COLORADO SPRINGS LUXURY MARKET

Located just an hour south of Denver, Colorado Springs is a city that combined the very best of natural beauty and an exciting urban lifestyle. LIV Sotheby’s International Realty reports that there was a 21.9% increase in the number of luxury homes sold within El Paso and Teller County in 2022 compared to 2021. There were 523 high-end homes sold in these counties. The average sale price of those homes decreased by 3.6% which brought the average sale price to $1,379,473 for the area.

Looking at the quantity of luxury real estate sales within the various communities that make up Colorado Springs, the most dramatic increase was seen in Kissing Camels where luxury home sales rose from 19 sales through 2021 to 27 sales this year—a 42.1% increase. The Black Forest neighborhood had the second-highest number of luxury home sales with a total of 115 homes sold for more than $1,000,000.

In some areas, the average sale price for luxury homes rose as well. High-end homes in the Monument community sold for a 5.8% higher price during January through December of 2022 compared to 2021. Homes here sold for an average price of $1,350,402.

While the average days on market for both El Paso and Teller County was 41 days on market in 2022, some individual neighborhoods experienced even faster market speeds. For example, luxury homes in Monument remained on the market for an average of just 30 days through December–18.9% decrease.

30.9%

The total dollar volume in Black Forest increased by 30.9% in 2022 compared to that of 2021.

38.2%

The number of properties sold in Flying Horse increased by 38.2% in 2022 compared to that of 2021.

47.0%

The total dollar volume in Monument increased by 47.0% in the first half of 2022 compared to that of 2021.