Idaho Springs CO Real Estate

Idaho Springs, Colorado derives part of its name from the hot springs located in the vicinity. The “Idaho” aspect of the name remains a something of a mystery. With a population of 1889 as of the 2000 census, this town represents small town living at its very best.

The town was originally settled as a mining camp during the Colorado gold rush. In fact, this was the site of the first significant gold find in the state. It is speculated that the plumes of steam rising from the springs in the area attracted the attention of the “rushers”. After the placer or riverbed deposits were exhausted, miners turned to the nearby mountains in search of veins. They were quite successful.

Today, sitting adjacent to Interstate 70 and only 33 miles directly west of Denver, Idaho Springs is away from the crime and traffic of the big city, but close enough to utilize the benefits of the shopping and services it provides. Idaho Springs is ideally situated to take advantage of not only easy access to Denver, but also to the world-class ski resorts nearby. Vail, Copper Mountain, Breckenridge, Keystone, Arapahoe Basin, Loveland, Winter Park, Eldora and SolVista can all be reached within an hour or less.

The Argo Gold Mine and Mill is listed on the national directory of historic sites and draws visitors from all over the country and beyond. The story of the tunnel to Central City 4½ miles to the north is fascinating. Construction began in 1893 and it took 17 years to complete. The mill itself was responsible for processing in excess of $100 million dollars of gold during a time when prices were less than $35 an ounce. The Indian Hot Springs, which has been rated one of the world’s top ten of its kind, also brings international attention to the region.

Idaho Springs CO weather is the envy of most of the country, most of the year. Low humidity is common at the town’s elevation of 7524 feet, of course. Sunshine is in the forecast about 300 days per year. In the summer, count on high temperatures into the upper 70’s and nighttime lows into the upper 40’s. Winter daytime highs generally reach into the low 40’s with lows in the low teens. Snowfall is much less than most people imagine, with less than 80 inches total for the year, resulting in under an inch on the ground at most times.

Median household income has taken a sizeable leap upward this past decade from less than $40,000 per year to about $56,000 now. Most of that can be attributed to property purchasers from affluent regions buying second homes in the area. And, while most of the country has seen a consistent downward trend in home valuations, Idaho Springs CO real estate values have actually increased over the last five years. At the end of 2004, the median sales price for single-family homes was about $150,000. Today that number is closer to $180,000.

Those considering moving to a place where the air is immaculate and you are surrounded by some of the most magnificent natural beauty on Earth, should take a close look at Idaho Springs. Real estate demand being down lately has kept the prices well within reach for most families, but that is not likely to last much longer. This is one of those communities with the possibility of seeing significant price increases in the short run.