Colorado Springs is in a unique position in the real estate world. The Colorado Real Estate Market is anchored by the presence of a number of military personnel and the United States Air Force Academy, adding a stabilizing dynamic to an already well-positioned and popular community. Yahoo Real Estate recently ranked Colorado Springs real estate as the seventh most stable real estate market in the United States of America, a ranking largely attributable to the predominance of scenic beauty and positive attributes in the city. Colorado Springs is considered the best big city to live in by CNN Money, one of the top cities of the future by Forbes Magazine, and one of the top five fitness places to live by Fitness Magazine. Colorado Springs is also ranked as one of the most tech business-friendly cities, one of the top cities for small business, and one of the best places to live and work by America's Best Places to Live and Work.
The Pikes Peak Realtor Services Corporation has reported that the Colorado Springs Real Estate Market decreased in a number of key indicators between 2008 and 2009, although this may be largely attributable to the fact that Colorado Springs was not hit especially hard by the recession to begin with. For example, sales decreased by one percent, houses on the market decreased by more than twenty percent, and average sale price also declined. On the other hand, houses spent less time on the market and more houses were being sold. Professionals in the Colorado Springs area do not seem to be overly concerned with the fluctuations in the Colorado Springs real estate market, with Realtor Jason Daniels stating that “There has never been a better time to move up. The softening of the market has created a number of opportunities for the astute buyer.”
Realtor Rick Van Wieren goes a step further, theorizing that “With interest rates close to 5%, and the major expansion at Fort Carson, we are beginning to get positioned for recovery.” Interest rates in the Colorado Springs area remain securely below the six percent level, meaning that Colorado Springs Real Estate remains a buyers market despite something resembling a slow down.
This Colorado Springs market update was provided by Good Life Homes and their team.