QUARTER 1 2022
Micro Market Report COLORADO SPRINGS
3061 Treeline View
17675 State Highway 83
Colorado Springs MARKET UPDATE
Encompassing marvelous neighborhoods, culturally rich communities, and some of the state’s most inspiring natural wonders, Colorado Springs has something for everyone. This city has recently become a top destination to buy and sell homes thanks to its unique lifestyle, urban amenities, outdoor adventures, and slightly more space and affordability of housing than is typically found in Denver Metro. Coming off the heels of another great year in real estate, Colorado Springs managed to continue growing its home market through the first quarter of 2022. LIV Sotheby’s International Realty produces a Micro Market Report focused on the Colorado Springs market, within El Paso County, and its performance through Q1 of 2022 in comparison to the same time frame in 2021. The total dollar volume sold in El Paso County, which contains Colorado Springs, rose by 17.6% through March of this year, totaling $1,505,977,120. Homebuyers looking to make this one-of-a-kind community their home benefited from a slight increase in available inventory, which grew by 0.3% during the first quarter of the year. Overall, sold listings rose by 1.5% in the area showing that despite the unfavorable narrative about the real estate market nationwide, consumers are still able to find houses that truly feel like home. The average sold price of a home in El Paso County appreciated by 15.8% to $525,830 through March of this year. The speed of the market remained elevated as more people search for their dream homes in Colorado Springs. The average days on market here dipped from 13 days during Q1 of 2021 to 11 days through Q1 of 2022 – a 15.4% decrease. Looking at individual neighborhoods within Colorado Springs, several areas experienced notable increases in the number of homes sold through March of this year compared to the same time frame in 2021. The Wolf Ranch neighborhood saw one of the largest increases in home sales – rising by 100% from 29 homes sold in Q1 of last
year to 58 homes sold so far this year. Cordera also experienced heightened buying activity with a 36.7% increase in homes sold. Thanks to the demand for local homes, many areas saw property prices appreciate in Q1 compared to the same time frame last year. Homes in the Broadmoor neighborhood sold for 38.2% more through March of this year compared to January through March in 2021 – averaging $1,253,281 in sale price. The average price for a home in Cordera was $742,119 through Q1 of this year – a 20.2% increase. Conversely, homes in the Old North End / Patty Jewett neighborhood decreased in price marginally by 0.4% to reach an average sale price of $618,700, making it the most affordable neighborhood in Colorado Springs. Considering the lifestyle and market advantages that Colorado Springs provides to its residents, this community will continue to be a popular destination for those looking to buy and sell homes in the state.
COLORADO SPRINGS January through March
2021
2022
% Change
New Listings
3,554
3,565
0.3%
Sold Listings (All Properties)
2,821
2,864
1.5%
$454,021
$525,830
15.8%
13
11
-15.4%
102.5%
103.00%
0.5%
$1,280,793,241
$1,505,977,120
17.6%
Average Price Average Days on Market % Sold Price to Original List Price Total Dollar Volume Sold
Based on information from the Pikes Peak REALTOR® Services Corp. (“RSC”), for the period January 1st, 2022 - March 31st, 2022. RSC does not guarantee or is in any way responsible for its accuracy. Data maintained by RSC may not reflect all real estate activity in the market.
coloradomicroreports.com
COLORADO SPRINGS NEIGHBORHOODS
1.
Broadmoor
2. Broadmoor Bluffs/ The Spires 3. Broadmoor Resort
4. Cordera
8. Old North End/
5. Flying Horse
Patty Jewett
11. Sanctuary Pointe/ Fox Run
6. Kissing Camels
9. Peregrine
12. Skyway
7.
10. Pine Creek
13. Wolf Ranch
Mountain Shadows
14. Woodmoor
14
11
5
10
4 13
9
7
6
8
12 1 3 2
MICRO MARKET REPORT | Colorado Springs livsothebysrealty.com
JANUARY - MARCH 2022 • COLORADOMICROREPORTS.COM
BROADMOOR BROADMOOR BLUFFS/THE SPIRES
BROADMOOR RESORT
January through March
2021
2022
% Change
$907,070
$1,253,281
38.2%
$218
$255
17.0%
36
64
77.8%
$2,875,000
$3,500,000
21.7%
66
32
-51.5%
% Sold Price to List Price
99.4%
98.6%
-0.8%
January through March
2021
2022
% Change
$778,500
$835,500
7.3%
$185
$212
14.6%
26
7
-73.1%
$1,291,000
$1,150,000
-10.9%
18
10
-44.4%
% Sold Price to List Price
99.4%
103.1%
3.7%
January through March
2021
2022
% Change
$2,331,667
$1,975,000
-15.3%
$242
$282
16.5%
34
242
611.8%
$2,875,000
$3,500,000
21.7%
3
3
0.0%
97.6%
91.1%
-6.7%
Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold
44.4% The number of properties sold in Broadmoor Bluffs/The Spires decreased by 44.4% in the first quarter of 2022 compared to that of 2021.
