Colorado Springs Real Estate Market Is Heating Up

Despite a miserable showing in January, the local market here in the Springs really is heating up. It is especially obvious when you work with buyers in the more popular price ranges ($200k plus or minus). Here is an example. Early this week one of my clients sent me a list of 10 homes they wanted to see this weekend. By the time Friday had arrived, 6 of them were under contract. They sent me 4 more on Saturday evening, and by Sunday one of those was also under contract. They found a house they really liked, and while we were still discussing writing an offer, the listing agent called to let me know they had an offer coming in. These sorts of things were not happening in the prior 6 months. The good news is that we got our offer in quickly, and were able to come to terms on the house.
While the real estate market is improving, there are still clouds on the local economic horizon. Our favorite Chilis at Powers and Union has announced they are closing on February 18. This is such a bummer for us, as it was one of the first restaurants to open in the northern section of Powers, and was a super convenient place to stop for lunch after church, a quick and easy meal on a week night, and with clients, especially when working in the Cordera area. My personal opinion is that is is a mistake, as there is a new very large apartment complex opening soon within walking distance, and if they only had given it more time, they would be doing fine. There is no shortage of restaurants in town, or even Chilis, but it is disappointing to have such a convenient family favorite close.

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