7 Reasons to Move to Colorado Springs, CO

Colorado Springs, located in the foothills of the Rocky Mountains, is a vibrant and beautiful city that offers residents a wide range of benefits. Colorado Springs has something to offer everyone, whether you are looking for outdoor activities, a strong job market, or a great place to raise a family. Here are just a few reasons why you may want to consider moving to Colorado Springs:

Colorado Springs Olympic City USA

Outdoor activities

Colorado Springs is known for its beautiful natural surroundings, including Pikes Peak, Garden of the Gods, and the Cheyenne Mountain Zoo. These natural attractions provide residents endless hiking, biking, and camping opportunities. With a couple different state parks, you can never be too far from nature.

Job market

Colorado Springs is home to a strong and diverse economy, with a focus on technology, defense, and healthcare. The city is also home to several major employers, such as Lockheed Martin, Northrop Grumman, and Memorial Hospital. We have Penrose Hospital and hundreds of teaching opportunities. Our restaurant market is growing fast as well.

Education

Colorado Springs is home to several highly ranked universities and colleges, including the United States Air Force Academy, Colorado College, and the University of Colorado at Colorado Springs. Check out these linked resources for rankings on Niche.com.

Lower cost of living

Compared to other major cities in Colorado, the cost of living in Colorado Springs is relatively low. This means that residents can enjoy a high quality of life without breaking the bank. With the average home price hovering around $500,000, you're sure to find something you love.

Great place to raise a family or for the single life

Colorado Springs is home to a strong and supportive community, with highly rated schools and a wide range of activities for all.

Small-town feel

Colorado Springs is a city of around 480,000 people and has a small-town feel, with friendly people and a strong sense of community. We still have all the amenities of a larger city with all the things to do, but small enough to feel important.

Weather

Colorado Springs, being in the foothills of the Rocky Mountains, has a semi-arid climate with little humidity, low precipitation and a lot of sunshine. It's not uncomfortably hot nor is it uncomfortably cold-at least not for too long!

The Keys 🗝️

Overall, Colorado Springs is a fantastic place to live and offers residents a wide range of benefits. From the beautiful natural surroundings to the strong job market and excellent schools, there are many reasons to consider moving to this vibrant and growing city.

IRIS BURTON | REALTOR®

RE/MAX PROPERTIES, INC.

102 SOUTH TEJON STREET

COLORADO SPRINGS, CO 80903

719.315.5016

IRISBURTON.COM

LIVINGTHESPRINGS@GMAIL.COM

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PROS & CONS of Living in Colorado Springs CO

Let's chat about the UPDATED pros and cons of living in Colorado Springs CO. Things are going to be so different in 2023. We have a lot of transplants. We'll talk about things to hate about living in Colorado Springs and will that outweigh the things to love?

Top PROS AND CONS of Living in Colorado Springs CO. I absolutely LOVE living in Colorado Springs CO, but it's not for everyone. This is my honest review of Colorado Springs CO after being raised here and raising my family here.

Living in Colorado Springs Pro

So many people love living in Colorado Springs for the mountain views and the nature and outdoor lifestyle. When you can go hiking and biking pretty much almost every day, it just feels good for your soul. People like the city vibe while being able to feel like they're on vacation as well and hide in comfort of their homes when the day is done.

Colorado Springs Communities

Living in Colorado Springs has many perks including our tight knit communities. Almost everyone knows everyone else if you're a native. The military community is big here and we love our soldiers! Have you ever lived in a city where really cool military aircraft and vehicles are often visible? The kids love it. Feels so patriotic. So if you're military, you'll fit right in.

Mountain Views from Black Forest CO

Traffic in Colorado Springs

I remember the moment when the traffic in Colorado Springs changed. I went from freely changing lanes to having to actually plan my route strategically so I didn't miss my exits or turns. It feels different now to have to be such a defensive and organized driver these days, but for being the second largest city in Colorado, I guess I can't complain. It could be worse!

Restaurants in Colorado Springs

The food culture in Colorado Springs has changed greatly for the better! So many new restaurants have popped up and I'm here for it! The food trucks out here are fantastic and not super expensive. If you're a foodie I post a lot on Instagram. You can follow here as well as the #coloradospringsfoodie to learn all the best spots to eat in Colorado Springs.

Colorado Springs Weather

The Colorado Springs weather is beautiful. Although I hate being cold, I can appreciate that most days are sunny here. Average temperature during the winter is usually between 40 and 50 degrees. As long as the wind is "chill" I can handle it. Some people love cold weather, I prefer spring and summer. You do get all seasons here, so that's great. I do wish we had more moisture.

Houses in Colorado Springs

The homes in Colorado Springs are super cute. We have a variety. If you like cabin feel or modern, we have it all. With lots of new construction updating homes, you're sure to find a house you can live in forever. Many of the homes will give you mountain views and mature trees, but the further west you go, the prettier the mountains, especially Garden of the Gods, Broadmoor, and Manitou Springs areas. Check those homes out in this video → Top Luxury Homes

The Keys 🗝️

Colorado Springs is a great place to live if you love all four seasons (including cold), mild weather, a variety of homes (outdated or country vibe, too), bad traffic sometimes, good food, incredible views, and amazing communities. Just keep in mind the altitude, cold and dry weather and you'll be good!

Need help relocating to Colorado Springs CO?

BOOK A CHAT!

