Colorado Springs Micro Market Reports | Quarter 3 2021

Q3 2021

Micro Market Report COLORADO SPRINGS

2180 Mulligan Drive

4945 Saxton Hollow Road

Colorado Springs MARKET UPDATE

Filled with opportunities for outdoor adventure and plenty of community culture to embrace, there is always something new to explore in Colorado Springs. While this collection of neighborhoods within El Paso County has always been a great place to live, it has recently become one of the hottest places to shop for homes thanks to its rural spaces, urban amenities, and greater affordability than Denver. Throughout 2021, Colorado Springs has enjoyed steady buying and selling activity that proves this community is as attractive to consumers as it is beautiful.

LIV Sotheby’s International Realty produces a Micro Market Report focused on the Colorado Springs market and its performance through Q3 of 2021 in comparison to the same period of time in 2020. The total dollar volume sold in Colorado Springs grew by an amazing 19.4% through September of this year, totaling $1,280,793,241.

Although slightly fewer homes (-5.9%) came onto the market through Q3 of this year, the number of sold listings rose in El Paso County. The number of sold listings reached a total of 2,821 through September – a 1.4% increase and the price of those sold homes rose by 17.8%, bringing the average price to $454,021.

Looking at individual neighborhoods within Colorado Springs, several areas experienced notable increases in the number of homes sold through September of this year compared to the same time frame in 2020. The Broadmoor neighborhood, named for the famous Broadmoor resort and known for its luxury lifestyle, saw the number of homes sold increase by 37.9% to reach a total of 273 listings sold so far this year. The Skyway and Cordera neighborhoods also saw an uptick in home sales this year, growing by 11.9% and 11.8%, respectively.

an average price of $620,799. The average price for a home in Broadmoor was $973,804 through Q3 of this year – a 28.2% increase. Flying Horse also saw a notable increase in home prices, rising by 30.4%, which brought the average price of a home in the area to $869,910 through September.

With more consumers considering Colorado Springs in their search for the perfect Colorado residence, the number of days that homes in this community spent on the market have decreased significantly. In Pine Creek, a golf course neighborhood with captivating views of the Front Range, homes sold 67.7% faster through September of this year compared to the same time frame last year, spending an average of 10 days on the market. The Broadmoor resort area experienced an even more significant reduction in average days on market, decreasing from 150 days to 45 days – a 70% decrease.

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.

EL PASO COUNTY January through September

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

Several communities within Colorado Springs experienced increases in average home prices as well. Homes in the Old North End/Patty Jewett neighborhood sold for 15.8% more through September of this year compared to January through September in 2020. Homes in this area sold for

Total Dollar Volume Sold

Based on information from the Pikes Peak REALTOR® Services Corp. (“RSC”), for the period January 1, 2021 - September 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 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

MICROMARKET REPORT | Colorado Springs livsothebysrealty.com

JANUARY - SEPTEMBER 2021 • COLORADOMICROREPORTS.COM

BROADMOOR BROADMOOR BLUFFS/THE SPIRES

BROADMOOR RESORT

January through September Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

53.3% The highest price in Broadmoor Bluffs/The Spires increased by 53.3% January through September 2021 compared to that of 2020.

January through September Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

January through September Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2020

2021

% Change

$759,646

$973,804

28.2%

$185

$227

22.7%

63

29

-54.0%

$2,750,000

$4,376,000

59.1%

198

273

37.9%

98.7%

99.4%

0.7%

2020

2021

% Change

$740,321

$839,130

13.3%

$166

$193

16.3%

75

23

-69.3%

$1,500,000

$2,300,000

53.3%

77

88

14.3%

99.3%

101.8%

2.5%

2020

2021

% Change

$1,408,703

$2,087,091

48.2%

$219

$274

25.1%

150

45

-70.0%

$2,750,000

$3,450,000

25.5%

16

11

-31.3%

95.2%

96.8%

1.7%

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

$576,667

$667,117

15.7%

$155

$178

14.8%

53

25

-52.8%

$1,007,749

$990,900

-1.7%

119

133

11.8%

99.4%

101.2%

1.8%

2020

2021

% Change

$667,055

$869,910

30.4%

$162

$203

25.3%

79

21

-73.4%

$1,900,000

$3,800,000

100.0%

143

132

-7.7%

99.2%

100.5%

1.3%

2020

2021

% Change

$813,667

$1,009,935

24.1%

$228

$254

11.4%

52

37

-28.8%

$1,639,500

$1,800,000

9.8%

45

29

-35.6%

97.0%

98.8%

1.9%

52.8% The average days on market in Cordera decreased by 52.8% January through September 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 $400Ks to custom homes in the millions, there’s something for everyone.

KISSING CAMELS

January through September

2021

FLYING HORSE

January through September

2020

CORDERA

January through September

PEREGRINE

January through September Average Price 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

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.

January through September Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

33.7% The average price in Peregrine increased by 33.7% January through September 2021 compared to that of 2020.

January through September Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2020

2021

% Change

$555,399

$609,760

9.8%

$159

$187

17.6%

57

25

-56.1%

$910,000

$1,265,000

39.0%

77

76

-1.3%

99.8%

101.2%

1.4%

2020

2021

% Change

$536,283

$620,799

15.8%

$227

$285

25.6%

31

13

-58.1%

$1,171,500

$2,400,000

104.9%

74

88

18.9%

99.3%

103.0%

3.7%

2020

2021

% Change

$632,975

$846,553

33.7%

$151

$181

19.9%

33

13

-60.6%

$1,175,000

$1,175,000

0.0%

56

38

-32.1%

99.1%

103.5%

4.4%

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 September

Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

% Change

$650,024

$706,846

8.7%

$150

$173

15.3%

31

10

-67.7%

$1,600,000

$2,505,000

56.6%

86

76

-11.6%

99.3%

101.9%

2.6%

2020

2021

% Change

$698,549

$832,400

19.2%

$172

$199

15.7%

69

18

-73.9%

$1,100,000

$1,330,000

20.9%

56

49

-12.5%

99.3%

101.1%

1.8%

2020

2021

% Change

$567,304

$883,041

55.7%

$182

$193

6.0%

28

16

-42.9%

$2,200,000

$4,376,000

98.9%

67

75

11.9%

99.1%

101.7%

2.6%

67.7% The average days on market in Pine Creek decreased by 67.7% January through September 2021 compared to that of 2020.

98.9% The highest priced sale in Skyway increased by 98.9% January through September 2021 compared to that of 2020.

SKYWAY

Average Price

2021

SANCTUARY POINTE/FOX RUN

January through September

2020

PINE CREEK

January through September

WOLF RANCH WOODMOOR

71.0%

The average days on market in Wolf

Ranch decreased by 71.0% January

January through September Average Price Average Price Per Square Foot Average Days on Market Highest Price

2020

2021

% Change

$500,340

$575,669

15.1%

$142

$167

17.6%

62

18

-71.0%

$707,000

$750,000

6.1%

195

170

-12.8%

through September 2021 compared to

Properties Sold

that of 2020.

% Sold Price to List Price

99.7%

102.0%

2.3%

January through September

2020

2021

% Change

$560,448

$677,778

20.9%

$151

$193

27.8%

30

11

-63.3%

$895,000

$1,055,000

17.9%

194

171

-11.9%

99.7%

103.0%

3.3%

27.8%

The average price per square foot in

Woodmoor increased by 27.8% January through September 2021 compared to that of 2020.

Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % 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 - SEPTEMBER 2021 • COLORADOMICROREPORTS.COM