Property prices are forever in flux.
House values appreciate in the long term normally.
But, in real estate there is always a certain amount of risk.
When your house appreciates you have more resources to borrow against, and you'll create a better profit when you sell.
But how can you be sure what you're purchasing this year will appreciate over time? Property values in Colorado Springs change for various reasons.
Choosing a real estate agent in Colorado Springs who knows the factors that influence local prices is the most important part.
A lot of people think that the economy is the most important factor affecting real estate appreciation.
there are a lot of issues on a national level that impact your house's value: unemployment, interest rates, the stock market, and more.
However, your house's value and the aspects that play the biggest role in its appreciation are specific to the local Colorado Springs economy and housing market.
Location in a community - Proximity to schools, jobs, and amenities also have a major influence on almost all home buyers' decisions.
So these regions usually appreciate, or retain their value, best.
Recent sales - Your REALTOR® should give you data on the recent real estate sales in the areas that you're asking about. You'll want to know average time on market, selling versus listing price and more.
Appreciation history - Have property prices gone up or down over the past 5-10 years? Is the community believed to be desirable because of its location or affordability?
The local economy - Are local companies hiring? Have companies moved into or away from an area? Is there a fair combination of jobs in an area, or does it count on just one industry? Is the blend of commercial and residential zoning changing?
These items play a role.