Single-Family Homes
The Bartic Group's Market Report www.TheBarticGroup.com
Colorado Springs, CO
This week the median list price for Colorado Springs, CO is $518,500 with the market action index hovering around 94. This is an increase over last month's market action index of 89. Inventory has increased to 323.
Real-Time Market Profile Median List Price
$518,500
Market Action Index
Median Price of New Listings
$469,450
This answers “How’s the Market?” by comparing rate of sales versus
Per Square Foot
$249
Average Days on Market
51
Median Days on Market
7
Price Decreased
15%
Price Increased
10%
Relisted
3%
Inventory
323
Median Rent
$2,228
Market Action
94
inventory. 50
40
Buyer's Market
60
Seller's Market
70
100
10 0
on
94
90
M
ay Tod th
Las t
80
20
30
Strong Seller's Market Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
Strong Seller's Market
Market Segments Each segment below represents approximately 25% of the market ordered by price. Median Price
Sq. Ft.
Lot Size
Beds
Bath
Age
New
Absorbed
DOM
$1,204,500
4,154
0.5 - 1 acre
5
4
6
22
11
35
$669,600
3,334
6,500 - 8,000 sqft
4
3
2
22
29
14
$474,086
1,862
4,500 - 6,500 sqft
3
2.5
1
43
29
0
$400,000
1,600
6,500 - 8,000 sqft
3
2
50
55
46
0
Fri Apr 15 2022
2 of 6
Single-Family Homes
The Bartic Group's Market Report www.TheBarticGroup.com
Colorado Springs, CO
Median List Price
The market appears to be hovering around this plateau. Look for a persistent change in the Market Action Index before we see prices deviate from these levels. $650K
$600K
$550K
$500K
$450K
$400K Apr 2019
Sep 2019
Jan 2020
May 2020
Sep 2020
7-Day Average
Jan 2021
May 2021
Sep 2021
Jan 2022
90-Day Average
Segments
Prices have generally settled at a plateau, although Quartile 1 has been trending a bit downward in recent weeks. We’ll need to see a persistent shift in the Market Action Index before we see prices across the board move from these levels. $1.8M $1.5M $1.3M $1.0M $750K $500K $250K $0 Apr 2019
Sep 2019
Jan 2020
Top 90-Day
May 2020
Sep 2020
Upper 90-Day
Jan 2021
Lower 90-Day
Fri Apr 15 2022
May 2021
Sep 2021
Jan 2022
Bottom 90-Day
3 of 6
Single-Family Homes
The Bartic Group's Market Report www.TheBarticGroup.com
Colorado Springs, CO
Price Per Square Foot
The market plateau is seen across the price and value. The price per square foot and median list price have both been reasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves from these levels. $275
$250
$225
$200
$175
$150
$125 Apr 2019
Sep 2019
Jan 2020
May 2020
Sep 2020
7-Day Average
Jan 2021
May 2021
Sep 2021
Jan 2022
Sep 2021
Jan 2022
90-Day Average
Inventory
Inventory has been relatively steady around these levels in recent weeks. 2K
1K
1K
750
500
250
0 Apr 2019
Sep 2019
Jan 2020
May 2020
Sep 2020
7-Day Average
Jan 2021
May 2021
90-Day Average
Fri Apr 15 2022
4 of 6
Single-Family Homes
The Bartic Group's Market Report www.TheBarticGroup.com
Colorado Springs, CO
Market Action Index
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues. 120
100
80
60
40
20 Apr 2019
Sep 2019
Jan 2020
May 2020
Sep 2020
7-Day Average
Jan 2021
May 2021
Sep 2021
Jan 2022
90-Day Average
Market Action Segments
Not surprisingly, all segments in the market are showing high levels of demand. Watch the quartiles for changes before the whole market changes. Often one end of the market (e.g. the high-end) will weaken before the rest of the market and signal a slowdown for the whole group. 120
