Colorado Springs Micro Market Report | Quarter 1 2021

Q1 2021

Micro Market Report COLORADO SPRINGS

16 Lake Avenue

1990 Fox Mountain Point

Colorado Springs MARKET UPDATE

The demand for Colorado Springs is here to stay.

Consistently ranked as one of the hottest zip codes and top places to live, Colorado Springs is drawing in interested buyers for numerous reasons including an abundance of nearby recreation, top-rated schools, job opportunities, and many of the same big-city attractions that Denver Metro offers. From the incredible restaurants crafted by award-winning chefs to the highly acclaimed outdoor adventures like Garden of the Gods, this area has something for everyone to enjoy.

What makes Colorado Springs a sought-after locale are the typically larger home lots at a lower price than the nearby Denver Metro. LIV Sotheby’s International Realty produces a Micro Market Report focused on the Colorado Springs real estate market, analyzing Q1 2021 performance compared to the same timeframe in 2020. El Paso County, where Colorado Springs is located, showed a clear increase in demand with a 17.8% increase in average price. The strength of demand is even more notable when the 53.6% decrease in average days on market is considered.

For the County as a whole, homes sat on the market for an average of just 13 days. The number of new listings coming onto the market decreased this year compared to Q1 of 2020 by 5.9% resulting in 3,556 new homes listed so far this year. This increase in performance led to a 19.4% rise in the total dollar volume sold.

in average days on market. Broadmoor reported an impressive 30.1% increase in average price, landing the average price for Q1 of 2021 at $907,070.

Regarding the decrease in average days on market, Woodmoor showed a significant 73.3% decrease resulting in homes staying on the market for only 12 days so far this year.

Full of historic charm, Colorado Springs continues to garner interest from potential buyers. Sellers are seeing the rewards of this interest, but the great news is that buyers still have plenty of opportunities to find their Colorado Springs home.

EL PASO COUNTY January through March

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 Total Dollar Volume Sold

Across the 14 communities included in this report, the majority showed similar trends in performance with increases in average price coupled with decreases

Based on Information from REColorado. This representation is based in whole or in part on data supplied by REColorado. REColorado does not guarantee nor is in any way responsible for its accuracy. Data maintained by REColorado may not reflect all real estate activity in the market.

coloradomicroreports.com

COLORADO SPRINGS NEIGHBORHOODS

1. Broadmoor

5. Flying Horse

9. Peregrine

13. Wolf Ranch

2. Broadmoor Bluffs/The Spire

6. Kissing Camels

10. Pine Creek

14. Woodmoor

3. Broadmoor Resort

7. Mountain Shadows

11. Sanctuary Pointe/Fox Run

4. Cordera

8. Old North End/Patty Jewett

12. Skyway

14

11

5

10

4 13

9

7

6

8

12 1 3 2

MICROMARKET REPORT | Colorado Springs livsothebysrealty.com

JANUARY - MARCH 2021 • COLORADOMICROREPORTS.COM

The number of properties sold in the neighborhood of Broadmoor increased by 26.9% January through March 2021 compared to that of 2020.

BROADMOOR RESORT

BROADMOOR BLUFFS/THE SPIRES

BROADMOOR

26.9%

January through March

2020

2021

% Change

$697,464

$907,070

30.1%

$182

$218

19.8%

69

36

-47.8%

$2,200,000

$2,875,000

30.7%

52

66

26.9%

% Sold Price to List Price

98.4%

99.4%

1.0%

January through March

2020

2021

% Change

$669,151

$778,500

16.3%

$164

$185

12.8%

88

26

-70.5%

$985,000

$1,291,000

31.1%

22

18

-18.2%

98.1%

99.4%

1.3%

2020

2021

% Change

$988,500

$2,331,667

135.9%

$190

$242

27.4%

132

34

-74.2%

$1,154,000

$2,875,000

149.1%

4

3

-25.0%

95.1%

97.6%

2.6%

Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold

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

149.1%

January through March Average Price Average Price per Square Foot Average Days on Market

The highest price in the Broadmoor

Highest Price

Resort area increased by 149.1% January

Properties Sold

through March 2021 compared to that of 2020.

