Q1 2021
Micro Market Report COLORADO SPRINGS
16 Lake Avenue
1990 Fox Mountain Point
Colorado Springs MARKET UPDATE
The demand for Colorado Springs is here to stay. Consistently ranked as one of the hottest zip codes and top places to live, Colorado Springs is drawing in interested buyers for numerous reasons including an abundance of nearby recreation, top-rated schools, job opportunities, and many of the same big-city attractions that Denver Metro offers. From the incredible restaurants crafted by award-winning chefs to the highly acclaimed outdoor adventures like Garden of the Gods, this area has something for everyone to enjoy. What makes Colorado Springs a sought-after locale are the typically larger home lots at a lower price than the nearby Denver Metro. LIV Sotheby’s International Realty produces a Micro Market Report focused on the Colorado Springs real estate market, analyzing Q1 2021 performance compared to the same timeframe in 2020. El Paso County, where Colorado Springs is located, showed a clear increase in demand with a 17.8% increase in average price. The strength of demand is even more notable when the 53.6% decrease in average days on market is considered. For the County as a whole, homes sat on the market for an average of just 13 days. The number of new listings coming onto the market decreased this year compared to Q1 of 2020 by 5.9% resulting in 3,556 new homes listed so far this year. This increase in performance led to a 19.4% rise in the total dollar volume sold.
in average days on market. Broadmoor reported an impressive 30.1% increase in average price, landing the average price for Q1 of 2021 at $907,070. Regarding the decrease in average days on market, Woodmoor showed a significant 73.3% decrease resulting in homes staying on the market for only 12 days so far this year. Full of historic charm, Colorado Springs continues to garner interest from potential buyers. Sellers are seeing the rewards of this interest, but the great news is that buyers still have plenty of opportunities to find their Colorado Springs home.
EL PASO COUNTY January through March
2020
2021
% Change
New Listings
3,778
3,556
-5.9%
Sold Listings (all properties)
2,782
2,821
1.4%
$385,485
$454,021
17.8%
28
13
-53.6%
100.2%
102.5%
2.3%
$1,072,419,270
$1,280,793,241
19.4%
Average Price Average Days on Market % Sold Price to Original List Price Total Dollar Volume Sold
Across the 14 communities included in this report, the majority showed similar trends in performance with increases in average price coupled with decreases
Based on Information from REColorado. This representation is based in whole or in part on data supplied by REColorado. REColorado does not guarantee nor is in any way responsible for its accuracy. Data maintained by REColorado may not reflect all real estate activity in the market.
coloradomicroreports.com
COLORADO SPRINGS NEIGHBORHOODS
1. Broadmoor
5. Flying Horse
9. Peregrine
13. Wolf Ranch
2. Broadmoor Bluffs/The Spire
6. Kissing Camels
10. Pine Creek
14. Woodmoor
3. Broadmoor Resort
7. Mountain Shadows
11. Sanctuary Pointe/Fox Run
4. Cordera
8. Old North End/Patty Jewett
12. Skyway
14
11
5
10
4 13
9
7
6
8
12 1 3 2
MICROMARKET REPORT | Colorado Springs livsothebysrealty.com
JANUARY - MARCH 2021 • COLORADOMICROREPORTS.COM
The number of properties sold in the neighborhood of Broadmoor increased by 26.9% January through March 2021 compared to that of 2020.
BROADMOOR RESORT
BROADMOOR BLUFFS/THE SPIRES
BROADMOOR
26.9%
January through March
2020
2021
% Change
$697,464
$907,070
30.1%
$182
$218
19.8%
69
36
-47.8%
$2,200,000
$2,875,000
30.7%
52
66
26.9%
% Sold Price to List Price
98.4%
99.4%
1.0%
January through March
2020
2021
% Change
$669,151
$778,500
16.3%
$164
$185
12.8%
88
26
-70.5%
$985,000
$1,291,000
31.1%
22
18
-18.2%
98.1%
99.4%
1.3%
2020
2021
% Change
$988,500
$2,331,667
135.9%
$190
$242
27.4%
132
34
-74.2%
$1,154,000
$2,875,000
149.1%
4
3
-25.0%
95.1%
97.6%
2.6%
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
149.1%
January through March Average Price Average Price per Square Foot Average Days on Market
The highest price in the Broadmoor
Highest Price
Resort area increased by 149.1% January
Properties Sold
through March 2021 compared to that of 2020.