100
80
60
40
20 Apr 2019
Sep 2019
Jan 2020
Top 90-Day
May 2020
Sep 2020
Upper 90-Day
Jan 2021
Lower 90-Day
Fri Apr 15 2022
May 2021
Sep 2021
Jan 2022
Bottom 90-Day
5 of 6
Single-Family Homes
The Bartic Group's Market Report www.TheBarticGroup.com
Colorado Springs, CO
Median Days on Market (DOM)
The properties have been on the market for an average of 68 days. Half of the listings have come newly on the market in the past 18 or so days. Watch the 90-day DOM trend for signals of a changing market. 100
80
60
40
20
0 Apr 2019
Sep 2019
Jan 2020
May 2020
Sep 2020
7-Day Average
Jan 2021
May 2021
Sep 2021
Jan 2022
90-Day Average
Segments
It is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles. 200
150
100
50
0 Apr 2019
Sep 2019
Jan 2020
Top 90-Day
May 2020
Sep 2020
Upper 90-Day
Jan 2021
Lower 90-Day
Fri Apr 15 2022
May 2021
Sep 2021
Jan 2022
Bottom 90-Day
6 of 6
4650 Bunchberry Ln, Colorado Springs, CO 80917-1335, El Paso County APN: 63243-01-056
CLIP: 9033920204
Beds 4
Baths 3
Sale Price $195,000
Sale Date 08/12/2005
Bldg Sq Ft 2,204
Lot Sq Ft 8,215
Yr Built 1978
Type SFR
OWNER INFORMATION
Owner Name
Wanless Karri
Mailing ZIP 4
1335
Mailing Address
4650 Bunchberry Ln
Mailing Carrier Route
C085
Mailing City & State
Colorado Springs, CO
Owner Occupied
Yes
Mailing Zip
80917
LOCATION INFORMATION
Property Zip
80917
Census Tract
55.01
Property Zip4
1335
Neighborhood Code
84-84
Property Carrier Route
C085
Township
13
School District
Colorado Springs 11
Range
66
Elementary School
Rudy
Section
24
Middle School
Sabin
Quarter
SW
High School
Doherty
Block
1
Subdivision
The Ridge Sub
Lot
55
Zoning
R1-6 AO
TAX INFORMATION
PIN
63243-01-056
% Improved
85%
Schedule Number
6324301056
Tax District
FBY
Legal Description
LOT 55 BLK 1 THE RIDGE SUB CO LO SPGS
ASSESSMENT & TAX
Assessment Year
2021
2020
2019
Market Value - Land
$48,000
$41,600
$41,600
Market Value - Improved
$271,637
$222,972
$222,972
Market Value - Total
$319,637
$264,572
$264,572
Assessed Value - Land
$3,430
$2,970
$2,970
Assessed Value - Improved
$19,420
$15,940
$15,940
Assessed Value - Total
$22,850
$18,910
$18,910
YOY Assessed Change (%)
20.84%
0%
YOY Assessed Change ($)
$3,940
$0
Tax Year
Total Tax
Change ($)
Change (%)
2018
$1,197
2019
$1,277
$79
6.6%
2020
$1,283
$7
0.54%
CHARACTERISTICS
Lot Acres
0.1886
Baths - Half
1
Lot Sq Ft
8,215
Stories
2
Land Use - County
Single Family Resid
Fireplace
Y
Land Use - CoreLogic
SFR
Fireplaces
2
Building Type
Single Family
Heat Type
Forced Air
Year Built
1978
Patio Type
Terrace
Bldg Sq Ft - Above Ground
2,204
Garage Type
Built-In
Bldg Sq Ft - Total
2,204
Garage Sq Ft
528
Bldg Sq Ft - Finished
2,204
Roof Material
Composition Shingle
Bldg Sq Ft - 1st Floor
924
Construction
Frame
Bldg Sq Ft - 2nd Floor
1,280
Exterior
Wood Siding
# Buildings
1
Floor Cover
Resilient
Total Rooms
6
Foundation
Concrete
Bedrooms
4
Quality
Average
Baths - Total
3
Equipment
Compactor, Kd, La, Lc, Ld, Lo
Baths - Full
2
Property Details
Courtesy of Christopher Wanless, REcolorado
The data within this report is compiled by CoreLogic from public and private sources. The data is deemed reliable, but is not guaranteed. The accuracy of the data contained herein can be independently verified by the recipient of this report with the applicable county or municipality.
