Rental Statistics for August 2014

We have just published the latest Colorado Springs Rental market numbers. August is usually a month when the rental market begings to cool down. For the past two years, August has been anything but cool. The Waldo Canyon and Black Forest fires were in July of 2012 and June of 2013 respectively, as a result, much of therelocation business we would have seen in June and July got pushed into the month of August. 

This August, we are seeing a return to normal. Although, the total number of properties rented in August of 2014 has dropped nearly 24% from the previous 2 years it is on par with what we would consider to be a “Normal” August. Here are the numbers:

Property Type Number Leased Avg Rent Avg Sq. Ft. Lease Price Per Sq. Ft.
1 Bedroom Condo/Townhome 3 $1,040 1,019 $1.02
2 Bedroom Condo/Townhome 55 $1,027 1,255 $0.82
3 Bedroom Condo/Townhome 30 $1,157 1,520 $0.76
1 Bedroom Single Family 7 $701 835 $0.84
2 Bedroom Single Family 19 $1,051 1,349 $0.78
3 Bedroom Single Family 143 $1,243 1,822 $0.68
4 Bedroom Single Family 108 $1,552 2,689 $0.58
5 or more Bedroom Single Family 49 $1,794 3,312 $0.54

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What’s More in TriLakes?

We do regular market updates for areas around the Pikes Peak Region. This week we are taking a look at the Tri-Lakes Area. The Tri-Lakes Area is located in Monument, Colorado. This area is popular due to the areas natural beauty, abundance of recreational activities and its’ proximity to both Colorado Springs and Denver.

 Homes in the area are generally larger here as are lot sizes, oh and the prices are as well!

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Briargate for $135,000?!?!?!

The Briargate area is popular for a number of reasons. First is location or more importantly, convenience. Briargate is conveniently located in the northern part of Colorado Springs, Colorado. This neighborhood is close to the Air Force Academy, I-25, shopping and restaurants.

The other big draw for this area are Academy District #20 Schools. This district has earned a strong reputation and is popular both in the area and among relocating buyers.

The average sales price in the Briargate neighborhood is $301,711. This is significantly higher than the average for the area which is $267,109.

So, when we have an opportunity to list a home in the Briargate neighborhood for $135,000, we get excited.

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