QUARTER 2 2022
Micro Market Report COLORADO SPRINGS
1343 Castlecombe Lane
114 North Kathy Lane
Colorado Springs
COLORADO SPRINGS NEIGHBORHOODS
MARKET UPDATE
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
Colorado Springs is Colorado’s second-largest city and one of the most popular real estate destinations in the state. This culturally rich community offers a diverse range of entertainment options from outdoor recreation to exciting restaurants, a lively art scene, shopping centers, and more. Thanks to its unique lifestyle, urban amenities, outdoor adventures, and slightly more space and affordable housing, this community remains a strong market in which both buyers and sellers can reach their goals. 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 2022 in comparison to the same period of time in 2021. The total dollar volume sold in El Paso County rose by 14% through June of this year, totaling $3,829,444,870. This active real estate market provided 14.7% more new listings for homebuyers to choose from during the first half of the year. Although the number of real estate sales dipped slightly by 0.6%, those homes that did sell sold for 14.6% more than they did in January through June of 2021, making the average sale price for local homes $544,729. Similar real estate trends were seen throughout the individual neighborhoods within the Colorado Springs community. Home values appreciated the most significantly in the Kissing Camels and Broadmoor neighborhoods where the average sale prices rose by 32.6% and 23.9% respectively. The area with the highestpriced homes through Q2 of this year was Broadmoor Resort, where the average sale price of homes was $2,005,083—a 7.1% increase from the previous year. The most affordable homes in Colorado Springs were found in Wolf Ranch where the average sale price was $676,118 through June.
increases in home sales—rising by 45.1% from 102 homes sold through Q2 of last year to 148 homes sold so far this year. Kissing Camels also experienced heightened buying activity with a 10.5% increase in homes sold.
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The speed of the market varied across the individual communities within Colorado Springs. In the Broadmoor Bluffs/ Spire neighborhood home spent an average of just eight days on the market, which is 52.9% less time than last year. Homes in the Flying Horse neighborhood spent the most time on the market during the first half of the year, spending an average of 224 days on the market.
5
10
4 13
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.
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7
6
8
COLORADO SPRINGS January through June
2021
2022
% Change
New Listings
8,540
9,793
14.7%
Sold Listings (All Properties)
7,069
7,030
-0.6%
$475,170
$544,729
14.6%
10
9
-10.0%
103.8%
103.1%
9832.6%
$3,358,976,730
$3,829,444,870
14.0%
Average Price Average Days on Market % Sold Price to Original List Price Total Dollar Volume Sold
12 1 3 2
Some neighborhoods within Colorado Springs experienced notable increases in the number of homes sold through June of this year compared to the same time frame in 2021. The Wolf Ranch neighborhood saw one of the largest Based on information from the Pikes Peak REALTOR® Services Corp. (“RSC”), for the period January 1st, 2022 - June 30th, 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.
MICRO MARKET REPORT | Colorado Springs coloradomicroreports.com
livsothebysrealty.com
JANUARY - JUNE 2022 • COLORADOMICROREPORTS.COM
BROADMOOR BROADMOOR BLUFFS / THE SPIRES
Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
52.9%
The average number of days on market in
Broadmoor Bluffs/The Spires decreased by 52.9% in the first half of 2022 compared to that of 2021.
