Colorado Springs, Colorado Year End 2020 Micro Market Report

MICROMARKET REPORT

COLORADO SPRINGS | YEAR END 2020

COLORADO SPRINGS NEIGHBORHOODS 1. Broadmoor

14

2. Broadmoor Bluffs/Spires 3. Broadmoor Resort

11

4. Cordera 5. Flying Horse 5

6. Kissing Camels 7. Mountain Shadows 10

8. Old North End/Patty Jewett

4 13

9. Peregrine

9

10. Pine Creek 11. Sanctuary Pointe/Fox Run

7

12. Skyway

6

13. Wolf Ranch

8

14. Woodmoor 12 1 3 2

Pictured on cover: 1215 Kylie Heights, Woodland Park

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COLORADO SPRINGS MARKET UPDATE In 2020, Colorado Springs made numerous lists as one of the most sought-after areas to live in the country, and with good reason. With home prices lower than the average price in Denver, Colorado Springs offers many of the same bigcity attractions at a lower cost. Plus, Colorado Springs features a plethora of job opportunities, a focus on great schools, and enough outdoor activities to keep any adventurer satisfied.

Last year reshaped many areas of focus for us, including a focus on lifestyle and where we call home. Real estate performance in Colorado Springs for 2020, compared to 2019, prove that this area is a hot commodity for many buyers because of the ideal amenities out your backdoor.

LIV Sotheby’s International Realty produces a Micro Market Report focused on the Colorado Springs market and its performance of 2020 compared to 2019. El Paso County, where Colorado Springs is located, showed record performance and clear indicators of a competitive market. The total number of sold listings increased by 5.8%, eclipsing the record performance for unit sales in 2019. Time on market decreased by 32.1% and this demand returned a 9.6% January through December 2019 2020 % Change average price appreciation – showing an New Listings 16,172 16,104 -0.4% active market for buyers and a beneficial market for sellers.

Sold Listings (All Properties) 14,242 15,070 5.8%

EL PASO COUNTY

Average Price

$365,470

$400,555

9.6%

Several communities within Colorado Average Days on Market 28 19 -32.1% Springs showed similar results of increased % Sold Price to Original List Price 99.9% 100.8% 0.9% performance, with rises in average price coupled with decreases in average days Total Dollar Volume Sold $5,205,023,740 $6,036,363,850 16.0% on market. Kissing Camels presented the most impressive decrease in average days on market of 53.6%, decreasing from 97 days it took for a home to sell on average in 2019, to just 45 days in 2020. The highest increase in average price occurred in Pine Creek, where a 19.3% increase rose the average price from $537,172 in 2019 to $641,001 in 2020.

Large, secluded lots surged in popularity in 2020 and The Broadmoor Resort was proof: the total number of properties sold increased a dramatic 185.7% from seven homes being sold in 2019 to 20 homes sold last year. In addition, homes sold faster with a 24.5% decrease in average days on market and at a higher average price, with an increase of 6%.

Colorado Springs offers a lifestyle that is hard to beat and it’s evident that many people are flocking to this growing city.

The outdoor spaces, historic charm, and dining and entertainment options make this a great place to call home.

Based on information from the Pikes Peak REALTOR® Services Corp. (“RSC”), for the period January 1, 2019 - December 31, 2020. 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.

MICROMARKET REPORT | Colorado Springs livsothebysrealty.com

JANUARY - DECEMBER 2020 • COLORADOMICROREPORTS.COM

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

2019

2020

% Change

$677,872

$770,737

13.7%

$170

$189

11.2%

62

49

-21.0%

$2,900,000

$2,900,000

0.0%

255

276

8.2%

97.8%

98.2%

0.4%

9 Sequoyah Road, Colorado Springs

BROADMOOR BLUFFS/SPIRES January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2019

2020

% Change

$663,099

$731,475

10.3%

$157

$164

4.5%

73

46

-37.0%

$980,000

$1,500,000

53.1%

97

101

4.1%

98.9%

98.7%

-0.2%

185.7%

Stretching up the base of Cheyenne Mountain, this community offers several pocket neighborhoods with a variety of home sizes and prices.

BROADMOOR RESORT January through December Average Price Average Price per Square Foot Average Days on Market

The number of properties sold in the area of the

Highest Price

Broadmoor Resort increased by 185.7% January

Properties Sold

through December 2020 compared to that of 2019.

