Colorado Springs: A Seller's Market For Sure

sellers-market

It's definitely a seller's market right now. Properties often receive multiple offers. Bidding wars are the norm, where the highest and best offer gets the house. Days on market have dwindled down so much that many homes sell the first day they are on market. 

I am working with a family right now who is super excited that we got their current home under contract so fast, and it went for above asking price. Yay!

But now the flip side of that is we are pressed to find another home for them to buy.  There isn't much inventory out there right now, and the good stuff is selling super fast. 

For example, this week we looked at a home which had just hit the market earlier that morning. We arrived mid afternoon to see it. While there, we ran into two other buyers who were seeing it. We were going to write an offer on it, but I learned from the seller's agent that he already had two offers on the table, both of which were thousands above asking price.  And he was expecting more by end of the day. 

My buyers were disappointed. They learned that in order to even be considered they would have to bid thousands over asking price and even with that, there were no guarantees their offer would be accepted.  It's tough out there. An appraiser recently told me that in Denver they are getting offers sight unseen, meaning buyers are not even going in the houses before writing an offer. Yes, the Colorado real estate market is that crazy right now.

Here are the latest Colorado Springs housing statistics, as of end of March:

INVENTORY OF SINGLE FAMILY HOMES FOR SALE...down 25% from last year

INVENTORY OF TOWNHOMES/CONDOS FOR SALE...down 2% from last year

AVERAGE SALES PRICE OF A SINGLE FAMILY HOME...up 11.5% from last year

AVERAGE SALES PRICE OF A TOWNHOME/CONDO...up 12.1% from last year

To summarize, homes are in demand and there is less inventory for sale right now.  Supply is down which is driving prices up.  It's a great time to be a seller.  It's a tough time to be a buyer.  At times like this, you really need a good Realtor in your corner! Give me a call, I would be happy to answer any questions you have.

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Things to Do This Weekend (Apr 22-Apr 23) in Colorado Springs

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Colorado Springs Things to Do

Great American Cleanup -  Sat Apr 22, 9:00am - 12:00pm, Bear Creek Nature Center 245 Bear Creek Road

Admission: Free, Registration required. Help clean up our parks, trails, creeks, and roadways this Earth Day. For more info, visit: Eventbrite

Colorado Springs Things to Do

Star Light-Star Bright Observatory Public Viewing Night, Sat Apr 22, 8:00pm - 9:45pm, Star Light-Star Bright Observatory 2015 Wickes Road

Admission: Free. If the night is clear, come view celestial objects from the observatory. For more information: NSSTI.

 

Colorado Springs Things to Do

UCCS Music Program Presents: University Choir - 'A Disney Extravaganza', Sat Apr 22, 7:30pm, UCCS - Centennial Hall 1420 Austin Bluffs Parkway

Admission: Free. The University Choir will be performing favorites from "The Lion King," "The Little Mermaid," and more. For more information: UCCS.

 

Colorado Springs Things to Do

Kids Ninja Warrior Competition, Sun Apr 23, 4:00pm - 7:00pm, Springs Trampoline Park 2512 Airport Road

Admission: $35. Kids can be ninjas for an evening competing against their peers for prizes. Registration includes practice run and competition run. For more information: Springs Trampoline park.

 

Colorado Springs Things to Do

Housing & Building Association Home Show, Sun Apr 23, 11:00am - 4:00pm, Mortgage Solutions Financial Expo Center 3650 N. Nevada Avenue

Admission: $5/adult, $4/senior & military, children 17 and under are free. Determined to work on your home remodel wishlist? Attend the HBA Home Show to get a head start on your upgrades. For more information: HBA

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Things to Do This Weekend (Apr 15-Apr 16) in Colorado Springs

Things to Do This Weekend (Apr 15-Apr 16) in Colorado Springs

Colorado Springs Things to Do

Water: Rain Barrels, Your Watershed, and More -  Sat Apr 15, 10:30am - 11:30am, PPLD - Cheyenne Mountain Library 1785 South 8th Street, Suite 100

Admission: Free. If you subscribe to our newsletter then you already know about this interactive class. You'll learn about our water system and how to use rain barrels. For more info, visit: Cheyenne Mountain Library. To get our next newsletter, sign up at the bottom of our homepage

Colorado Springs Things to Do

Chocolate Bunny Hike & Egg Hunt, Sat Apr 15, 9:00am - 2:00pm, Fountain Creek Nature Center 320 Peppergrass Lane

Admission: $4/member child, $5/non-member child. Reservations required. Happy Easter weekend! Various egg hunts are happening around town including this one in Fountain.  For more information: El Paso County Colorado.

 

Colorado Springs Things to Do

Switchbacks FC vs. Real Monarchs SLC, Sat Apr 15, 6:00pm - 8:00pm, Weidner Field 6303 Barnes Road

Admission: $15+. Take advantage of the nice weather this weekend watching our local Switchbacks and Monarchs in a rival game. For more information: Swtichbacks FC.

 

Colorado Springs Things to Do

Public Skating, Sun Apr 16, 2:00pm - 4:00pm, The Broadmoor World Arena 3185 Venetucci Blvd.

