Some homes in Denver have doubled in price in the past five years, and now some people are moving south to Colorado Springs and Pueblo in order to escape the skyrocketing home prices in Denver. For this reason, prices in Colorado Springs are skyrocketing as well, making it the storm for real estate investing.
The median sales price for homes in Colorado Springs for June to August 2016 was $239,000 based on 2,898 home sales. Average price per square foot for Colorado Springs was $164, an increase of 8% compared to the same period last year.
The only problem with this large increase in demand for housing in this area, there’s a huge lack of inventory. There is a solution, and where is the next area to skyrocket in Colorado?
Ski towns and Hot Spring resorts go hand in hand in Colorado. Soak the body in hot water after a day of skiing the Colorado powder.
Although ski town real estate has adjusted in value, it’s still can be out of touch on the price tag when it comes to most buyers.
Hot Spring towns usually are close distance to all the major ski areas and this is where you will find quiet country living. Manitou Springs, Hot Sulphur Springs, Glenwood Springs, are just a couple to mention on the list of great real estate investing. You can find affordable houses and affordable land in these towns and less restrictions from building inspectors.
Denver city boys and girls always come to the hills to buy vacation homes after they have purchased all the houses in the entire Colorado front range.
The time is now and the saying is, “buy low and sell high”. Small investors can get their hands in the pot.
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