Colorado Springs is a home rule municipality that is the largest city by area in Colorado as well as the county seat and the most populous municipality of El Paso County, Colorado, United States. Colorado Springs is located in the east central portion of the state. It is situated on Fountain Creek and is located 60 miles (97 km) south of the Colorado State Capitol in Denver.
At 6,035 feet (1,839 m) the city stands over 1 mile (1.6 km) above sea level. This is higher than Denver, though some areas of the city are significantly higher and lower. Colorado Springs is situated near the base of one of the most famous American mountains, Pikes Peak, rising above 14,000 feet (4,300 m) on the eastern edge of the Southern Rocky Mountains. The city is home to 24 national governing bodies of sport, including the United States Olympic Committee, the United States Olympic Training Center, and USA Hockey.
The city had an estimated population of 465,101 in 2016, and a metro population of approximately 712,000, ranking as the second most populous city in the state of Colorado, behind Denver, and the 40th most populous city in the United States. The Colorado Springs, CO Metropolitan Statistical Area had an estimated population of 712,327 in 2016. The city is included in the Front Range Urban Corridor, an oblong region of urban population along the Front Range of the Rocky Mountains in Colorado and Wyoming, generally following the path of Interstate 25 in both states.
The city covers 194.9 square miles (505 km2), making it the most extensive municipality in Colorado.
A total commission of 6.0% is typically asked for by “full service” Agents working for the big national real estate firms in Colorado Springs, Colorado. 70% of Sellers list with the first Agent they speak to, and we find that most Sellers who agree to pay a full 6.0% commission do not realize that real estate commissions are NEGOTIABLE!
The national average total real estate commission in 2015 was 5.26% *
In Colorado Springs, Colorado, you will find the following real estate commissions charged*:
Typical Asking Commission: 6.0%
Competitive Commission: 5.0-5.5%
Very Competitive Commission: 4.5-4.99%
The median existing single-family home price in the West rose 7.5%, to $372,400, in the second quarter of 2017 compared to the the second quarter of 2016. Median sales prices for existing homes in the state's Major Metropolitan Areas are as follows:
In the State of Colorado, median home prices are as follows*:
|Metro Area||Median Sales Price||% of Annual Change|
|Denver, Aurora, Lakewood||$424,500||7.6%|
Real Estate Commissions are split between the listing Agent (who works for you to sell your home) and what will be offered on the MLS to any Agent that brings a Buyer to buy your home. In a typical 6% total commission, the listing Broker is paid 3% and 3% is offered on the MLS to all Agents working with Buyers (so they can see what they will earn if they bring their Buyer to your home and complete the sale).
In a competitive commission structure, ranging from 5% to 5.5%, the listing Agent agrees to a listing commission of 2% to 2.5%, and they will recommend that they offer, on the MLS, a commission of 2.5% to 3.0% to the Buyer’s Agent. Your Agent will usually tell you that if they offer less than 2.5% on the MLS that your home “won’t be shown”. This makes sense, in that, all things being equal, the Buyer’s Agent will want as big a payday as possible when they find the right home for their client. This is also especially true if market conditions favor Buyers in a so-called “Buyer’s Market” (high inventory levels in a period of unstable prices).
When you meet with your listing Agent, also remember that, unless they are a “Broker/Owner”, they will have to split their commission with their employing Broker. High producing Agents can work up to getting 90% of the listing commission from their Broker, but typically less experienced Agents may only receive 50% of the listing commission.
At ListingBidder.com, we first negotiate on your behalf a competitive real estate commission structure with HIGHLY EXPERIENCED, HIGHLY RECOMMENDED Agents who know your LOCAL market (even YOUR NEIGHBORHOOD); each ready to bid for your business. These Agents are not just ordinary Agents as many of them are broker/owners and they have the best ability to negotiate their commissions and be competitive, in part because they do not have to share their listing commission with the brokerage firm. This is a direct benefit to you and will save you thousands of dollars in real estate commission fees over the typical fees in Colorado.
Sellers who are also buying a home in the same local market have a volume discount advantage. ListingBidder can use this opportunity to negotiate an even better real estate commission rate fee on the sale of your home because the Agent will be more willing to give a deeper discount (a very competitive rate) knowing there is additional commission being earned on the purchase of another home. Be sure to check the box that you are also buying a home locally to receive these better rates.
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As of the 2010 census, the population of Colorado Springs was 416,427 (40th most populous U.S. city), and the population of the Colorado Springs Metropolitan Statistical Area was 645,613 in 2010 (84th most populous MSA), and the population of the Front Range Urban Corridor in Colorado was an estimated 4,166,855.
As of the April 2010 census: 78.8% White, 16.1% Hispanic or Latino (of any race), 6.3% Black or African American, 3.0% Asian, 1.0% Native American, 0.3% Native Hawaiian and Other Pacific Islander, 5.5% Some other race, 5.1% Two or more races. Mexican Americans made up 14.6% of the city's population. The median age in the city was 35 years. Non-Hispanic Whites were 70.7% of the population, compared to 86.6% in 1970.
Colorado Springs' economy is driven primarily by the military, the high-tech industry, and tourism, in that order. The city is currently experiencing some growth mainly in the service sectors. The unemployment rate for the city as of October 2015 was 3.9%, a decrease from 4.8% in October 2014 and 7.3% in November 2013 and compared to 3.8% for the state and 5.0% for the nation.
The defense industry plays a major role in the Colorado Springs economy, with some of the city's largest employers coming from the sector. A large segment of this industry is dedicated to the development and operation of various projects for missile defense. With its close ties to defense, the aerospace industry has also influenced the Colorado Springs economy.
Although some defense corporations have left or downsized city campuses, a slight growth trend is still recorded. Significant defense corporations in the city include Boeing, General Dynamics, Harris Corporation, SAIC, ITT, L-3 Communications, Lockheed Martin, and Northrop Grumman. The Space Foundation is based in Colorado Springs.