Colorado Springs Micro Market Reports | Year End 2021

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