree-filled lots that are set off the road. When people think of Rockrimmon, they’re probably thinking of Raven Hills or Discovery for this deer-friendly feeling. In this area, homes that are in poor condition or need a lot of work are absolutely punished in their pricing. Each year, a few homes that need significant remodeling projects sell and those usually have a large impact on dragging down the area’s average price. Correspondingly, the neighborhood “average” may not rise very quickly, when in reality individual house values are rising based on the area’s steady popularity.discovery
Golden Hills is a small subdivision with a rigorous homeowner’s association that offers a lot of the “Rockrimmon” feel for a customized price. Lots are highly variable in the area with some commanding views and others that back up to open space affording surprising privacy. A pocket neighborhood, if you have time on your hands to pick out a gentle little area to settle in, it’s one to watch.golden-hills
We are generically packing several small neighborhoods into the name “Oak Hills”. It’s collectively several different neighborhoods north of Foothills Elementary that ascend the three canyons and line the ridge tops. Hunter’s Point, Oak Valley and Oak Hills all compose the area, some with Homeowner’s Associations (Hunter’s Point) some surprisingly without (Oak Hills). Lot sizes are large as are the homes, and those two characteristics distinguish the area from the rest of Rockrimmon. Values are naturally higher for larger homes, but also for lots that offer either/both fantastic privacy or views. There are several lots in here with fairly vertical lots in excess of 1.0 acre.oak-hills
The oldest of the Rockrimmon Neighborhoods, Raven Hills is above Woodmen Valley and “up and behind” Rockrimmon Elementary”. A couple loops of roads and a few cul-de-sacs, most of the neighborhood sits atop a ridge line mesa. Originally constructed starting in 1969 the homes are from an older area, but have a fair amount of improvement in the more recent sales.raven-hills
Northwest District 11 Neighborhoods
The area is still rebounding from the epic 2012 firestorm that forever will be associated with the neighborhood. Most of the 347 burned homes have been replaced, but there are still acres of charred hillside. It has also changed the complexion of the neighborhood with new construction homes now enjoying most of the premium prices in the area. Mountain Shadows is an unusual foothills neighborhood because for the most part, there is no Homeowner’s Association… but the area sure looks like there is one. There is an overlay architectural control, and that has served the area well, keeping values strong, home’s appealing from the curb and keeping the overall cost of ownership, low.mountain-shadows
Oak Valley Ranch
At the top of Centennial Blvd. just before it goes over the ridge and becomes D20 and Woodmen Road on the other side is a neighborhood of small lots and mostly two-story homes. The area for years was referred to as “by the mine” the large Transmit Mix gravel quarry mine that begged the question “why was that built so close to the houses?” (the answer: it wasn’t. The first houses were built 80 years after the quarry opened). But that same blemish was quite the benefit in the 2012 Waldo Fire as it helped to choke the northerly advance of the fire and pushed it back on itself, shielding over 1000 homes from the fire’s advance. In the time since, the area has seen a staggering popularity. With homes typically around the median price tag for the city, it offers an economical entry point to the west side. Plus, there’s Josh and John’s Ice Cream at the bottom of the hill. Simple pleasures.oak-valley-ranch
Pinon Valley Ranch
Consistently one of the best selling areas in the city, Pinon Valley enjoys a destination park that shares the same name and the western entrance to Ute Valley Park. The idea of living simply in a nice, updated home blocks from Ute Valley Park and a quick bike ride to two breweries and/or Garden of the Gods is pretty appealing to a large percentage of the present buying demographic. Home lots sizes tend to be larger than those in Oak Valley Ranch, but the homes generally are older and the floor plans more likely to be bi-level or tri-level.pinon-valley