Colorado Springs is predicted to be one of the top markets where buyers will move in the last few months of this year. A popular destination for many out-of-state buyers, the city will continue to see high sales numbers in the fourth quarter of 2017.
The prediction is based on the Colorado Springs metro area’s high pre-mover index of 300 in the third quarter, according to a report released Nov. 30 by national property database ATTOM Data Solutions. Only Loudon County, Virginia, in the Washington, D.C. area had a higher pre-mover index (304).
Chicago, Ill., and Nashville, Tenn. are also expected to have strong sales in the fourth quarter.
Amy Lang, realtor with RE/MAX Properties, said there are a number of reasons why buyers will continue to move to Colorado Springs, whether from out-of-state or in-state.
“It’s obviously the area,” Lang said. “It’s a huge draw for outdoor enthusiasts and people who like a healthier lifestyle, and people who have come here in the military.
“It continually ranks up as the number one or two destination for veterans to retire — that’s a big draw. The Mountain Post is the number one requested destination to be stationed at or they come here in retirement.”
Other factors contributing to the increase include Colorado Springs’ low unemployment rate — which was 3.1 percent in October, according to the Bureau of Labor Statistics — and the types of jobs available, Lang said.
As more people move into the city, buyers face greater competition for homes priced at $200,000 or less.
“Available inventory has really just dropped there,” Lang said, “so anything in those markets is going exceedingly fast, and you have to be very competitive — and the $200,000 to $300,000 market is not that much different.
“If you’re looking in those price ranges you have to be on it the first, second or third day.”
In the last 11 weeks, Lang said she noticed a drop in active listings for single family patio homes because sellers were not listing homes during the holidays.
“As of this week, [there are] 114 active listings total for single family homes in the $200,000 range and below,” Lang said.
ATTOM Data Solutions Pre-Mover Housing Index is the ratio of homes with a “pre-mover” indicator over total single family homes and condos in a region.
“An index above 100 is above the national average and indicates an above-average ratio of homes that will likely be sold in the next 30 to 90 days in a given market,” ATTOM’s news release said.
The data was collected from 331 U.S. counties that had 50,000 single family homes or more and at least 50 pre-movers in the third quarter.