% Sold Price to List Price

2021

% Change

$568,903

$617,362

8.5%

$158

$168

6.3%

68

20

-70.6%

70.6%

$1,000,000

$812,500

-18.8%

The average days on market in the

26

30

15.4%

% Sold Price to List Price

99.8%

101.2%

1.4%

January through March

2020

2021

% Change

$664,140

$825,148

24.2%

$165

$180

9.1%

106

47

-55.7%

$939,000

$1,969,300

109.7%

32

28

-12.5%

98.5%

99.5%

1.0%

2020

2021

% Change

$574,360

$796,500

38.7%

$215

$218

1.4%

22

25

13.6%

$1,100,000

$812,500

-26.1%

15

4

-73.3%

of Kissing Camels increased by 38.7%

98.4%

100.3%

1.9%

January through March 2021 compared

Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold

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

compared to that of 2020.

38.7% The average price in the neighborhood

to that of 2020.

KISSING CAMELS

January through March

by 70.6% January through March 2021

FLYING HORSE

Average Price

neighborhood of Cordera decreased

CORDERA

2020

January through March

MOUNTAIN SHADOWS OLD NORTH END/PATTY JEWETT

PEREGRINE

11.8% The average price per square foot in the

January through March Average Price Average Price per Square Foot Average Days on Market

2020

2021

% Change

$556,549

$551,215

-1.0%

$152

$170

11.8%

65

85

30.8%

$845,450

$850,000

0.5%

16

15

-6.3%

area of Mountain Shadows increased

Highest Price

by 11.8% January through March 2021

Properties Sold

compared to that of 2020.

% Sold Price to List Price

99.8%

101.9%

2.1%

January through March

2020

2021

% Change

$556,549

$621,256

11.6%

$152

$268

76.3%

65

21

-67.7%

$845,450

$1,333,000

57.7%

16

23

43.8%

99.8%

101.4%

1.6%

2020

2021

% Change

$566,863

$869,900

53.5%

$137

$178

29.9%

45

25

-44.4%

$660,000

$986,000

49.4%

8

5

-37.5%

98.9%

100.4%

1.5%

67.7%

Average Price Average Price per Square Foot Average Days on Market

The average days on market in Old North

Highest Price

End/Patty Jewett decreased by 67.7%

Properties Sold

January through March 2021 compared to that of 2020.

% Sold Price to List Price

January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

PINE CREEK

January through March

% Change

$624,324

$647,897

3.8%

$139

$158

13.7%

33

13

-60.6%

$1,600,000

$811,500

-49.3%

19

15

-21.1%

% Sold Price to List Price

99.4%

100.4%

1.0%

January through March

2020

2021

% Change

$701,289

$776,731

10.8%

$171

$185

8.2%

51

45

-11.8%

$1,100,000

$874,900

-20.5%

The average price in the neighborhood

16

8

-50.0%

of Sanctuary Pointe/Fox Run increased

99.7%

100.0%

0.3%

2020

2021

% Change

$675,427

$639,557

-5.3%

$185

$193

4.3%

38

25

-34.2%

$2,200,000

$639,557

-70.9%

The number of properties sold in Skyway

15

22

46.7%

inecreased by 46.7% January through

99.2%

99.1%

-0.1%

Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold

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

January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

10.8% by 10.8% January through March 2021 compared to that of 2020.

46.7% March 2021 compared to that of 2020.

SKYWAY

2021

SANCTUARY POINTE/FOX RUN

2020

WOLF RANCH WOODMOOR

80.6% The average days on market in the neighborhood of Wolf Ranch decreased by 80.6% January through March 2021 compared to that of 2020.

January through March

2020

2021

% Change

$476,467

$561,550

17.9%

$139

$155

11.5%

67

13

-80.6%

$649,950

$725,000

11.5%

48

29

-39.6%

% Sold Price to List Price

99.6%

101.0%

1.4%

January through March

2020

2021

% Change

$547,508

$609,171

11.3%

$143

$169

18.2%

45

12

-73.3%

$739,000

$1,050,000

42.1%

38

34

-10.5%

99.8%

101.6%

1.8%

Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold

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

MICROMARKET REPORT | Colorado Springs JANUARY - MARCH 2021 • COLORADOMICROREPORTS.COM