IRIS BURTON | REALTOR®

RE/MAX PROPERTIES, INC.

102 SOUTH TEJON STREET

COLORADO SPRINGS, CO 80903

719.315.5016

IRISBURTON.COM

LIVINGTHESPRINGS@GMAIL.COM

The Colorado Springs Housing Market Just Got Worse for 2022

The Colorado Springs housing market for 2022 just got worse now that interest rates have gone up. Now that prices are overinflated, we're adding a few hundred dollars more per month on that monthly mortgage payment. The frenzy might be over.

Colorado Springs Foreclosure New Starts

The graph above goes over foreclosure new starts going back to the last five years, so back to 2017. And when you look at the stats in 2017, back when we had a little bit more of a healthier market. As far as being on the market, I remember when people were saying that we weren't able to ask for concessions back in 2017. I was floored, like, you know, I was offended by that. That was before appraisal gaps and before people offering tens of thousands over the list price to be competitive. I would say a most normal market was probably before 2016. But the graph above is from the El Paso County Assessor's-all public information, you can pull it up yourself.

The highest number in 2017 was108 for new starts. In April of this year we had 119; a considerable jump when comparing to last year. But, that was because we had the forbearance program, the government stepped in and helped out with those mortgages to help people from going into default. People had all this time shortly after the pandemic to kind of, buy time, take their payments and put them on hold or wrap them on the back end of the loan. With some banks, you didn't incur additional interest. It was a nice thing to take advantage of - the 18 months of no mortgage payments.

Will Housing Prices go Down in Colorado Springs?

Foreclosures could take up to about a year to come to fruition, this could be the start of something really bad, a lot of houses are going to come back on the market and that could reduce the prices, but then with the interest rates going up another 2% could cause a problem.

Is Housing Affordable in Colorado Springs?

What about your middle-class buyers, people that can no longer afford a house. And so that's kind of the new dilemma that has come into the picture. You know, with that middle-class situation, the monthly payments are going to be way too high, and the housing prices are already super inflated.

In this graph, you're going to see the average days on market. We've got pretty had ten days on the market on average back in May of 2021. We went all the way down to seven in July. Of course, it's a popular month to be selling your house. Lots of buyers come out after school is out. They want to move in the summertime before August when kids go back to school, and then we shoot up longer days on market over the months from there peaking at 14 in December.

That's why they say the best time to buy is over the holidays. You're going to get the best deal when you're buying a house during these months because most people don't want to move. First of all, it's wintertime. Second, no one wants to move over the holidays. I bought my house on Christmas one time and walked into 20k in equity by closing. As January hits, you get those days a little bit longer and then in May of this year 2022 we're at 11 days on market.

Overvalued Homes in Colorado.

I wanted to share this video of the day of reckoning coming.

This was an article written by the Denver Post, talking about the over inflation, specifically Denver home prices being way higher than they would be with the absence of the pandemic.

That has escalated the rising house prices, mass exoduses, leaving these major cities wanting to go somewhere that wasn't as strict as some of these larger cities such as California. Denver ranks 37 out of the 100 largest metros in April. Home values soaring just over 30.5% of what would have been expected based on long-term trends.

This would not have occurred, had the pandemic not hit creating this wave of the expected value for Denver based on trends and Zillow. Now, we know that Zillow went under with their i-buyer program because of their faulty algorithms. So, I take this with a grain of salt. But more importantly, is the Colorado Springs gap, which was reported at 45.9%, depending on which report you read. I go by the Pikes Peak Association of Realtors' data.

Nonetheless, that's a huge difference. That's almost double inflation. So what Denver Post is saying is home values tend to cycle between periods of over-inflation and undervaluation. So you can read this article in-depth, but just saying that we have a very high premium here in Colorado Springs.

I don't know how much it's going to change. I'm not an economist, I'm a real estate agent, and I use the data that I see, and share that with you. As I've said before, home buying has been tough. Now with interest rates, potential foreclosures coming on the market, it's making a lot of agents nervous with that higher monthly payment for buyers.

Colorado Springs Housing Market Summary

Here is the monthly summary report. This is where we get my average sales price. If you follow me on Instagram, I'm always posting the average home price, but let's look at the median home price.

If you're looking for a house, that's probably where you're going to land to get your average three-bedroom, two-bath home. That median price went up about half a percent. We're down on the average sales price, comparing May of 2022 to April of 2022. But still, year over year, we're looking at 13.2% increase.

So I will be staying on top of these numbers so we can see whether we're heading for a crash.

Homes For Sale from in Colorado Springs from May 2021 to May 2022

If you look back at the history, we didn't have a ton of homes available for sale in Colorado Springs last year in May. 1,184 was a good month for us. 1,360 in May and people are worried about that. Back in 2008, the new number of listings was 5,000 to 6,000, and even over 7,000 at one point. Even if we hit 2,000 new homes for sale on the market - to me, that is the market balancing. That's not a crash to me.

Have questions about the housing market? Feel free to reach out.

IRIS BURTON | REALTOR® | COLORADO SPRINGS

PROSPERITY GROUP BY EXP REALTY

3361 NORTH ACADEMY BLVD

COLORADO SPRINGS, CO 80917

719.315.5016

IRISBURTON.COM

IRISJBURTON@GMAIL.COM

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What do you think? Will there be a crash?

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  0%Absolutely
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  0%Don't think so
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  0%Who knows?