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
$617,362
$742,119
20.2%
$168
$200
19.0%
20
23
15.0%
36.7%
$812,500
$967,532
19.1%
The number of properties sold in Cordera
30
41
36.7%
% Sold Price to List Price
101.2%
100.8%
-0.4%
January through March
2021
2022
% Change
$825,148
$965,962
17.1%
$180
$221
22.8%
47
21
-55.3%
$1,969,300
$1,992,500
1.2%
28
29
3.6%
% Sold Price to List Price
99.5%
100.4%
0.9%
January through March
2021
2022
% Change
$796,500
$964,246
21.1%
$218
$251
15.1%
25
56
124.0%
$812,500
$1,900,000
133.8%
4
7
75.0%
100.3%
99.5%
-0.8%
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
Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
decreased by 36.7% in the first quarter of 2022 compared to that of 2021.
The Colorado lifestyle comes together in one magnificent vision at Flying Horse, where you’ll find elegant homes, breathtaking views, and a private resort-style athletic club and spa. With homes priced from the upper $400k’s to custom homes in the millions, there’s something for everyone.
KISSING CAMELS
% Change
FLYING HORSE
2022
CORDERA
2021
January through March
PEREGRINE
January through March
2021
2022
% Change
$551,215
$693,117
25.7%
$170
$208
22.4%
85
28
-67.1%
$850,000
$1,102,500
29.7%
15
17
13.3%
% Sold Price to List Price
101.9%
101.0%
-0.9%
January through March
2021
2022
% Change
$621,256
$618,700
-0.4%
$268
$330
23.1%
21
13
-38.1%
$1,333,000
$1,425,000
6.9%
23
20
-13.0%
% Sold Price to List Price
101.4%
102.4%
1.0%
January through March
2021
2022
% Change
$869,900
$1,001,600
15.1%
$178
$195
9.6%
25
11
-56.0%
$986,000
$1,200,000
21.7%
5
3
-40.0%
100.4%
106.5%
6.1%
Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold
OLD NORTH END/PATTY JEWETT
MOUNTAIN SHADOWS
Mountain Shadows is a unique community built up against the Rocky Mountains. It’s located off of Centennial Boulevard and Flying W Ranch Road, just minutes from Garden of the Gods.
Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold
56.0%
The average days on market in Peregrine decreased by 56.0% in the first quarter of 2022 compared to that of 2021.
Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
$647,897
$694,814
7.2%
$158
$198
25.3%
13
3
-76.9%
$811,500
$865,000
6.6%
15
8
-46.7%
% Sold Price to List Price
100.4%
104.1%
3.7%
January through March
2021
2022
% Change
$776,731
$923,921
18.9%
$185
$223
20.5%
45
6
-86.7%
$874,900
$1,445,000
65.2%
8
12
50.0%
% Sold Price to List Price
100.0%
104.7%
4.7%
January through March
2021
2022
% Change
$639,557
$749,527
17.2%
$193
$239
23.8%
25
18
-28.0%
$639,557
$1,300,000
103.3%
22
15
-31.8%
99.1%
102.2%
3.1%
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
Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
46.7% The average days on market in Pine Creek decreased by 46.7% in the first quarter of 2022 compared to that of 2021.
103.3% The highest price in Skyway increased by 103.3% in the first quarter of 2022 compared to that of 2021.
SKYWAY
2022
SANCTUARY POINTE/FOX RUN
2021
PINE CREEK
January through March
WOLF RANCH WOODMOOR
100.0% The number of properties sold in Wolf
Ranch increased by 100.0% in the first
January through March Average Price Average Price Per Square Foot Average Days on Market Highest Price
2021
2022
% Change
$561,550
$682,579
21.6%
$155
$185
19.4%
13
57
338.5%
$725,000
$885,000
22.1%
29
58
100.0%
quarter of 2022 compared to that of
Properties Sold
2021.
% Sold Price to List Price
101.0%
102.1%
1.1%
January through March
2021
2022
% Change
$609,171
$788,480
29.4%
$169
$211
24.9%
12
18
50.0%
$1,050,000
$1,350,000
28.6%
34
34
0.0%
101.6%
102.9%
1.3%
24.9%
Average Price Average Price Per Square Foot Average Days on Market
The average price per square foot in
Highest Price
Woodmoor increased by 24.9% in the
Properties Sold
first quarter of 2022 compared to that of 2021.
% Sold Price to List Price
in your happy place Your home is more than a building or an address. It’s where you experience life, family, connection, growth. Your home should be as exceptional as you are, and as you are going to be. For a lifestyle inspired by your potential, there is only LIV Sotheby’s International Realty.
303.893.3200 | livsothebysrealty.com
WHY COLORADO?
04
NATIONAL PARKS
07
MOUNTAIN RANGES
28
SKI AREAS & RESORTS
300
AVG DAYS OF SUNSHINE ANNUALY
350+ CRAFT BREWERIES
MICROMARKET REPORT | Colorado Springs JANUARY - MARCH 2022 • COLORADOMICROREPORTS.COM