The Colorado Springs Real Estate market is always changing, and each Colorado Springs neighborhood changes in a different way.
This is a comprehensive update on how average home sale prices in Colorado Springs compare, from the month of April in 2005 - 2008. I only am comparing April sold data from year to year. The areas that I chose to compare were large parts of Colorado Springs with similar homes within the area and plenty of real estate activity from 2005-2008.
Black Forest Colorado Springs Real Estate Market
- 2005: $296,324
- 2006: $343,178
- 2007: $324,232
- 2008: $415,499
Although there was a decrease of -6% from 2006-2007, the Black Forest real estate market saw an average sale price INCREASE from 2005-2008 of +40%. That is an average of 13% increase a year!
Briargate Colorado Springs Real Estate Market
- 2005: $259,678
- 2006: $278,698
- 2007: $318,739
- 2008: $294,111
The Briargate real estate market saw an average INCREASE in average sales price from 2005 - 2008 of +13%, or about 4.3% a year. However, comparing April of 2007 and April 2008, there was a DECREASE in average sales price of -8%.
Northeast Colorado Springs Real Estate Market
- 2005: $203,895
- 2006: $258,077
- 2007: $214,145
- 2008: $226,823
The Northeast Colorado Springs Real Estate market (to include Garden Ranch, Wagon Trails and Sundown neighborhoods) saw an average INCREASE of +11% since 2005, or about 3.6% a year. However, this includes the DECREASE in average sales prices in this area from 2006-2007 of -17%.
Northgate Colorado Springs Real Estate Market
- 2005: $336,643
- 2006: $398,067
- 2007: $429,998
- 2008: $300,765
The Northgate Colorado Springs Real Estate market (to include Gleneagle, Northgate Highlands, Flying Horse and the Trail Ridge neighborhoods) saw a steady increase in April sale prices from 2005-2007 of about 28%, but overall there was a DECREASE in average sold prices comparing April 2005 - April 2007 of -11%, which was evident in the sharp DECREASE from 2007 to 2008 of -30%. Ouch.
Powers Area Colorado Springs Market
- 2005: $198,592
- 2006: $232,663
- 2007: $199,533
- 2008: $209,847
The Powers Area Colorado Springs Real Estate market (to include Greenhaven, Stetson Hills and Springs Ranch) has been all over the board when it comes to average sales prices in April. There was a large INCREASE in sales price from 2005 - 2006 of +17%, a DECREASE from 2006-2007 of +14%, and a 5% INCREASE from 2007-2008. Overall, the Powers area saw a +6% INCREASE (2% a year) in April sales prices from 2005-2008.
These are average numbers and do not account for variables within each area. Some smaller Colorado Springs neighborhoods within the above mentioned neighborhoods. Some sub areas have experienced both higher and lower sales averages from 2005 - 2007. But these numbers will still give you a good idea of what house prices are doing in 5 major Colorado Springs neighborhoods.
Posted By: Mariana Wagner - Colorado Springs Real Estate Agent - Wagner iTeam
The Wagner iTeam is a power team of Keller Williams Clients' Choice Realty,
specializing in Colorado Springs Real Estate and Monument Real Estate.
Post a comment
Temporarily disabled — coming soon!
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2008 ActiveRain Corp. All Rights Reserved
Hi Bob - Thank you for your comment. I did not comment on the change from 2007-2008, just from 2005-2008 and from 2006-2007, so you are probably right about the 28%. Regarding Black Forest, all data was pulled directly from our local MLS. Black Forest has ALWAYS had a great appreciation, compared to other parts of Colorado Springs. Yes, there are high end homes there, but most homes in Black Forest are "high end".
These stats are not misleading, and not every area of every city is experiencing a real estate slump. I believe that it is disingenuous to scare the public into thinking that the whole nation is experiencing the exact same issues. Real Estate is super-local and some areas ARE still doing well.
Median Sale Price in Balck Forest for April 2008: $404,750