Colorado Springs Townhomes in High Demand as 2017 Comes to a Close

We’ve been writing quite a bit about townhomes in Colorado Springs; here’s why: Townhomes are a smart, affordable living option for small families, couples, or single residents. So often we meet with frustrated renters who assume that, because they don’t qualify for a single-family home, they must continue renting; this could not be further from the truth. 

As we’ve mentioned in the past, townhomes are maintained by a Home Owner’s Association and, while residents are responsible for monthly fees, these dues typically cover insurance, exterior maintenance, landscaping, snow removal, trash removal, and more. Keep in mind, single-family homeowners pay for these costs anyway. An HOA ensures that the complex is well cared for—and the owners don’t have to do any of the work! The dues that may seem like a deterrent is an investment in the property itself and works for the owner by keeping up the value of the townhome for years to come. 

Townhomes, while affordable, are in high demand, especially in popular school districts. October 2017 median sales prices a townhome in El Paso County was $211,250; October 2016 median sale price was $182,750. As of current, there are only 22 available townhomes under $300k in the El Paso County but, with a booming construction market, we see new townhomes going up every day in Colorado Springs, so buyers can look forward to seeing townhome inventory rise in early 2018.