Colorado Springs CO Homes For Sale

One of the true gems of the American West, Colorado Springs, Colorado attracts so many visitors from all over the nation that tourism is a major industry. All year round, people come to the area, seeking the top quality outdoor recreational opportunities, the world’s top ski resorts and the charming ambience of a small western town. Considering that the city’s population is over 400,000, it is interesting to note that it is the 46th largest city in the United States.

Although other industries, particularly high-tech, have a significant presence in Colorado Springs with offices for Verizon, Hewlett-Packard and Intel, no industry plays a larger role in the city’s economy than the US Department of Defense with its corporate connections to Boeing, Lockheed Martin and Northrup Grumman.

Colorado Springs CO homes for sale have increased 12% since 2009. Both foreclosures and interest rates are currently at record lows, making an investment real estate in this city a timely and excellent idea. The median home price for sales in June 2010, increased to $205,000, a significant gain of 5.3% over the same month last year.

The cost of living is an important factor when considering Colorado Springs homes for sale. Salaries are definitely lower here than in larger cities, such as Chicago, for example, but this is offset by a lower cost of living standard. For senior citizens, particularly military retirees, Colorado Springs represents an ideal community, as there have been a number of senior-friendly constructions under way in the last few years.

Originally settled by the native Ute, Cheyenne, Kiowa and Arapahoe Indians, Colorado Springs was a sacred, summer gathering place, which is known today as the Garden of the Gods Park. In 1870, a Civil War General from Pennsylvania named William Jackson Palmer settled in the area, establishing the Denver and Rio Grande Railroad and the city of Colorado Springs. His brilliant vision for the area was to transform it into a resort destination and hence its first moniker, “Little London.”

Palmer’s home was a 67-room castle named Glen Eyrie, which stands to this day as testimony to his amazing foresight. By the turn of the last century, Colorado Springs was the leading mine exchange matrix of the world and became known as “the city of millionaires” as 35 of the nation’s 100 millionaires had homes in the area.

Colorado Springs’ excellent climate, prime location at 35 miles away from Denver and at more than 6000 feet of elevation, coupled with the fact that it is one of the “greenest” cities in the nation, combine to make Colorado Springs CO an ideal place to grow and prosper.