% Sold Price to List Price
2021
% Change
$568,903
$617,362
8.5%
$158
$168
6.3%
68
20
-70.6%
70.6%
$1,000,000
$812,500
-18.8%
The average days on market in the
26
30
15.4%
% Sold Price to List Price
99.8%
101.2%
1.4%
January through March
2020
2021
% Change
$664,140
$825,148
24.2%
$165
$180
9.1%
106
47
-55.7%
$939,000
$1,969,300
109.7%
32
28
-12.5%
98.5%
99.5%
1.0%
2020
2021
% Change
$574,360
$796,500
38.7%
$215
$218
1.4%
22
25
13.6%
$1,100,000
$812,500
-26.1%
15
4
-73.3%
of Kissing Camels increased by 38.7%
98.4%
100.3%
1.9%
January through March 2021 compared
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
compared to that of 2020.
38.7% The average price in the neighborhood
to that of 2020.
KISSING CAMELS
January through March
by 70.6% January through March 2021
FLYING HORSE
Average Price
neighborhood of Cordera decreased
CORDERA
2020
January through March
MOUNTAIN SHADOWS OLD NORTH END/PATTY JEWETT
PEREGRINE
11.8% The average price per square foot in the
January through March Average Price Average Price per Square Foot Average Days on Market
2020
2021
% Change
$556,549
$551,215
-1.0%
$152
$170
11.8%
65
85
30.8%
$845,450
$850,000
0.5%
16
15
-6.3%
area of Mountain Shadows increased
Highest Price
by 11.8% January through March 2021
Properties Sold
compared to that of 2020.
% Sold Price to List Price
99.8%
101.9%
2.1%
January through March
2020
2021
% Change
$556,549
$621,256
11.6%
$152
$268
76.3%
65
21
-67.7%
$845,450
$1,333,000
57.7%
16
23
43.8%
99.8%
101.4%
1.6%
2020
2021
% Change
$566,863
$869,900
53.5%
$137
$178
29.9%
45
25
-44.4%
$660,000
$986,000
49.4%
8
5
-37.5%
98.9%
100.4%
1.5%
67.7%
Average Price Average Price per Square Foot Average Days on Market
The average days on market in Old North
Highest Price
End/Patty Jewett decreased by 67.7%
Properties Sold
January through March 2021 compared to that of 2020.
% Sold Price to List Price
January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
PINE CREEK
January through March
% Change
$624,324
$647,897
3.8%
$139
$158
13.7%
33
13
-60.6%
$1,600,000
$811,500
-49.3%
19
15
-21.1%
% Sold Price to List Price
99.4%
100.4%
1.0%
January through March
2020
2021
% Change
$701,289
$776,731
10.8%
$171
$185
8.2%
51
45
-11.8%
$1,100,000
$874,900
-20.5%
The average price in the neighborhood
16
8
-50.0%
of Sanctuary Pointe/Fox Run increased
99.7%
100.0%
0.3%
2020
2021
% Change
$675,427
$639,557
-5.3%
$185
$193
4.3%
38
25
-34.2%
$2,200,000
$639,557
-70.9%
The number of properties sold in Skyway
15
22
46.7%
inecreased by 46.7% January through
99.2%
99.1%
-0.1%
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
10.8% by 10.8% January through March 2021 compared to that of 2020.
46.7% March 2021 compared to that of 2020.
SKYWAY
2021
SANCTUARY POINTE/FOX RUN
2020
WOLF RANCH WOODMOOR
80.6% The average days on market in the neighborhood of Wolf Ranch decreased by 80.6% January through March 2021 compared to that of 2020.
January through March
2020
2021
% Change
$476,467
$561,550
17.9%
$139
$155
11.5%
67
13
-80.6%
$649,950
$725,000
11.5%
48
29
-39.6%
% Sold Price to List Price
99.6%
101.0%
1.4%
January through March
2020
2021
% Change
$547,508
$609,171
11.3%
$143
$169
18.2%
45
12
-73.3%
$739,000
$1,050,000
42.1%
38
34
-10.5%
99.8%
101.6%
1.8%
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
MICROMARKET REPORT | Colorado Springs JANUARY - MARCH 2021 • COLORADOMICROREPORTS.COM