Another strong month for Colorado Springs-area housing; sales and prices rise again
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House for sale in the 1600 block of North Cascade Avenue, north of downtown Colorado Springs September 3, 2015. CAROL LAWRENCE/THE GAZETTE

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Colorado Springs’ hot housing market burned even hotter last month, according to a report Thursday by Realtor.com, a California-based online real estate service.

In July, the Springs ranked No. 6 out of 300 metro areas nationwide in Realtor.com’s monthly hotness index, up from No. 9 in June and No. 11 in May.

Elsewhere in Colorado, Pueblo came in at No. 16 in July, Denver-Aurora- Lakewood ranked No. 83, Fort Collins was No. 90, Boulder ranked No. 92 and Grand Junction was No. 111.

Within Colorado Springs, the 80922 ZIP code — on the northeast side and including the Stetson Hills and Springs Ranch subdivisions — was ranked by Realtor.com as the city’s hottest area in the second quarter of this year.

The top five metro areas in Realtor.com’s July report were Midland, Texas; Fort Wayne, Ind.; Boise, Idaho; San Francisco-Oakland-Hayward, Calif.; and Columbus, Ohio. The bottom five: Charlottesville and Lynchburg, Va.; Albany, Ga.; Naples, Fla.; and Houma-Thibodaux, La., southwest of New Orleans.

Realtor.com’s index is based on the number of online views received by homes listed for sale in each market, which indicates demand in a particular area. Realtor.com also ranks housing markets based on the median number of days that homes were on the market before selling.

“This is a very hot market that is heating up compared to last month, and heating up compared to last year,” Realtor.com said in a thumbnail description of Colorado Springs. “Median days on market is 32 days, with inventory moving 11 percent faster than last year and 27 days faster than the U.S. overall. Properties in the area receive an average number of views 1.6 times higher than the U.S average.”

Other local and national housing reports also have pointed to Colorado Springs as one of the nation’s top housing markets.

Last week, the National Association of Realtors’ second-quarter report on home prices showed the Springs ranked No. 6 in the nation for median price increases during the second quarter. The Pikes Peak Association of Realtors, meanwhile, has reported that median prices set record highs during a four-month stretch from March through June.

Business writer, Colorado Springs Gazette

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