Home prices in Colorado Springs

As one of Money Magazine’s top five “Best Cities to Live In”, Colorado Springs home prices have remained surprisingly stable compared to many other US cities.  A strong military presence and many thriving high-tech businesses contribute to the economic stability of the area as well.

Why Colorado Springs Home Prices are on the Rebound

It is no surprise that Men’s Magazine recently rated Colorado Springs as the #1 “Fittest City in the U.S.” for 2009.  This “fitness” is clearly reflected in the city’s housing market, as evidenced by the town’s ability to rebound from a nationwide housing slump.  But some of the best reasons for the resilience of the Colorado Springs area are its natural beauty, active lifestyle and business-friendly government.

According to CNN Money.com, the median Colorado Springs home price was $189,000 as of the second quarter 2009, which was 12% lower than Q2 2008.  But according to the same study, it seems like Colorado Springs is on the rebound even faster than originally anticipated.   CNN Money predicts that Colorado Springs housing prices will only see a 1.9% decrease from Q2 2009 through March 2010.  This is significantly better than their forecast for Denver, which is a 7.8% decline.

Still, even with a rebounding economy, Colorado Springs home prices are still very reasonable, with an average 2400 square foot home still priced at an affordable $240,000.

The Allure of Colorado Springs

Many people find that when they visit Colorado Springs, they fall in love with the area and just don’t want to leave.  Situated near the base of America’s famous Pike’s Peak, to the east of the Rocky Mountains, Colorado’s second largest city is home to many colleges and universities, and an abundance of dining, shopping and entertainment options, including lively concerts and award-winning restaurants.  The city offers a wide variety of family attractions too; like the train ride up to the summit of Pike’s Peak, Glen Eyrie Castle and a mountain-top zoo.

Interesting and historic neighborhoods like Manitou Springs beckon shoppers to explore antique shops, art galleries and boutiques.  And of course, a dozen world-class ski resorts are just minutes away from town.  A city of diverse neighborhoods and interests, the area offers a wide selection of housing options as well, with Colorado Springs house prices ranging from under $100,000 to over a million dollars.

At Action Team Realty, we are familiar with the fair market values for every neighborhood, from Briarsgate to Black Forest, and Fountain Valley to Fort Carson.  Our three decades of experience in the local real estate market has taught us a lot about Colorado Springs home prices, and we look forward to sharing our knowledge with you.