Generated on: 04/15/22 Page 1/3
FEATURES
Feature Type
Size/Qty
Frame Garage
528
Gable
1
Hood (Standard)
1
Base Bath (With 3 Fixtr Bath)
1
3/4 Bath
1
2 Fixture Bath
1
Dishwasher
1
Concrete
1
Frame Wood Or Shingle
1
Aluminum
1
SELL SCORE
Rating
Low
Sell Score
371
Value As Of
2022-04-10 06:00:19
LAST MARKET SALE & SALES HISTORY
Sale Date
08/12/2005
Deed Type
Warranty Deed
Sale Price
$195,000
Owner Name
Wanless Karri
Price per SqFt - Finished
$88.48
Seller
Horne Steven F & Viola H
Document Number
127429
Sale Date
08/12/2005
05/30/2003
Sale Price
$195,000
$143,000
Buyer
Wanless Karri
Buyer
08/19/1997
08/27/1997
12/01/1978
Horne Steven F & Viola H
Mcknight Frank Jr & P earle
Mcknight Frank Jr & M cknight Pearle
Horne Viola H
Mcknight Pearle
Mcknight Pearle
$58,300
Seller
Horne Steven F & Viola H
Mcknight Frank Jr & P earle
Document Number
127429
121364
99457
Document Type
Warranty Deed
Warranty Deed
Quit Claim Deed
Title Company
Security Title Co
North American Title
Security Title Co
Mortgage Date
02/02/2021
12/26/2019
Mortgage Amount
$213,000
$207,000
Mortgage Lender
American Financing C orp
Borrower
Deed (Reg)
Deed (Reg)
02/25/2019
11/29/2010
08/17/2005
$189,000
$163,000
$156,000
American Financing C orp
American Financing C orp
Wr Starkey Mtg Llp
Plainscapital Mcafee Mt g Co
Wanless Karri
Wanless Karri
Wanless Karri
Wanless Karri
Wanless Karri
Mortgage Type
Conventional
Conventional
Conventional
Conventional
Conventional
Mortgage Purpose
Refi
Refi
Refi
Refi
Resale
Mortgage Term
30
30
30
30
30
Mortgage Term
Years
Years
Years
Years
Years
Title Company
Fitco-First Integrity Titl e
Fitco-First Integrity Titl e
First Integrity Title
Empire Title/Co Spgs L LC
MORTGAGE HISTORY
Borrower
Mortgage Int Rate Mortgage Int Rate Type
Fixed Rate Loan
Mortgage Date
08/17/2005
08/20/2004
06/03/2003
Mortgage Amount
$39,000
$164,000
$128,700
Mortgage Lender
Plainscapital Mcafee Mtg Co
Homecomings Fin'l Network Inc
Homecomings Fin'l Network Inc
Borrower
Wanless Karri
Horne Steven F
Horne Steven F
Horne Viola H
Horne Viola H
Borrower Mortgage Type
Conventional
Conventional
Conventional
Mortgage Purpose
Resale
Refi
Resale
7.5
7.625
Mortgage Int Rate Mortgage Int Rate Type
Fixed Rate Loan
Adjustable Int Rate Loan
Adjustable Int Rate Loan
Mortgage Term
15
30
30
Mortgage Term
Years
Years
Years
Title Company
Property Details
First American Heritage Title
Courtesy of Christopher Wanless, REcolorado
The data within this report is compiled by CoreLogic from public and private sources. The data is deemed reliable, but is not guaranteed. The accuracy of the data contained herein can be independently verified by the recipient of this report with the applicable county or municipality.
Generated on: 04/15/22 Page 2/3
FORECLOSURE HISTORY
Document Type
Notice Of Trustee's Sale
Recording Date
12/31/2002
Document Number
233625
Final Judgment Amount
$128,121
Original Doc Date
11/19/1999
Original Document Number
177303
PROPERTY MAP
*Lot Dimensions are Estimated
Property Details
Courtesy of Christopher Wanless, REcolorado
The data within this report is compiled by CoreLogic from public and private sources. The data is deemed reliable, but is not guaranteed. The accuracy of the data contained herein can be independently verified by the recipient of this report with the applicable county or municipality.
