Amazon is hiring another 2,200 employees for Colorado Springs! Amazon already has 2,500 employees in the Colorado Springs area, so this is a big addition to job opportunities in Colorado Springs.
What does this mean for the city? It means that there are going to be 2,200 more people with jobs, who may be able to qualify for a loan in the near future. It will create more people who need a place to live!
Also, fun fact, did you know that the typical home value in 80921 is $649,714 vs 1 year ago when it was $549,538?
We'll take another zip code, 80919, where the typical home value is $552,956, versus $448,000 a year ago.
Now let's look at the hottest zip code in the country at this moment, 80916 (just to the left of the CS Airport). The median sale price for 80916 in 2021 is $344,000, vs a year ago at $283,500.
The median home price in Colorado Springs in general sits at 450,000. Compare that to Metro Denver, where the median home price is at $535,000.
So given all the rising home prices, are the people who get jobs at Amazon going to be able to afford homes where they work? Are prices just going to keep increasing?
As I’ve said before, I don’t see any reason for Colorado Springs to stop growing. It is a high demand city, with inviting landscapes and hiking, seasonal weather, fewer bugs, dry, growing nightlife and events, and more. It’s got 5 military bases, with a constant movement of military members. Colorado Springs has lots to offer businesses, as you can see from Amazon’s continued interest in using Colorado Springs as a hub for the whole state.
Yes, it’s unfortunate that the high home prices are driving out many people who want to live here. Still, the demand isn’t going away, and home builders are booming with business trying to keep up with that demand.
So should you buy now, if you’re thinking about it? Should you wait? I think if you want to buy a home for yourself to live in, or if it’s an investment, I don’t think the home values are going to decline at all. They will likely not increase quite as sharply as they did over the past year or two, but I see no reason for home values in Colorado Springs go back down.
If you’re thinking of investing in Colorado Springs, you may be aware that your profit margins are not going to be as lucrative as they would be elsewhere in the country, but you also may make up for that with home value appreciation, due to the demand. Rents are increasing also, so if you’re partial to the city, there are certainly opportunities to pick up investment properties in CS!
August Real Estate Stats for Colorado Springs!
These are the quick August 2021 stats for Colorado Springs, comparing this year to 2020:
•Average Sales Price UP 19.60
•Median Price UP 19.2%
•Residential Units Sold UP 8.3%
•Inventory Levels DOWN 55.7%
•Number of Listings DOWN 48.4.%
•Average Days on Market: 9 days
•Interest rates 2.84%
If you would like to see the full August report, click here:
In other news, the Marlboro Man's 8 million dollar house is for sale in Colorado Springs:
It's near the edge of Black Forest. Bob Norris played the Marlboro Man in ads in the 50s and 60s. It's a 14,000 square foot home on 15 acres, with 8 bedrooms, 10 bathrooms, a 5,300-square foot indoor ice rink, and the other normal rich people things like a movie theatre, tennis courts, courtyard, and swimming pool.
Bob Norris died almost two years ago, a few years after his wife. Bob hasn't owned the house for many years now, it's passed hands a few times since then, but it's fun to learn that history!
I also liked spotlighting a local Colorado Springs zip code last week and providing a snapshot of how the real estate looks there. This week let's take a look at 80922, and 80924. I quickly put together a couple small infographics for each zip code, thanks to the Canva app. Let’s take a look at them!
Expect to see more continued growth in 80924, as Colorado Springs continues to develop in the north and eastern sections of the city! If you live in a different zip code and are interested in what the numbers are for your zip code, let me know!
And that’s pretty typical, is the further north you go, the more expensive it’s getting, and of course that has to do with new development, rising costs of construction, and the desired north location. That’s fine with me, I’m happy living closer to the heart of the city, with mature trees all around! :)
If you're interested in finding out what your home is worth now, ask me! I'm happy to look into it, lots of people are shocked to learn how much of an increase they've had in equity.
If you think someone else would like to know what their house or zipcode is worth, let me know. I'm happy to share what I know!
Kevin James Bond
The Sufak Team
RE/MAX Real Estate Group
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