HARRY'S BI-WEEKLY UPDATE 5.27.25
May 27, 2025
HARRY’S BI-WEEKLY UPDATE
A Current Look at the Colorado Springs Residential real estate Market
As part of my “Special Brand of Customer Service”, it is my desire to share current Residential real estate issues that will help to make you a more successful and profitable Buyer and Seller.
YES, THE ECONOMY MAY BE GOING THROUGH SOME UPS AND DOWNS…BUT YOUR HOME APPRECIATION IS ONLY GOING ONE WAY…... UP.
For as long as I’ve been selling Residential real estate, I’ve been a believer and a personal buyer. I could never sell something that I didn’t personally believe or personally invest in.
Having started my career in Investment Banking and going into Residential real estate more than 52 years ago, I can honestly say I know the financial and real estate markets inside and out and I study them each morning when my Wall Street Journal is delivered. That’s just one of the reasons why I can not only find the best home fit for my clients but also can assist in finding the best financing options for them as well.
Over time, in all those years, local home values have continued to surpass the stock and bond markets--without fail.
I’ll give you one personal example. I purchased a rental property in July 2002 for $172,000. When the long-time renter recently passed away, I decided it was time to sell that property. Of course, it needed some updating and new appliances, etc. so I invested another $60,000 in the property before putting it up for sale.
While it took considerably longer to sell in this current market, it sold for $450,000. A good investment which also provided a nice monthly income for more than twenty years as it increased in value? You bet.
I give you that example for several reasons.
First, to show that I personally put my money where I believe it will give me the best return over time.
Secondly, to demonstrate that while it may take a bit longer in today’s market, homes ARE selling locally.
Colorado Springs and vicinity is fortunate in that it’s a place where folks find a work/life balance that is unbeatable and that’s why more and more companies are expanding and/or relocating here. There are a number of folks that want to retire here as well.
With those company expansions and relocations come employees who need a place to live and that keeps me busier than many of my contemporaries in some other parts of the country.
That is also illustrated in the national survey information I have posted below. Colorado Springs is showing greater median home price appreciation than a lot of the country.
I was pleasantly pleased to see that the surveys backed up what I had predicted last year when I said Colorado Springs would slowly move up nationally when it came to home price appreciation. We moved up even faster than I expected.
Those of you that have been “on hold” are watching homes continue to appreciate while waiting for interest rates to fall and realizing that waiting is costing you, most especially in the home appreciation that’s happening while you wait.
NOW is the best time to start your search if you’ve even considered a move in the last year or more. You might be surprised to find that the possible increased equity in your present home will provide you with a greater down payment, which in turn will result in less of a monthly output than you might expect.
But you won’t know anything unless you get together with me and we figure out how to put your wants, needs and budget requirements to the best use to find just the right place for you and your family.
Give me a call today at 719.593.1000 or email me at Harry@HarrySalzman.com and together let’s see how your Residential real estate dreams can become reality in the best time frame for you.
real estate VOTED AS BEST LONG-TERM INVESTMENT … 12 YEARS IN A ROW
KeepingCurrentMatters, 5.23.25
Some Highlights:
- In a recent Gallup poll, real estate has once again been voted the best long-term investment, a top spot it has claimed for 12 straight years.
- That’s because homeownership is one of the top ways to build your wealth, even with home price growth moderating and ongoing economic uncertainty.
- If you’ve been trying to decide whether it makes sense to buy a home today, give me a call and let’s see how we can make that a possibility that works for you and your family.
COLORADO SPRINGS RANKS #48 IN THE Q1 2025 FHFA HOUSE PRICE INDEX
Federal Housing Finance Agency, 5.27.25
The recently published FHFA House Price Index for first quarter 2025 lists Colorado Springs as #48 out of the top 100 in home price changes during that quarter.
Considering we were ranked at #75 in Q3 2024 and #87 in Q2 2024, that is a significant and very positive change which confirms our continued housing market strength.
Nationally, home prices were up 4.0% year-over-year according to the Federal Housing Finance Agency (FHFA) and up 0.7% compared to Q4 2024.
These rankings are from the top 100 metro areas in the U.S. and Colorado Springs showed a 4.2% median price change year over year which is a bit better than the national average appreciation.
The Federal Housing (FHFA) House Price Index is a comprehensive collection of publicly available house price indexes that measure changes in single-family home values based on data that extend back to the mid-1970’s from all 50 states and over 400 American cities. It incorporates tens of millions of home sales and offers insights about house price changes at the national, census division, state, metro area, county, ZIP code and census tract levels.
It is notable that home prices in 89 of the 100 largest metro areas rose over the previous four quarters.
Moving from a #75 ranking in Q3 to a #48 ranking shows that homes here are not only holding their values but increasing faster than the national average.
As I mentioned earlier, I had predicted that would happen in a newsletter last year and sure enough it did.
We are also considerably above #80 ranked Denver which is always fabulous news.
Below are copies of the entire list as well as of the Colorado Springs changes. Any questions? You know where to reach me.
COLORADO SPRINGS IS ALSO RANKED #48 OUT OF 228 MEASURED METRO AREAS IN THE JUST PUBLISHED NAR SURVEY
The National Association of Realtors, 5.8.25
In the just published report from the National Association of Realtors (NAR), single-family, existing-home prices grew in 83% of measured metro areas. This is down from 89% the previous quarter.
Compared to a year ago, the national median single-family existing-home price climbed 3.4% to $402,300.
Also compared to a year ago, the median price of single-family homes in Colorado Springs rose 3.5% to $464,700 per NAR, once again showing that we are doing better than the U.S. average and better than 180 of the 228 metro areas surveyed. This price reflects detached, single-family and patio homes but not townhomes or condominiums.
The median home price increase in the Springs ranked 48th highest of the 228 cities surveyed.
To see all 228 metro areas in alphabetical order, please click here. To see them in ranking order, click here. Or click here to see what income levels are required to purchase homes based on either a 5, 10 or 20 percent down-payment.
If you have any questions, please give me a call.
ERA SHIELDS STAT PACK
Data through April 2025, ERA Shields
Here is data from my company’s monthly “Stat Pack” that can better help you understand the local buying and selling reality. I have reproduced the first page, and you can click here to get the 5-page report in its entirety.
