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