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University Park, Actives and Solds

University Park, Actives and Solds

University Park is a beautiful neighborhood tucked away in a small community on one of the numerous hills in Colorado Springs. It sits on the north end of Colorado Springs. It has an average elevation of 6,639 feet above sea level. And there is a bustling business district less than a mile away, including a very active, full service YMCA, at the bottom of the hill. Schools servicing that area are the prestigous Colorado Springs District 11 schools.

University Park is a master planned community, started in 1998 and completed in 2009. The homes in this neighborhood start at around $400,000 and go up to over $1,000,000. The economic downturn has not caused a lot of foreclosures in this neighborhood, however there are a lot of homes on the market.

Active listings last month provided the neighborhood with over 2 years of inventory. Currently, there are 25 active single family listings at this time. Sold listings for this year totale 9 homes. At this rate there is still approximately 24 months of inventory. Sold prices are $350,000 on the low end and $675,000 at the top end.

While the market is improving, most active sales are in homes under $200,000. The $200,000 to $300,00 is seeing some improvement, but the upper end of the market is as slow as it was in 2008.

University Park is one of Colorado Springs' most fabulous neighborhoods. And in time, we'll see a recovery to a more balance market, even in this higher end area.

University Park

 

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Marianne Snygg, GRI, ABR, ASP
Broker Associate
ERA Herman Group Real Estate

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Colorado Springs and Monument Real Estate

Comment balloon 6 commentsMarianne Snygg • August 29 2009 07:09PM

Comments

Hi Marianne, University Park sounds like a great place to live. Having a YMCA nearby is an easy way to stay fit, too!

Posted by Mary Douglas, REALTOR, Red Feather Lakes, Colorado (United Country Ponderosa Realty, Red Feather Lakes, Colorado) over 9 years ago

Somewhat depressing stats, for such a great neighborhood!  To have the amenities that they do, in such a private setting, is difficult to come by in a city neighborhood! Nice post, hopefully it will attract some attention to University Park and more importantly your beautiful listing!

Posted by c m over 9 years ago

Hi Mary: It is a really nice place. Conveniently located to all things. The YMCA's are really big here in El Paso County. Do you have any near you?

It is very depressing, Cheryl. I've sent these stats to my seller, he knows there's just not much action in University Park. Their real competition is Cordera, Pine Creek, Northgate, Broadmoor, and Flying Horse. I keep suggesting a price reduction, be they are firm. Selling this property would make my year!

Posted by Marianne Snygg, ABR, ASP, GRI, SFR (ERA Herman Group Real Estate) over 9 years ago

No Cheryl, no YMCAs here ;-(  Red Feather Lakes is a very small town. I'm not even sure if Fort Collins (45 minutes away) has one??

Posted by Mary Douglas, REALTOR, Red Feather Lakes, Colorado (United Country Ponderosa Realty, Red Feather Lakes, Colorado) over 9 years ago

So many great neighbors and so few qualified and confident buyers.

Posted by Sabrina Kelley, Woodland Park Colorado Mountain Homes and Land (ERA Herman Group Real Estate) over 9 years ago

Oh, Sabrina, you are so right. But, I'm hopeful. I really feel things are picking up. How's the Woodland Park mariket?

Posted by Marianne Snygg, ABR, ASP, GRI, SFR (ERA Herman Group Real Estate) over 9 years ago

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