Admission: $4 admission, $3 skate rental. Get active this weekend skating at The Broadmoor World Arena. For more information: Broadmoor World Arena.

 

Colorado Springs Things to Do

Traditional Irish Session Music, Sun Apr 15, 3:00pm - 6:00pm, Jack Quinn's Irish Pub & Restaurant 21 S Tejon St

Admission: Free. Enjoy traditional Irish session music this Sunday at Jack Quinn's. Arrive early for brunch served between 11:00am - 3:00pm. For more information: Jack Quinn's Irish Pub & Restaurant

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Things to Do This Weekend (Apr 8-Apr 9) in Colorado Springs

Things to Do This Weekend (Apr 8-Apr 9) in Colorado Springs

Colorado Springs Things to Do

The Big Cool Science Festival -  Sat Apr 8, 10:00am - 4:00pm, Colorado College, Barnes Science Center 1040 N. Nevada Ave.

Admission: Free. Science activities and big science shows happening over at Colorado College on Saturday. Geared for kids K-8th but fun for the whole family. For more info, visit: Cool Science

Colorado Springs Things to Do

Pine Creek High School Theatre presents 'Beauty & the Beast', Sat Apr 8, 1:30pm and 7:00pm, Pine Creek High School Auditorium 10750 Thunder Mtn. Ave.

Admission: $8-$21.50. You saw Beauty & the Beast at the movie theater, now see a live performance from the award-winning PCHS Theatre which includes 41 actors, 15 orchestra members, and 37 stage techs. After the matinee show enjoy a tea party with the cast. For more information: Pine Creek Theatre.

 

Colorado Springs Things to Do

Veronika String Quartet, Sun Apr 9, 2:00pm, Colorado Springs Fine Arts Center 30 W. Dale Street

Admission: $20 non-members / $18 FAC Members. The classical quartet is continuing their FAC residency in one of their four performances for the 2016/2017 season. For more information: Fine Arts Center.

 

Colorado Springs Things to Do

Outlaw Yoga - Double Shot Saturday, Sat Apr 8, 4:00pm - 5:30pm / 6:00pm - 7:30pm, Yoga Studio Satya 1581 York Rd.

Admission: $25 each or $45 for both classes. Challenge your body and mind at two different yoga experiences. The first class is physically intense with live music, and the second class focuses more on breathing techniques and healing injuries. For more information: Yoga Studio Satya.

 

Colorado Springs Things to Do

Colorado Farm & Art Market, Sun Apr 9, 11:00am - 2:00pm, Cottonwood Center for the Arts 427 E. Colorado Ave.

Admission: Free. Get your local farm fresh food this Sunday! Showcasing local artists, artisanal foods, grass-fed meats and farm fresh eggs, greens, and more. For more information: Colorado Farm & Art Market

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Things to Do This Weekend (Apr 1-Apr 2) in Colorado Springs

Things to Do This Weekend (Apr 1-Apr 2) in Colorado Springs

Colorado Springs Things to Do

Dragontown Dan: Alice Cooper tribute benefitting Home Front Cares -  Sat Apr 1, 8:00pm, Stargazers Theatre & Event Center 10 S. Parkside Drive

Admission: Free. Most impressive Alice Cooper tribute artist and band putting on a show to benefit The Home Front Cares non-profit that provides emergency financial aid and other support to Colorado service members, veterans, and family members. Dragontown Dan has been perfecting his character since 1996 and even set a World Record for impersonating Alice Cooper. For more info, visit: Stargazers Theatre

Colorado Springs Things to Do

Spring Break Tinkering, Sat Apr 1, 10:00am - 12:00pm, Space Foundation Discovery Center 4425 Arrowswest Drive

Admission: $5-$10. Explore science, technology, engineering, art, and math at the Space Foundation Discovery Center. Activities for children 4-8 (with helper) and 9-17 (on their own) are offered including the grand finale which will be the launching of a Rube Goldberg Machine. For more information: Space Foundation Discovery Center.

 

Colorado Springs Things to Do

Colorado Springs Philharmonic presents Swing, Swing, Swing!, Sat Apr 1, 7:30pm, Pikes Peak Center for the Performing Arts 190 South Cascade Avenue

Admission: $21+. Return to the roaring decade with the Philharmonic as it celebrates its 90th anniversary performing favorites from the jazz and swing era. For more information: Colorado Springs Philharmonic.

 

Colorado Springs Things to Do

Woodworking: The Pallet Project, Sun Apr 2, 9:00am - 12:00pm, COCO Crafted 121 East Costilla Street

Admission: $60. Learn the basics of woodworking and build your very own beer caddy with the guidance of Pete Candelaria.  For more information: COCO Crafted.

 

Colorado Springs Things to Do

Alton Brown, Sun Apr 2, 4:00pm - 6:00pm, Pikes Peak Center for the Performing Arts 190 South Cascade Avenue

Admission: $44.25 - $95.75. Comedy, music, puppets, experiments, and more has been packed into ÔÇťAlton Brown Live: Eat Your Science." This interactive performance is sure to entertain. For more information: Pikes Peak Center

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