Q2 2021
Micro Market Report COLORADO SPRINGS
1915 Fox Mountain Point
35 1st Street
Colorado Springs MARKET UPDATE
As the second largest city in the state, Colorado Springs is a place where locally owned businesses thrive, exciting entertainment abounds, and nature’s beauty is everpresent. Recently ranked the No. 6 spot on U.S. News & World Report’s list of the top 150 best cities to live in the nation, Colorado Springs is a highly sought-after destination for homebuyers looking to a uniquely Colorado lifestyle outside of the Denver Metro area. LIV Sotheby’s International Realty produces a Micro Market Report focused on the Colorado Springs market, within El Paso County, and its performance through Q2 of 2021 in comparison to the same time period in 2020. The total dollar volume sold in Colorado Springs grew by 34.8% through June of this year, totaling $3,358,976,730. Several factors, including appreciating home values and a rise in the number of properties sold, have contributed to this impressive increase. During the first half of the year, the number of listings sold grew by 11.6% compared to the same time frame of 2020. So far in 2021, there have been 7,069 homes sold in this community. Home prices for all property types in Colorado Springs experienced a 20.8% rise through Q2 of 2021, bringing the average price for homes in the area to $475,170. Several communities within Colorado Springs experienced increases in average home prices as well. Homes in the Broadmoor Resort neighborhood sold for 62.7% more through June of this year compared to January through June in 2020. The average price for a home in the Broadmoor Resort area was $1,872,250 through Q2 of this year. Kissing Camels also saw a notable increase in home prices, rising by 33.1%, which brought the average price of a home in the area to $994,771 through June.
there have been 87 homes sold so far this year – a 42.6% increase from 2020 when there were 61 homes sold during the same time frame. Consumers appear to be eager to purchase homes in many Colorado Springs communities, with the average number of days listings spent on the market trending downward for all neighborhoods. The most significant decrease in average days on market was observed in Wolf Ranch where listings spent an average of just 12 days on the market, which is 76.9% fewer days than last year. As of the best places to live in the country, Colorado Springs and its thriving real estate market are sure to provide ample opportunities to buyers and sellers hoping to begin their next chapters in a unique and exciting community.
EL PASO COUNTY January through June
2020
2021
% Change
New Listings
9,203
8,540
-7.2%
Sold Listings (all properties)
6,335
7,069
11.6%
$393,323
$475,170
20.8%
21
10
-52.4%
100.5%
103.8%
3.3%
$2,491,701,205
$3,358,976,730
34.8%
Average Price Average Days on Market % Sold Price to Original List Price Total Dollar Volume Sold
Broadmoor and Cordera have been popular neighborhoods with homebuyers thus far in 2021. Broadmoor saw a 47.1% increase in the number of properties sold, with 150 homes sold through Q2 of this year compared to the 102 homes sold through Q2 in 2020. In the Cordera neighborhood, Based on information from the Pikes Peak REALTOR® Services Corp. (“RSC”), for the period January 1, 2021 - June 30, 2021. 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 Spire 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
MICROMARKET REPORT | Colorado Springs livsothebysrealty.com
JANUARY - JUNE 2021 • COLORADOMICROREPORTS.COM
Average Days on Market
The average price in the neighborhood
Highest Price
of Broadmoor increased by 34.0% January through June 2021 compared to that of 2020.
BROADMOOR RESORT
BROADMOOR BLUFFS/THE SPIRES
BROADMOOR
34.0%
January through June Average Price Average Price per Square Foot
Properties Sold % Sold Price to List Price
January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
70.5%
January through June Average Price Average Price per Square Foot Average Days on Market
The average days on market in the
Highest Price
Broadmoor Resort area decreased by 70.5%
Properties Sold
January through June 2021 compared to that of 2020.