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
% Change
January through June
$932,365
$1,155,330
23.9%
$229
$248
8.3%
30
38
26.7%
Average Days on Market
$2,875,000
$3,500,000
21.7%
Highest Price
150
88
-41.3%
99.7%
100.2%
0.5%
2021
2022
% Change
$834,506
$928,700
11.3%
$195
$213
9.2%
17
8
-52.9%
$1,299,000
$1,295,000
-0.3%
52
25
-51.9%
102.2%
101.4%
-0.8%
2021
2022
% Change
$1,872,250
$2,005,083
7.1%
$254
$261
2.8%
39
167
328.2%
$2,875,000
$3,500,000
21.7%
8
6
-25.0%
96.8%
90.0%
-7.0%
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
January through June Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2021
2022
% Change
$662,803
$781,906
18.0%
$177
$207
16.9%
16
19
18.8%
$990,900
$1,248,642
26.0%
87
94
8.0%
101.6%
100.9%
-0.7%
2021
2022
% Change
$877,699
$952,887
8.6%
$199
$224
12.6%
23
24
4.3%
$3,800,000
$1,992,500
-47.6%
88
70
-20.5%
100.8%
100.8%
0.0%
2021
2022
% Change
$994,771
$1,319,428
32.6%
$234
$378
61.5%
35
64
82.9%
$1,800,000
$4,390,265
143.9%
19
21
10.5%
99.4%
106.50%
7.1%
18.0%
The average home sale price in Cordera
increased by 18.0% in the first half 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
January through June
2022
FLYING HORSE
BROADMOOR RESORT
Average Price
2021
CORDERA
January through June
Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
OLD NORTH END/PATTY JEWETT
MOUNTAIN SHADOWS
Average Price
January through June Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
The average days on market in Peregrine decreased by 56.0% in the first half 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
2022
% Change
January through June
$616,504
$727,400
18.0%
Average Price
$180
$209
16.1%
Average Price Per Square Foot
34
23
-32.4%
Average Days on Market
$1,265,000
$1,102,500
-12.8%
Highest Price
43
30
-30.2%
Properties Sold
102.0%
101.4%
-0.6%
2021
2022
% Change
$621,713
$678,557
9.1%
$282
$316
12.1%
14
11
-21.4%
Average Days on Market
$2,400,000
$1,425,000
-40.6%
Highest Price
53
47
-11.3%
Properties Sold
103.8%
103.6%
-0.2%
% Sold Price to List Price
2021
2022
% Change
$842,788
$903,900
7.3%
$182
$208
14.3%
Average Price Per Square Foot
9
10
11.1%
Average Days on Market
$1,295,000
$1,200,000
-7.3%
Highest Price
26
12
-53.8%
104.4%
103.2%
-1.1%
% Sold Price to List Price
January through June Average Price Average Price Per Square Foot
January through June Average Price
Properties Sold % Sold Price to List Price
2021
2022
% Change
$668,976
$750,305
12.2%
$169
$202
19.5%
12
7
-41.7%
$1,073,000
$1,115,000
3.9%
44
33
-25.0%
101.5%
103.2%
1.7%
2021
2022
% Change
$792,890
$962,392
21.4%
$194
$240
23.7%
18
13
-27.8%
$969,000
$1,445,000
49.1%
31
27
-12.9%
101.5%
104.4%
2.9%
2021
2022
% Change
$780,046
$713,197
-8.6%
$219
$254
16.0%
15
13
-13.3%
$2,600,000
$1,300,000
-50.0%
45
35
-22.2%
100.5%
101.5%
1.0%
41.7%
The average number of days on market in Pine Creek decreased by 41.7% in the first half of 2022 compared to that of 2021.
16.0%
The average price per square foot in
Skyway increased by 16.0% in the first half of 2022 compared to that of 2021.
SKYWAY
56.0%
January through June
2021
SANCTUARY POINTE / FOX RUN
PEREGRINE
January through June
PINE CREEK
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.
WOLF RANCH WOODMOOR
45.1%
The number of properties sold in Wolf Ranch increased by 45.1% in the first half of 2022 compared to that of 2021.
22.5%
January through June 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 Average Price Per Square Foot Average Days on Market
The average sale price in Woodmoor
Highest Price
increased by 22.5% in the first half of
Properties Sold
2022 compared to that of 2021.
% Sold Price to List Price
2021
2022
% Change
$566,179
$676,118
19.4%
$165
$199
20.6%
12
52
333.3%
$726,102
$940,000
29.5%
102
148
45.1%
102.6%
102.1%
-0.5%
2021
2022
% Change
$660,151
$808,442
22.5%
$186
$220
18.3%
11
11
0.0%
$1,050,000
$1,350,000
28.6%
105
96
-8.6%
103.2%
103.5%
0.3%
in your happy place The definition of paradise depends on your point of view. Find a home that makes each day more extraordinary than the last with LIV Sotheby’s International Realty.
719.578.8800 | livsothebysrealty.com
WHY COLORADO?
04
NATIONAL PARKS
07
MOUNTAIN RANGES
28
SKI AREAS & RESORTS
300
AVG DAYS OF SUNSHINE ANNUALY
350+ CRAFT BREWERIES
MICRO MARKET REPORT | Colorado Springs JANUARY - JUNE 2022 • COLORADOMICROREPORTS.COM