Colorado Springs CO Real Estate

Perched at an elevation over 6000 feet, this stunning city is nestled beneath the shadow of Pike’s Peak. Boasting an excess of 300 days of sunshine per year and near some of the world’s premier ski resorts, Colorado Springs, Colorado offers a quality of life unmatched by any other city of its size. With a population of over 400,000, surprisingly it is the 46th largest city in the United States.

Originally founded as a resort and vacation destination drawing tourists from the East, the city has blossomed into one the true gems of American western cities. The natural wonders of “Springs”, as the locals refer to it, include Lake Palmer (named after General William Palmer, the city founder), the Arkansas River, Seven Falls, Cave of the Winds and Garden of the Gods Park.

In recent years, the high tech industry has gravitated here for a myriad of reasons. Verizon, Hewlett-Packard, and Intel all have a major presence in the city. However, it is the U.S. Department of Defense that plays the largest role in the economy of Colorado Springs CO. Home to the Air Force Academy, and with corporate connections such as Boeing, Lockheed Martin and Northrop Grumman, the economy of this city is stable and remains relatively unaffected by the recent economic downturn plaguing many cities of comparable size.

Always among the U.S. top 10 “Most Livable Cities” lists, Colorado Springs still retains the charm and ambiance of a smaller Western town. Tourism is a major economic force as visitors from all over the country come here for the prime outdoor recreation opportunities year-round.

The Colorado Springs CO real estate market is on a continuous path toward improvement, bucking the course of many other parts of the West. In fact, there has been a 12 % rise in the number of home sales from 2009. The prices are beginning to trend upward with selling prices from 2010 exceeding those of 2009 by about 4%.

With foreclosures down and interest rates near record lows, this is an excellent time to make a purchase. Up until this point, buyers remained wary that the price decreases could continue. At least in this city, that does not appear to be a concern any longer. The median home price for sales in June increased to $205,000, a significant gain of 5.3% over the same month last year. These numbers are causing more sellers to list as evidenced by the 15% increase in the number of houses available for sale over June, 2009.

There are many other factors to consider and cost-of-living should be one of them. Even though salaries will be somewhat lower here than in Chicago for example, the reduction in cost-of-living more than offsets that decrease, resulting in a net income gain assuming a similar job in each city.

Many also consider Colorado Springs real estate to be an excellent investment choice for retirement. Due to the large number of military retirees due in the next few years, lots of senior-friendly construction has been underway lately. The fact that Denver is only 35 miles away and that this is one of the greenest cities in the country, makes it a natural attraction to many.

Ultimately, the benefits of a move to Colorado Springs seem impressive. Offering all of the amenities of a large city without the usual increase in expenses, it is a place that you should definitely consider for your relocation planning.