Colorado Springs is a different market than Denver.   While Denver is trying to keep up with investors and first time buyers snapping up homes under $250,000, Colorado Springs is not seeing the same thing happening. Inman News says that while the Denver Market is hot, Colorado Springs is at least warm showing a rise in home prices of 3.71 percent, year over year.

  "The military-dependent economy of the Colorado Springs area makes a more stable market." states an Inman News article. Fifty percent of homebuyers are related to the military or the Department of Defense. There are very few first time buyers who would be buying the less expensive homes, unless it would be a military buyer using their Veteran Affairs loan.

Colorado Springs is seeing medium priced homes around $285,000, and up, going fastest. Homes over $600,000 are the selling the slowest in the area and the luxury home market in Colorado Springs is sitting without much movement.  Distressed properties are down 20 percent from last year.

Read the full article at Inman News.

Posted in Real Estate Market Conditions

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