Generated on: 04/15/22 Page 3/3
Map of Property Locations
4839 S Old Brook Circle, Colorado Listing Id: Status: Price: 1 Subtype: Ttl SqFt: Bd/Bth: Show #:
Springs, CO 80917 9692047 Closed 04/05/22 $430,000 SFR 2,362 3/3 303-573-7469
4275 Iron Horse Trail, Colorado Springs, CO 80917 Listing Id: 6619156 Status: Closed 03/31/22 Price: $480,000 Subtype: SFR 2 Ttl SqFt: 2,627 Bd/Bth: 4/3 Show #: 800-746-9464
Broker 1 Page 4839 S Old Brook Circle, Colorado Springs, CO 80917 (Status: Closed, Listing ID: 9692047) Close Price: $430,000 County: El Paso List Price: $430,000 Property Type: Residential Original List Price: $430,000 Property Subtype: Single Family Residence Levels: Multi/Split Basement: Yes Structure Type: House Year Built: 1981 Subdivision Name: Old Farm Listing Contract Date: 02/03/2022 Purchase Contract Date: 03/08/2022 Contingency: None Known Close Date (DIM): 04/05/2022 Days In MLS: 10 Association: N Multiple: Cov/Rest: N Assoc Fee Tot Annl: $0.00 Tax Annual Amt: $821 Tax Year: 2020 Tax Legal Desc: LOT 21 BLK 1 OLD FARM SUB FIL NO 1 COLO SPGS Interior Area & SqFt 2,362 Living Area (SqFt Finished): 2,270 Above Grade Finished Area: 1,749 613 Below Grade Finished Area: 521 Below Grade Unfinished Area: 92 $182 PSF Finished: $189 PSF Above Grade: $246 Bsmnt Ceiling Ht: Fireplace: 1/Family Room, Wood Burning
Building Area Total (SqFt Total): Below Grade Total Area: PSF Total: Basement: Partial Foundation: Slab Heating: Forced Air Cooling: None HVAC Description: Interior Features: Breakfast Nook, Primary Suite Appliances: Dishwasher, Disposal, Dryer, Microwave, Oven, Range, Refrigerator, Washer Flooring: Tile, Vinyl, Wood Furnished: Unfurnished Exclusions: Seller's personal property, All TV's and tv mounts. Bed & Bath Summary Bedrooms Total: 3 Bathrooms Total: 3 Baths Full: 1 Baths Three Quarter: 1 Baths Half: 1 Baths One Quarter: 0 Parking Parking Total: 2 Garage Spaces: 2 Offstreet Spaces: 0 Site & Location Information Lot Size: 0.16 Acres / 7,000 SqFt Waterfront Feat: Elementary School: Scott / Colorado Springs 11 Bldg/Complex Name: Middle/Junior Sch: Jenkins / Colorado Springs 11 High School: Doherty / Colorado Springs 11 Building & Water Information Architectural Style: Traditional Direction Faces: South View: Construction Materials: Frame Roof: Composition Exterior Features: Water Included: Yes Water Source: Public Sewer: Public Sewer Public Remarks Great Opportunity Property with No HOA! Located in a sought after family neighborhood and close to schools, shopping and parks! This tri-level home boasts 3 bedrooms and 3 baths, hardwood floors, updated kitchen and a traditional floorplan. Formal living and dining rooms, a large family room and a breakfast area with a french door to the back deck. The upper floor has the primary bedroom with atta... Confidential Information Private Remarks: OFFERS MUST BE SUBMITTED TO CO-LISTING AGENT, JAYNE DAVISSON, TO BE CONSIDERED. When Submitting an Offer, 13. Transfer of Title will be a Personal Representative's Deed. Co-Listing Agent uses CTMe so please link on CTMe with listing agent. Buyer and Buyer Agent to verify all MLS info - including SQFT, Schools, zoning info. Property is being sold as is! The Seller has not lived in the property. Sel Buyer Agency Comp: 2.8% Dual Variable: No Submitted Prosp: No Transaction Broker Comp: 2.0%
List Agent: Bramer Thomas Team List Office: BTT Real Estate Email: team@bramerthomasteam.com Co List Agent: Jayne Davisson Co List Office: BTT Real Estate Email:
jayne@bttrealestate.com
Buyer Agent: PPAR Agent Non-REcolorado Buyer Office: NON MLS PARTICIPANT Email: Concessions: No Buyer Financing: Conventional
List Agent Phone: 720-291-1111 Mobile: 720-934-4745 Phone: 720-737-8581 Mobile: 720-737-8581 Buyer Agent Phone: Mobile: Close Information
Not intended for public use. All data deemed reliable but not guaranteed. © REcolorado 2022.
