Mariana Wagner

Colorado Springs Real Estate Market UPDATE: Comparing Average April Home Sale Prices 2005 – 2008

I recently wrote a post where I commented that the Colorado Springs Real Estate market home prices were closer to the mark of 2005’s home prices. After further research, I have found that the information sources that I was basing that off of were unreliable, so I removed that post as not to create any confusion, and apologize for any confusion it may have already created.

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.

May 2nd, 2008 by Mariana Wagner | Leave A Comment

This entry was posted on Friday, May 2nd, 2008 at 5:24 pm and is filed under BUYERS, Colorado Springs Homes, Colorado Springs Neighborhoods, Colorado Springs Real Estate, SELLERS. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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