Local Information

Forest Meadows Real Estate July 2022 show that home sales are starting to cool off slightly with sales down 25% from last year at 12 homes sold. However, prices continue to rise. The average sold price is up 12.4% at $531,625. The median price is up 11.7% at $521,750.  What is shocking is that for the first time since January 2020, the average selling price vs list price dropped below 100% to 99.9%. This indicates that the selling price was slightly less than the asking price on average. For comparison, this average was 103.3% last July. Sellers can expect to see offers closer to askingRead More →

A Window of Opportunity for Homebuyers Mortgage rates are much higher today than they were at the beginning of the year, and that’s had a clear impact on the housing market for buyers. As a result, the market is seeing a shift back toward the range of pre-pandemic levels for buyer demand and home sales. But the transition back toward pre-pandemic levels isn’t a bad thing. In fact, the years leading up to the pandemic were some of the best the housing market has seen. That’s why, as the market undergoes this shift, it’s important to compare today not to the abnormal pandemic years, but toRead More →

If you’ve been thinking about buying a home, you likely have one question on the top of your mind: should I buy right now, or should I wait? While no one can answer that question for you, here’s some information that could help you make your decision. Do You Need a House? This is an important consideration. If you are in need of a new house, then yes, now is the time for you to buy. Whether your landlord is selling your rental, you’re relocating for a new job, or your current home just doesn’t meet your needs, the best time to buy is when you are actuallyRead More →

Forest Meadows Real Estate June 2022 show that while did not set any price records in Forest Meadows & The Trails last month, the average and median prices showed double-digit appreciation. The average price is up 13.5% at $530,500. The median price is up 16.0% at $536,500. Homes sold for 2.4% over list price on average and the average time on market was only 5 days. As of this morning, there are 9 homes for sale and 17 homes pending sale in our neighborhood.  To see more detailed statistics for our neighborhood, including quarterly stats, click here. In the Pikes Peak Region, we have some good newsRead More →

Millions of Americans Have Discovered the Benefits of Multigenerational Households If your needs are changing, you may be thinking about sharing a home with additional loved ones, such as grandparents, adult children, or other extended family members. Whether it’s for financial or health-related circumstances, or simply because you’ve reached a new phase of life, you might be wondering if living in multigenerational homes under the same roof is a good move for you. Many people have found themselves in a similar situation and they’ve already made the choice to live in a multigenerational home. What Are Multigenerational Homes? The Pew Research Center defines a multigenerational household as aRead More →

Forest Meadows Real Estate May 2022 set new RECORD prices once again. The average price increased 20.1% to $551,000. The median price increased 18.8% to $552,385. This is the first month where the average and median prices have surpassed the $550k mark! Home prices ranged from $465,000 to $672,000 last month.  Sales are were up over 18% last month with 13 homes sold. There are currently 9 homes for sale and 14 homes pending close.  Homes sold for 4.2% over asking price on average last month in an average of just 4 days. Real estate is still moving swiftly in our neighborhood!  To see moreRead More →

Anyone who lives in Colorado Springs, or the state of Colorado for that matter, knows the dangers we face from wildfires and other natural disasters. Not only is it important to have a plan and be prepared, but there are some other special considerations to protect your home from wildfires in Colorado.  DO NOT BE LEFT UNDER-INSURED With the recent wildfires and loss of homes, homeowners are feeling the sting of salt in their wounds by finding out that their homes were way under-insured. The real estate market has seen double-digit price appreciation the last few years, and more than likely your home value has increased substantially. ItRead More →

Forest Meadows Real Estate April 2022 set new RECORD highs for the median and average homes prices in our neighborhood. The average home price is up 22.4% to $540,167! This is up almost $100k from last April which is just crazy! The median price is up 20.5% to $530,000 which is up $90k in one year. Homeowners should be seeing quite a bit of equity in their homes! The market is still swift as the average time on market was only 4 days last month and the average selling price was roughly 3.5% over list price. While sales went down slightly, we currently have 16 homesRead More →

Do you need more cash in your pocket during retirement years? Have you heard of a home equity conversion mortgage (HECM)? If not, this is the article for you (or maybe a loved one you know!).  A home equity conversion mortgage allows a homeowner to tap into some of the equity in their home. It allows the owner to have no mortgage payments, but also have money to live off of. All too often seniors are finding it increasingly difficult to afford medications, utilities, groceries, etc. and the HECM will allow seniors to live more comfortably without giving up their home.  This may sound eerily familiarRead More →

Forest Meadows Real Estate March 2022 set a new record for the median price. The median price increased 18.5% to $521,500. The average price increased 11.7% to 514,000. While the average price did not break the previous record, it did come in second place. Homes are selling in an average of just 3 days! Sold prices ranged from $465,000 to $545,000 last month. There are currently 2 homes for sale and 16 pending close as of April 1st. Homes sold for 3.96% over list price last month on average, indicating the high demand for homes which continues to push prices upwards. 29 homes have been sold year-to-dateRead More →