Generated on: 04/15/2022 11:02:28 AM
Full Property View
4839 S Old Brook Circle, Colorado Springs, CO 80917
----
$430,000 - Closed
4275 Iron Horse Trail, Colorado Springs, CO 80917 (Status: Closed, Listing ID: 6619156) Close Price: $480,000 County: El Paso List Price: $450,000 Property Type: Residential Original List Price: $450,000 Property Subtype: Single Family Residence Levels: Two Basement: Yes Structure Type: House Year Built: 1976 Subdivision Name: Homestead Listing Contract Date: 03/11/2022 Purchase Contract Date: 03/13/2022 Contingency: None Known Close Date (DIM): 03/31/2022 Days In MLS: 2 Association: N Multiple: N Cov/Rest: N Assoc Fee Tot Annl: $0.00 Tax Annual Amt: $798 Tax Year: 2020 Tax Legal Desc: LOT 177 THE HOMESTEAD SUB FIL NO 1 Interior Area & SqFt Building Area Total (SqFt Total): 2,627 Living Area (SqFt Finished): 2,592 Above Grade Finished Area: 2,087 Below Grade Total Area: 540 Below Grade Finished Area: 505 Below Grade Unfinished Area: 35 PSF Total: $183 PSF Finished: $185 PSF Above Grade: $230 Basement: Partial Bsmnt Ceiling Ht: Heating: Electric, Wall Furnace Cooling: None HVAC Description: Exclusions: SELLERS PERSONAL PROPERTY AND ANY/ALL STAGING ITEMS Bed & Bath Summary Bedrooms Total: 4 Bathrooms Total: 3 Baths Full: 2 Baths Three Quarter: 0 Baths Half: 1 Baths One Quarter: 0 Parking Parking Total: 2 Garage Spaces: 2 Offstreet Spaces: 0 Site & Location Information Lot Size: 0.20 Acres / 8,712 SqFt Waterfront Feat: Elementary School: Rudy / Colorado Springs 11 Bldg/Complex Name: Middle/Junior Sch: Sabin / Colorado Springs 11 High School: Doherty / Colorado Springs 11 Building & Water Information Construction Materials: Frame, Stucco Roof: Composition Exterior Features: Water Included: Yes Water Source: Public Sewer: Public Sewer Public Remarks Beautiful 4 bedroom and 3 bathroom home with easy access to Powers and North Academy. The home sits on a corner lot and has tons of curb appeal. The front driveway is inlay brick that matches the walkway to the front door and also has a cute sitting area. The front landscaping on this property is breathtaking with large mature trees and a large grass area. The home has stucco siding and a class 4 ... Confidential Information Buyer Agency Comp: 3% Dual Variable: No Submitted Prosp: No Transaction Broker Comp: 3%
List Agent: Elliot Bannister List Office: Coldwell Banker Realty BK Email:
elliot.bannister@coloradohomes.com
Buyer Agent: Jeffrey Johnson Buyer Office: Keller Williams Premier Realty, LLC Email:
jeffjohnson@thejohnsonteam.net
Concessions: Buyer Closing Costs/Seller Points Paid, $2,000 Buyer Financing: Conventional
List Agent Phone: 719-600-1199 Mobile: 719-600-1199 Buyer Agent Phone: 719-930-5169 Mobile: 719-930-5169 Close Information
Not intended for public use. All data deemed reliable but not guaranteed. © REcolorado 2022.
