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National Market Conditions
2017 3rd Quarter Market Report: Home Sales and Prices Hit a Wall

The 3rd quarter of 2017 ended with not much of a change from the 2nd quarter. Home sales are down slightly and home prices continue to rise with median home prices up 4.2% year over year, but down from the second quarter's 6.2% increase. The primary reason for the slow-down in sales is the limited number of homes for sale, higher prices and less buyers being able to afford to buy a home.

The most notable change in the 2nd quarter was a shift in the amount of buyer activity declining 16% from last quarter. Additionally we found a significant change in the amount of price appreciation. Although 91% of the markets reported price appreciation there was an 11% shift from those markets reporting 5-10% appreciation and over 10% appreciation to those markets reporting under 5% appreciation.

According the National association of Realtors (NAR) existing home prices were up 4.2% over last year; the inventory of unsold homes is at a 4.2 month supply and 48% of all homes were sold in under one month. Still home sales dropped overall due to the low inventory of homes for sale.

The data in this report is generated primarily from our survey of HouseHunt.com and MoveUp.com exclusive member real estate agents across the United States. This grass roots approach to studying the housing market gives us a thorough look at where the real estate market is through the eyes and perspective of the local real estate agents who are living and working in the trenches of each community.

Buyer and Seller Activity
The trend in buyer activity is significantly higher than seller activity, however there was a definite downward trend in the number of markets continuing to show increasing buyer activity in the 3rd quarter. Our Realtors reported increasing buyer activity in 73% of the markets - down 16% from last quarter, but up 7% compared to last year. Seller activity was increasing in 49% of the markets in the 3rd quarter which was no change from the 2nd quarter, but up 9% over last year.

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Spring 2018 Market Update
Briargate is one of the Premier areas to live in Colorado springs! Besides it’s community style makeup and neighborhoods, it’s also known for its convenience to great shopping, excellent schools, well designed neighborhood layouts, and its proximity to I-25, Briargate is one of the fastest growing areas in the Colorado Springs area. Homes for sale in Briargate are highly sought after and tend to only stay on the market for a few days when priced right and under contract typically in less than 30 days. With neighborhoods like Cordera and Pine Creek building new homes, Briagate continues to expand and offer a great living experience to its residents. Briargate Real Estate Statistics Homes for Sale in Briargate, CO: 151 Average Price in Briargate, CO: $456, 738 Highest Home Price in Briargate, CO: $719,950 Lowest Home Price in Briargate, CO: $259,900 It’s not only a great place to live, its a great place for outdoors activities. The Woodmen Trail provides an east-west route through commercial and residential areas in northern Colorado Springs. It begins by an electric substation just south of Briargate Boulevard and follows a power-line corridor. Not far from the trail’s end, you’ll pass Woodmen Plaza, a small shopping and dining complex anchored by a King Soopers grocery store. To continue your journey, you can connect to the Skyline Trail or the Briargate Trail, both of which travel north through the Briargate community. After about a half-mile on the Skyline Trail, you can reach Rampart Park, which offers picnic areas, restrooms and athletic fields.
Average Sold Home Price: $400,000

Average Time on Market: 30-60 days

Best Selling Price Range: $300,000 - $349,000

Existing Home Prices for the past 90 days: Increasing

Market Trend: Increasing

Buyer's or Seller's Market: More sellers than buyers

Buyer Activity for the past 90 days: Increasing

Seller Activity for the past 90 days: Increasing

Multiple Offers? Yes

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? 5-10%

Is Financing Available For Qualified Buyers? Yes

Housing Inventory: Limited Supply

Greatest Activity: Repeat Buyers

Nearest Metro Area: Colorado Springs

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Mike Ockert
719-209-0190
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15 year fixed rate: 3.66%
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15 year jumbo rate: 4.12%
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Real Estate Professional, Mike Ockert Mike Ockert
Synergy Realty Group, Inc.
Specializing in Briargate Real Estate
5225 N Academy Boulevard, Ste. 301
Colorado Springs, Colorado 80918
719-209-0190
Email Me | Receive New Listings by Email
Brokerage Logo of Synergy Realty Group, Inc.
(Because current market conditions can change rapidly in any given marketplace,
please check with Mike Ockert for current Briargate, CO market conditions before acting on this information.)
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