Colorado Springs | Quarter 2, 2022

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.

14

11

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.

9

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