Generated on: 04/15/2022 11:02:29 AM
4275 Iron Horse Trail, Colorado Springs, CO 80917
----
$480,000 - Closed
Property Type is 'Residential' Mls Status is one of 'Active', 'Pending' Mls Status is 'Closed' Status Contractual Search Date is 04/15/2022 to 01/15/2022 Latitude, Longitude is within 0.50 mi of 4650 Bunchberry Ln, Colorado Springs, CO 80917, USA Originating System Name is one of 'REcolorado', 'ROCC', 'SSBR', 'IRES*' Comparable Listing YN is no 1 Property has been discarded.
Residential Closed Properties Listing ID Address
City
9692047 4839 S Old Brook CIR
Colorado Springs Colorado Springs Count: 2
6619156 4275 Iron Horse TRL
Bds
Bths
Abv
Ttl
Fin
Close
PSF Abv
PSF Ttl
List Price Close Price
CP/OLP
3
3
1,749
2,362
2,270
04/05/22
$246
$182
$189
10
430,000
$430,000 $430,000
100%
4
3
2,087
2,627
2,592
03/31/22
$230
$183
$185
2
450,000
$450,000 $480,000
107%
Averages:
1,918
2,495
2,431
$238
$182
$187
6
$440,000
$440,000 $455,000
103%
Orig Price $440,000
List Price Close Price $440,000 $455,000
CP/OLP 103 %
Closed Price:
Report Totals
Presented By: Christopher Wanless Generated on: 04/15/2022
Count : 2
Averages:
High $480,000
SqFt Abv 1,918
SqFt Ttl 2,495
Low $430,000 Sqft Fin 2,431
PSF Abv $ 238
PSF Fin DIM Orig Price
Median $455,000 PSF Ttl
$182
All data deemed reliable but not guaranteed. Copyright REcolorado © 2022. All rights reserved. REcolorado.com
PSF Fin $187
CMA 1-Line Page 1 of 1
at Keller Williams Integrity
INTELLIGENT PRICING & TIMING Pricing a home for sale is as much art as science, but there are a few truisms that never change. ☐ ☐ ☐
Fair market value attracts buyers, overpricing never does. The first two weeks of marketing are crucial. The market never lies, but it can change its mind.
ASKING PRICE
PERCENTAGE OF BUYERS
+15%
10%
+10%
30%
Market Value
60%
-10%
75%
-15%
90%
Fair market value is what a willing buyer and a willing seller agree by contract is a fair price for the home. Values can be impacted by a wide range of reasons but the two largest are location and condition. Generally, fair market value can be determined by comparables - other similar homes that have sold or are currently for sale in the same area. Sellers often view their homes as special which tempts them to put a higher price on the home, believing they can always come down later, but that’s a serious mistake. Overpricing prevents the very buyers who are eligible to buy the home from ever seeing it. Most buyers shop by price range, and look for the best value in that range.
ACTIVITY
at Keller Williams Integrity
1
2
3
4
5
6
TIME ON MARKET (IN WEEKS)
Your best chance of selling your home is in the first two weeks of marketing. Your home is fresh and exciting to buyers and to their agents. With a sign in the yard, a description in the local Multiple Listing Service, distribution across the internet, open houses, broker’s caravan, ads, and email blasts to your listing agent’s buyers, your home will get the greatest flurry of attention and interest in the first two weeks. If you don’t get many showings or offers, you’ve probably overpriced your home, and it’s not comparing well to the competition. Since you can’t change the location, you’ll have to improve the home’s condition or lower the price. Consult with your agent and ask for feedback. Perhaps you can do a little more to spruce up your home’s curb appeal, or perhaps stage the interior to better advantage. The market can always change its mind and give your home another chance, but by then you’ve lost precious time and perhaps allowed a stigma to cloud your home’s value. Intelligent pricing isn’t about getting the most for your home – it’s about getting your home sold quickly at fair market value.