If you keep up with Colorado real estate news, you have probably heard by now that Colorado Springs came in second place for the U.S. News & World Report magazine’s 2018 list of best places to live in.
Our favorite city at the base of Pikes Peak was beaten out by Austin, Texas (ranking in at number one), but we moved up nine places from the 2017 list (Colorado Springs ranked 11th). Even more impressive, Colorado Springs outranked Denver, Portland, Minneapolis, and Seattle (all ranked in the top 10).
In an article published by The Gazette, Colorado Springs Mayor John Suthers commented on the rankings, stating,
“To be the second-best city is a pretty remarkable transformation over the past several years. We wouldn’t have been able to do it without citizens’ investment in roads and stormwater (projects), plus all of the private investment that has been made in the last few years.”
While we are proud and excited that our gorgeous city continues to move up on the list, what we are really interested in and want to share with you is how home prices and sales are impacted by these rankings. Lists like these that circulate the country and encourage people to move to our beloved Colorado Springs.
If you have been contemplating buying or selling a home in Colorado Springs, now is the time to do it.
For buyers, purchasing a home now (even in the hot and competitive market) is necessary. As the Pike Peak region continues to grow, home prices will increase. While it is not a buyer’s market per se in our city, we expect home values will continue to rise as more people move here. Right now, there are still incredible, hidden areas where buyers can find a bargain. Next year, this may not be the case.
If you want to sell, now is a perfect time. This is especially true if you own a home in a desirable neighborhood like Old Colorado City. With a shortage of properties on the market, sellers are receiving multiple, competitive offers only hours after listing their home.
If you are thinking of buying or selling in Colorado Springs, our real estate team can help. Call our office today if you have any questions or are ready to get started!