% Sold Price to List Price
2020
2021
% Change
$695,679
$932,365
34.0%
$180
$229
27.2%
50
30
-40.0%
$2,200,000
$2,875,000
30.7%
102
150
47.1%
98.7%
99.7%
1.0%
2020
2021
% Change
$704,040
$834,506
18.5%
$165
$195
18.2%
57
17
-70.2%
$1,500,000
$1,299,000
-13.4%
43
52
20.9%
98.6%
102.2%
3.7%
2020
2021
% Change
$1,150,750
$1,872,250
62.7%
$200
$254
27.0%
132
39
-70.5%
$1,895,000
$2,875,000
51.7%
7
8
14.3%
94.1%
96.8%
2.9%
Average Price 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
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
$576,223
$662,803
15.0%
$154
$177
14.9%
52
16
-69.2%
$1,005,967
$990,900
-1.5%
61
87
42.6%
99.3%
101.6%
2.3%
2020
2021
% Change
$678,970
$877,699
29.3%
$167
$199
19.2%
81
23
-71.6%
$1,900,000
$3,800,000
100.0%
63
88
39.7%
98.9%
100.8%
1.9%
2020
2021
% Change
$747,609
$994,771
33.1%
$226
$234
3.5%
45
35
-22.2%
$1,100,000
$1,800,000
63.6%
23
19
-17.4%
98.3%
99.4%
1.1%
42.6% The number of properties sold in the neighborhood of Cordera increased by 42.6% January through June 2021 compared to that of 2020.
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 $400s to custom homes in the millions, there’s something for everyone.
63.6% The highest price in the neighborhood
of Kissing Camels increased by 63.6% January through June 2021 compared to that of 2020.
KISSING CAMELS
January through June
2021
FLYING HORSE
January through June
2020
CORDERA
January through June
MOUNTAIN SHADOWS OLD NORTH END/PATTY JEWETT
PEREGRINE
Mountain Shadows is a unique neighborhood developed directly in the foothills, backing up to the Rocky Mountains. Its located off of Centennial Boulevard and Flying W Ranch Road, just minutes from Garden of the Gods.
32.5%
January through June
2020
2021
% Change
$532,229
$616,504
15.8%
$158
$180
13.9%
44
34
-22.7%
$910,000
$1,265,000
39.0%
43
43
-
% Sold Price to List Price
99.7%
102.0%
2.3%
January through June
2020
2021
% Change
$492,265
$621,713
26.3%
$222
$282
27.0%
23
14
-39.1%
$1,100,000
$2,400,000
118.2%
40
53
32.5%
99.4%
103.8%
4.4%
2020
2021
% Change
$606,088
$842,788
39.1%
$147
$182
23.8%
30
9
-70.0%
$800,000
$1,295,000
61.9%
26
26
-
99.7%
104.4%
4.7%
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
The number of properties sold in Old North
Highest Price
End/Patty Jewett increased by 32.5%
Properties Sold
January through June 2021 compared to that of 2020.
% Sold Price to List Price
January through June Average Price 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
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
January through June
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
$625,830
$668,976
6.9%
$143
$169
18.2%
31
12
-61.3%
$1,600,000
$1,073,000
-32.9%
44
44
-
99.2%
101.5%
2.3%
2020
2021
% Change
$700,199
$792,890
13.2%
$169
$194
14.8%
46
18
-60.9%
$1,038,276
$969,000
-6.7%
32
31
-3.1%
99.6%
101.5%
1.9%
2020
2021
% Change
$599,078
$780,046
30.2%
$179
$219
22.3%
25
15
-40.0%
$2,200,000
$2,600,000
18.2%
36
45
25.0%
99.7%
100.5%
0.8%
61.3% The average days on market in Pine Creek decreased by 61.3% January through June 2021 compared to that of 2020.
22.3%
The average price per square foot in
Skyway inecreased by 22.3% January through June 2021 compared to that of 2020.
SKYWAY
Average Price
2021
SANCTUARY POINTE/FOX RUN
January through June
2020
PINE CREEK
January through June
WOLF RANCH WOODMOOR
79.6% The average days on market in the
neighborhood of Wolf Ranch decreased
January through June Average Price Average Price per Square Foot Average Days on Market Highest Price
by 76.9% January through June 2021
Properties Sold
compared to that of 2020.
% Sold Price to List Price
24.8% The average price per square foot in the neighborhood of Woodmoor increased by 24.8% January through June 2021 compared to that of 2020.
January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
$486,600
$566,179
16.4%
$140
$165
17.9%
52
12
-76.9%
$635,294
$726,102
14.3%
99
102
3.0%
99.8%
102.6%
2.8%
2020
2021
% Change
$542,258
$660,151
21.7%
$149
$186
24.8%
35
11
-68.6%
$739,000
$1,050,000
42.1%
96
105
9.4%
99.7%
103.2%
3.5%
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 - JUNE 2021 • COLORADOMICROREPORTS.COM