Market Report as of
Withe the rise in the desire to have more land attached to homes, Penrose has seen recent increased activity. Following the substantial surge of energy from the Colorado Springs and Denver housing markets (#1 market in the nation for 2016), Penrose is experiencing rising interest. Property values are increasing as the inventory is shrinking. Demand is outpacing the current inventory as we shift into a seller's market.
Concerning potential sellers: If you are pondering selling, now is a very rare and opportune time to do so. There is marked risk of interest rates rising. If interest rates go up one point, buyers' home purchasing power goes down 10%. This means there will be a reduced pool of purchasers capable of acquiring your property at the price you desire. Statistically, this can lead to a reduction in your price to an undesirable degree.
Concerning potential buyers: Interest rates are extremely low (with current risk of them rising), market volatility variables for the nation as a whole are mostly stable, and property inventory in this area is moving towards record lows. If you want to purchase a property in Penrose, your window of opportunity is becoming smaller and smaller for a desirable price.