YEAR-END 2021
Micro Market Report COLORADO SPRINGS
19819 Glen Shadows Drive
17675 State Highway 83
Colorado Springs MARKET UPDATE
With ample opportunities to explore some of the state’s most spectacular natural spaces, as well as a lively downtown scene with delicious restaurants and exciting entertainment options, Colorado Springs is easily one of the best communities in the Front Range. Throughout 2021, Colorado Springs has enjoyed steady buying and selling activity that proves that this dynamic and fastgrowing area 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, within El Paso County, and its performance during 2021 in comparison to 2020. The total dollar volume sold in Colorado Springs grew by 27% last year, totaling $7,670,778,072. The number of properties sold also rose during 2021, increasing by 3.5% to reach a total of 15,607 homes sold. Looking at individual neighborhoods within Colorado Springs, several documented areas experienced increases in the number of homes sold last year compared to 2020. The Broadmoor neighborhood, named for the famous Broadmoor Hotel and known for its luxury lifestyle and stately residences, saw the number of homes sold increase by 6.5% to reach a total of 294 listings sold last year. The Old North End/Patty Jewett and Cordera neighborhoods also saw an uptick in homes sales last year, growing by 5.7% and 3.7% respectively. Many areas, however, had fewer sales primarily due to fewer homes available for purchase. On the other hand, unit sales in El Paso County were up for the year, indicating buyers’ willingness to purchase properties where there was available housing supply. Several communities within The Pikes Peak Region experienced increases in average home prices as well. An excellent example of this was seen in Woodmoor, in Monument. Homes in this neighborhood appreciated in price by 20.5% – bringing the average price to $688,765 during 2021. Even larger price growth was found in the Broadmoor Resort neighborhood, where the average
home price rose by 38.5% to reach $1,904,212. An example of a more affordable area within Colorado Springs is Wolf Ranch, where the average price for homes was $593,403 in 2021. As more homebuyers decided to invest in their ideal lifestyle by moving to Colorado Springs, the average days on market in several neighborhoods decreased as the pace of the market accelerated. In Pine Creek, a golf course neighborhood with captivating views of the Front Range, homes sold 54.2% faster last year compared to 2020, spending an average of 11 days on the market. The Broadmoor Bluff/The Spires area also experienced a significant reduction in average days on market, decreasing from 46 days in 2020 to 24 days in 2021 – a 47.8% 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.
COLORADO SPRINGS January through December
2020
2021
% Change
New Listings
16,104
16,663
3.5%
Sold Listings (All Properties)
15,070
15,607
3.6%
$400,555
$491,496
22.7%
19
10
-47.4%
100.8%
103.2%
2.4%
$6,036,363,850
$7,670,778,072
27.1%
Average Price Average Days on Market % Sold Price to Original List Price Total Dollar Volume Sold
Counties: El Paso
Based on information from the Pikes Peak REALTOR® Services Corp. (“RSC”), for the period January 1st, 2021 - December 31st, 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
MICRO MARKET REPORT | Colorado Springs livsothebysrealty.com
JANUARY - DECEMBER 2021 • COLORADOMICROREPORTS.COM
BROADMOOR BROADMOOR BLUFFS/THE SPIRES
BROADMOOR RESORT
January through December Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
47.8% The average days on market in Broadmoor Bluffs/The Spires decreased by 47.8% in 2021 compared to that of 2020.
January through December Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
January through December Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
$770,737
$1,001,576
30.0%
$189
$228
20.6%
49
30
-38.8%
$2,900,000
$8,000,000
175.9%
276
294
6.5%
98.2%
100.2%
2.0%
2020
2021
% Change
$731,475
$848,812
16.0%
$164
$195
18.9%
46
24
-47.8%
$1,500,000
$2,300,000
53.3%
101
104
3.0%
98.7%
101.8%
3.1%
2020
2021
% Change
$1,374,463
$1,904,212
38.5%
$216
$272
25.9%
120
60
-50.0%
$2,750,000
$3,450,000
25.5%
20
17
-15.0%
94.9%
97.6%
2.8%
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
$589,437
$675,102
14.5%
$158
$180
13.9%
41
25
-39.0%
$1,007,749
$990,900
-1.7%
161
167
3.7%
99.6%
101.3%
1.7%
2020
2021
% Change
$682,126
$859,667
26.0%
$165
$202
22.4%
62
20
-67.7%
$2,650,000
$3,800,000
43.4%
190
159
-16.3%
99.2%
100.5%
1.3%
2020
2021
% Change
$855,740
$1,151,364
34.5%
$239
$296
23.8%
45
36
-20.0%
$2,750,000
$3,800,000
38.2%
50
37
-26.0%
96.9%
99.5%
2.7%
39.0% The average days on market in Cordera decreased by 39.0% in 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 December
2021
FLYING HORSE
January through December
2020
CORDERA
January through December
PEREGRINE
January through December 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 December Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
32.1% The average price in Peregrine increased by 32.1% in 2021 compared to that of 2020.
January through December Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
$554,212
$620,827
12.0%
$160
$188
17.5%
52
22
-57.7%
$960,000
$1,265,000
31.8%
103
97
-5.8%
99.5%
102.1%
2.6%
2020
2021
% Change
$544,028
$644,039
18.4%
$227
$288
26.9%
24
14
-41.7%
$1,171,500
$2,400,000
104.9%
105
111
5.7%
99.5%
103.0%
3.5%
2020
2021
% Change
$640,010
$845,565
32.1%
$152
$182
19.7%
34
17
-50.0%
$1,295,000
$1,295,000
0.0%
68
51
-25.0%
99.1%
102.9%
3.8%
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 December
Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
$641,001
$728,859
13.7%
$151
$176
16.6%
24
11
-54.2%
$1,600,000
$2,505,000
56.6%
114
96
-15.8%
99.5%
101.8%
2.3%
2020
2021
% Change
$714,199
$837,093
17.2%
$174
$201
15.5%
49
21
-57.1%
$1,100,000
$1,330,000
20.9%
75
64
-14.7%
99.8%
100.9%
1.1%
2020
2021
% Change
$587,641
$821,269
39.8%
$185
$221
19.5%
28
18
-35.7%
$2,200,000
$4,376,000
98.9%
100
102
2.0%
99.4%
101.5%
2.1%
56.6% The highest sale price in Pine Creek increased by 56.6% in 2021 compared to that of 2020.
39.8% The average price in Skyway increased by 39.8% in 2021 compared to that of 2020.
SKYWAY
Average Price
2021
SANCTUARY POINTE/FOX RUN
January through December
2020
PINE CREEK
January through December
WOLF RANCH WOODMOOR
47.2%
The average days on market in Wolf Ranch decreased by 47.2% in 2021 compared to that of 2020.
January through December Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
26.8% The average price per square foot in
Woodmoor increased by 26.8% in 2021 compared to that of 2020.
January through December Average Price Average Price Per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2020
2021
% Change
$513,683
$593,403
15.5%
$144
$168
16.7%
72
38
-47.2%
$754,208
$920,375
22.0%
305
278
-8.9%
99.9%
101.8%
1.9%
2020
2021
% Change
$571,672
$688,765
20.5%
$153
$194
26.8%
26
13
-50.0%
$995,000
$1,275,000
28.1%
253
220
-13.0%
99.9%
102.7%
2.8%
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 - DECEMBER 2021 • COLORADOMICROREPORTS.COM