Saturday, 23 February 2019
Agent Resource Center
This Old House - Do-it-Yourself

Woodmen Hills-Colorado Springs 2018 Real Estate Market in Review

Written by Posted On Thursday, 07 February 2019 06:31
Woodmen Hills Real Estate Market Report 2018 Woodmen Hills Real Estate Market Report 2018

Woodmen Hills is a popular neighborhood located just east of Colorado Springs, Colorado. The area has grown in popularity over the last few years due to an influx of new commercial amenities.

This area has traditionally been the go-to area for newer homes on larger lots. As the area has developed the lot sizes have gotten smaller while the demand has stayed constant.

Woodmen Hills Housing Market 2018 in Review

2018 was another strong year for the Woodmen Hills neighborhood. Sales remained strong, even in the face of competition from new home builders, the median price rose and inventory shrunk. The inventory portion is good news for sellers (less competition) while bad news for buyers.

Number of Home Sales 2009-2018

The number of sales stayed consistent from 2017 to 2018, the only difference this year was a lack of inventory. It seemed like there was more demand than there was available inventory. 2018 could have had more home sales if there had been more available inventory. 205 home sales is still an impressive number, especially when you take into account all of the new home construction in the area.

Woodmen Hills Number of Home Sales 10 year

Median Sales Price

The Median Sales price in the Woodmen Hills area hit a new high in 2018 of $329,000. This is 7.8% higher than the Median price for El Paso County.

Woodmen Hills Median Home Price10year

Inventory vs. Demand

The most noteworthy statistic is the Inventory of homes (sellers) versus the demand (buyers). 6 months or 180 days of inventory is generally thought to be a balanced real estate market. Above that number is considered a "Buyers Market" while fewer days is considered a "Sellers Market". Based on the chart below "Woodmen Hills" has been in a serious buyers market since late 2016.

Woodmen Hills Number of Sales vs. Number of Available Homes

Conclusion

The Woodmen Hills neighborhood has been popular for home buyers looking for newer homes on large lots at an affordable price. The lack of inventory in combination with the raising Median Home price has made the area less affordable. This is, of course, good news for current residents. If the tide continues to rise it will also mean good news for today's home buyers. 

If you want to search for Woodmen Hills Homes for Sale, we have a feature-rich new search tool, make sure to give it a look.

Rate this item
(0 votes)
Joe Boylan

I have been a Colorado Springs Realtor since 1997 and as a first-year agent, I received the Real Trends Magazine, "Rookie of the Year" Award. Since then I have participated in hundreds of real estate transactions. 

https://www.springshomes.com
Set it and forget it Marketing, Agent Trusted for 21 years. Click Here

Search by State:

Agent Resource

How to capture your next prospect - click here

Realty Times TV

View More

Realty Times

From buying and selling advice for consumers to money-making tips for Agents, our content, updated daily, has made Realty Times® a must-read, and see, for anyone involved in Real Estate.