By Stephanie Sierra
COLORADO SPRINGS, Colo. - If you're looking to buy a home, the real estate market in Northeast Colorado Springs is on fire. A new report from 'Realtor.com' ranks a Springs' zip code seventh on the list of top housing markets in the U.S.
The - 80922 - zip code consists of homes and businesses between Stetson Hills Blvd. and Constitution Ave. next to Powers Blvd.
For the rankings, Realtor.com analyzed 32,000 zip codes - looking at the amount of time it takes for a property to sell.
The number of houses in 80922 increased by 19.5 percent in the last seven years. The median price for a home in this area is $272,322.
Real Estate Broker, Tiffany Canaday said the average listing in this area is gone within hours.
"The market is hot, it's so hot right now," she said. "The reason being it because of the low inventory."
It comes down to simple economics. There's not as many homes available to supply the demand.
But why is this spot so popular in particular? It's the area with the most variety in pricing.
Even with a single-family home average price of more than $270,000 -- that's still below the city's average of around $300,000.
What will this mean for the real estate game?
"It will eventually level out," said Canaday.
Which means the fear for a 'housing bubble' is realistic.
"It's scary for people, because they might be buying at $275K, but it might only be worth $250K," she said.