Colorado Springs Real Estate Market

The Colorado Springs real estate market is experiencing difficult times as is the rest of the country, but appears to be stabilizing due to the recent influx of military troops to the town. Local companies have issued reports of new jobs over the next few years. There has never been a better time to move up into the home of your dreams because interest rates are still at record lows and homes can be found at a bargain.

According to RealtyTimes.com, Colorado Springs in El Paso County shows the following statistics from the Pikes Peak Association of REALTORS:

- Listings Sold: 490 (January - 480)

- Median Sale Price: $200,000 (January - $200,000)

- Average Sale Price: $231,121 (January - $236,939)

- Average days on market: 97 (January - 98)

- Total Active Listings: 4,675 (January - 4,528)

- Median List Price: $250,000 (January - $247,898)

- Average List Price: $346,047 (January - $338,604)

The Colorado Springs housing market was significantly slower in 2007 than in prior years and property inventory was up by roughly 25%. New construction starts have slowed and it's considered to be a buyer's market. Spring 2008 brings 5,571 single family homes on the market in the Pikes Peak region. Additionally there are approximately 1000 condos for sale in the area. Nice resell homes on the market are taking an average of three-to-six months or longer, to sell.

New home sales have dropped in Colorado Springs, CO and home prices are decreasing as the market continues to slow. It's a great time to find good deals on properties in El Paso County. There are many foreclosure homes on the market.

The US military influx that was expected into the city has not taken place due to war related changes. There are still troops coming into the area looking for Colorado Springs real estate, but reports state that the bulk of these transfers won't occur until 2009.

Colorado Springs Zip Codes

COLORADO SPRINGS ZIP Codes: 80920, 80917, 80918, 80919, 80907, 80916, 80106, 80831, 80908, 80921, 80951, 80915, 80909, 80929, 80925, 80911, 80913, 80906, 80910, 80903, 80904, 80829, 80905, 80913, 80817, 80133, 80863, 80814, 80819, 80924

Location Characteristics: Colorado Springs is east of the Rocky Mountains, at the foot of majestic Pikes Peak.

It is Colorado's second largest city. It boasts moderate temperatures throughout the year because it is protected by the Rocky Mountains to the west and Monument Divide to the north.

Colorado Springs is proud to be the home of the U.S. Air Force Academy, Fort Carson, Peterson Air Force Base, and NORAD.

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Occupancy of apartments in Colorado tightened in the fourth quarter, and rents generally increased, according to a survey released Tuesday by the Colorado Division of Housing. Colorado Springs' apartment market was affected late last year by the fluctuation in military residents because of the Iraq war, as it has been the last few years.

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For your apartment rental or relocation needs in the area, go to Colorado Springs Homes.

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On Tuesday, the Vail Town Council abruptly ended talks with a Texas developer who had a $107 million plan to redevelop the aging employee-housing complex.

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Jay Gupta's livelihood is local real estate, but much of his life also has been spent helping business professionals from around the globe to connect with each other.

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A real estate market lull in Colorado Springs means buy-and-hold investments make sense for investors who can buy low and wait out the cycle, but a variety of other opportunities exist as well.

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Is your space ready for an urban face lift? Some stores you can visit for ideas are Room & Board, Design Within Reach, West Elm, Roche-Bobois, Crate & Barrel, Palazzetti and Restoration Hardware. There are two principles to keep in mind when you're planning your space: It's all about you. Don't be afraid to mix it up.

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New-home Construction Down, Foreclosures Up in the Region

Colorado Springs new home construction sputtered again last month, while the pace of local foreclosures showed no signs of slowing.

Single-family building permits in the Springs and surrounding El Paso County totaled 102 in February, down 43 percent from the same month a year ago, according to a Pikes Peak Regional Building Department report.

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