COLORADO SPRINGS, Colo. - It might not be news to recent home buyers, but Colorado Springs is one of the top real estate markets in the U.S., according to Realtor.com.
The website released its list of top housing markets for 2018 based on growth, home sales, and affordability. Las Vegas topped the list, followed by Dallas at number two, but Colorado Springs was named the eighth best housing market.
Realtor.com cites the Springs' proximity to Denver as a big boon to housing sales, as people who work in Colorado's capital can live nearby for a fraction of the cost.
But another reason for the high rank: marijuana. Realtor.com cites the legalization of recreational marijuana as a strong reason for the state's growing economy, though El Paso County, where the Springs is located, doesn't allow recreational sales.
The website also says new construction is providing more housing options, though competition is still fierce. One property owner told the website she had four to six offers per property and they often promised at least $10,000 more than the asking price.
1. Las Vegas, Nev.
Median home price: $285,045
Predicted sales growth: 4.9%
Predicted price growth: 6.9%
2. Dallas, Texas
Median home price: $339,300
Predicted sales growth: 6%
Predicted price growth: 5.6%
3. Deltona, Fla.
Median home price: $275,050
Predicted sales growth: 5.5%
Predicted price growth: 6%
4. Stockton, Calif.
Median home price: $385,050
Predicted sales growth: 4.6%
Predicted price growth: 6.4%
5. Lakeland, Fla.
Median home price: $224,950
Predicted sales growth: 3%
Predicted price growth: 7%
6. Salt Lake City, Utah
Median home price: $360,828
Predicted sales growth: 4.6%
Predicted price growth: 4.5%
7. Charlotte, N.C.
Median home price: $325.045
Predicted sales growth: 6%
Predicted price growth: 3%
8. Colorado Springs, Colo.
Median home price: $375,000
Predicted sales growth: 3.1%
Predicted price growth: 5.7%
9. Nashville, Tenn.
Median home price: $358,501
Predicted sales growth: 1%
Predicted price growth: 7.7%
10. Tulsa, Okla.
Median home price: $199,586
Predicted sales growth: 7.5%
Predicted price growth: 1%
http://www.krdo.com/news/colorado-springs/colorado-springs-named-8th-best-housing-market-for-2018/670308081