Colorado Springs Market Continues to Grow at a Steady and Comfortable Pace


Wondering if buying a home is really better off in the long run? A recent press release from Market Watch says yes—specifically for buyers in Colorado Springs. Here’s why:

Home owners in Colorado Springs who have owned their property for a median of 8 years and 8 months saw an average gain of $38,150 when selling their home based on an approximate $250,000 home. That is an annual dollar gain of $5,201 on the sale and an overall percentage gain of 29%. While renting may initially seem like a safer option, Colorado Springs real estate continues to prove itself worthy of investment with lucrative returns. Additionally, rent prices are always changing while a mortgage payment stays the same. 

None of this data is new though for the Pikes Peak region. The 29% gain averages to about 3.4% per year—typical for our city as we have continued to see steady growth in home values over the past decades. While we may not be experiencing the rapid growth seen in other cities, such as Oakland, California or Portland, Oregon, both buyers and sellers appreciate the steady, reliable real estate market Colorado Springs has to offer. Oakland home owners, for example, saw a return of 78% on properties, or an average of $235,000 in profit from sales made in the last year. Although this sounds enticing, the old saying goes, what goes up must come down, so we appreciate the steady growth, rather than a rapid rise in home values in our city.

This is also great news for first time home buyers who may be nervous to make the jump from renting to owning. The steady growth of the Colorado Springs market makes it a comfortable place to invest and take on a mortgage.

If you are interested in talking about return on investment for home buyers in Colorado Springs, or market predictions, give one our agents at Woodleaf Realty a call!