The Colorado Springs Real Estate Market is starting to see some marked improvements since last year. Homes are selling more quickly, and for more money than the beginning of last year. Even though the housing market is improving, we are still firmly entrenched in a buyers market. A buyers market means more available homes and less qualified buyers.
This means one thing… qualified buyers should BUY! It’s a buyers market for pete’s sake. The name says it all. Often times buyers get scared away because of in-stability and the fear of dropping home prices. But they need not worry, it’s like a great sale… the prices may not be the lowest they will ever be, but they are still pretty darn good. In the Colorado Springs region the $400,000- 500,000 price range (a common “up-sizing” price range) is experiencing a bevy of outstanding deals. This should be taken advantage of anyone thinking of purchasing in that price range, or anyone considering up-sizing. Because the potential savings in this neighborhood are so much greater than the loss a home seller would take in a neighborhood (like Briargate or Powers for example), although they may take a $20,000 loss on the home they are selling, they could save upwards of $60,000 on the new home they are purchasing. If you have any questions or would like more information about your SPECIFIC market area, please contact me at (719) 271-8888.