As we enter 2017, I’d like to provide you an update on last year’s real estate activity — and on the trends likely to shape the New Year.
We are happy to report that 2016 was a strong year – especially for properties in our Broadmoor neighborhoods. One clear sign: our sales were up 16 percent for 2016 over 2015. Seventy percent of those sales were Broadmoor Properties’ listings. Forty-three percent of properties sold for $1 million or more. The majority of our work, however, continues to focus on home buyers and sellers with varied needs and wide-ranging price points.
Another highlight: Broadmoor Properties brokers Michael Raedel and Tim Sheridan closed four of El Paso County’s five highest sales for 2016. Their success is the result of several factors. Foremost, we work diligently to find buyers and to close transactions. That’s one reason a number of clients return to us when it is time to sell years later. Many properties we offer are located in some of the city’s most sought out neighborhoods. All are surrounded by beautiful natural landscape and enjoy proximity to the incomparable Broadmoor Hotel and its many amenities.
2017 will likely mirror last year’s healthy real estate activity. Interest rates are expected to increase slightly by year’s end, but demand for homes – especially those in desirable Broadmoor neighborhoods — remains strong. Best of all, our community is more affordable than large metropolitan areas with tighter inventories.
So here’s to a great New Year! Please stop by our office next time you’re in the area to learn more.