% Sold Price to List Price

2019

2020

% Change

$1,296,786

$1,374,463

6.0%

$187

$216

15.5%

159

120

-24.5%

$2,900,000

$2,750,000

-5.2%

7

20

185.7%

91.0%

94.9%

4.3%

coloradomicroreports.com

CORDERA January through December Average Price

2020

% Change

$576,687

$589,437

2.2%

$153

$158

3.3%

51

41

-19.6%

The average days on market in the neighborhood

$1,000,000

$1,007,749

0.8%

of Cordera decreased by 19.6% January through

152

161

5.9%

December 2020 compared to that of 2019.

99.7%

99.6%

-0.1%

Average Price per Square Foot Average Days on Market Highest Price

19.6%

2019

Properties Sold % Sold Price to List Price

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

2019

2020

% Change

$657,930

$682,126

3.7%

$156

$165

5.8%

81

62

-23.5%

$1,454,623

$2,650,000

82.2%

152

190

25.0%

98.9%

99.2%

0.3%

12795 Oak Cliff Way, Colorado Springs

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

2019

2020

% Change

$930,848

$855,740

-8.1%

$203

$239

17.7%

97

45

-53.6%

$1,975,000

$2,750,000

39.2%

38

50

31.6%

98.3%

96.9%

-1.4%

The original gated golf course neighborhood in Colorado Springs, Kissing Camels, sits on a mesa surrounding 27 holes of private golf course.

MICROMARKET REPORT | Colorado Springs livsothebysrealty.com

JANUARY - DECEMBER 2020 • COLORADOMICROREPORTS.COM

MOUNTAIN SHADOWS

35.5%

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

The number of properties sold in the neighborhood

Highest Price

of Mountain Shadows increased by 35.5% January

Properties Sold

through December 2020 compared to that of 2019.

% Sold Price to List Price

OLD NORTH END/PATTY JEWETT January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2019

2020

% Change

$505,250

$554,212

9.7%

$145

$160

10.3%

39

52

33.3%

$790,000

$960,000

21.5%

76

103

35.5%

99.6%

99.5%

-0.1%

This charming area has a

2019

2020

% Change

$477,577

$544,028

13.9%

to the 1800’s. People are

$214

$227

6.1%

drawn to the craftsmanship

25

24

-4.0%

and character of these

$1,280,000

$1,171,500

-8.5%

historic downtown homes

109

105

-3.7%

with mature trees and

98.4%

99.5%

1.1%

seasoned landscaping.

65.0%

rich history that dates back

PEREGRINE January through December Average Price Average Price per Square Foot Average Days on Market

The highest price for the neighborhood of Peregrine

Highest Price

increased by 65.0%, comparing January through

Properties Sold

December 2020 to 2019.

% Sold Price to List Price

2019

2020

% Change

$589,727

$642,437

8.9%

$138

$152

10.1%

44

38

-13.6%

$785,000

$1,295,000

65.0%

36

49

36.1%

98.9%

99.2%

0.3%

coloradomicroreports.com

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

2019

2020

% Change

$537,172

$641,001

19.3%

$137

$151

10.2%

40

24

-40.0%

$1,200,000

$1,600,000

33.3%

84

114

35.7%

99.4%

99.5%

0.1%

27.9% The average days on market in the neighborhood of Sanctuary Pointe/Fox Run decreased by 27.9% January through December 2020 compared to

Pine Creek is a golf course neighborhood that enjoys open spaces and fantastic views from an extremely convenient location near I-25 and the United States Air Force Academy.

SANCTUARY POINTE/FOX RUN January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

that of 2019.

2019

2020

% Change

$706,199

$714,199

1.1%

$172

$174

1.2%

68

49

-27.9%

$1,031,506

$1,100,000

6.6%

65

75

15.4%

99.9%

99.8%

-0.1%

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

2019

2020

% Change

$572,161

$587,641

2.7%

$169

$185

9.5%

34

28

-17.6%

$2,300,000

$2,200,000

-4.3%

87

100

14.9%

98.5%

99.4%

0.9%

1830 Preserve Drive, Colorado Springs

MICROMARKET REPORT | Colorado Springs livsothebysrealty.com

JANUARY - DECEMBER 2020 • COLORADOMICROREPORTS.COM

WOLF RANCH

Wolf Ranch is a vast-planned community with larger than

January through December

average lots, a private lake,

Average Price

and additional recreation

Average Price per Square Foot

center amenities residents

Average Days on Market

can add to their HOA

Highest Price

membership.

Properties Sold % Sold Price to List Price

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

2019

2020

% Change

$476,220

$504,721

6.0%

$133

$143

7.5%

79

39

-50.6%

$659,500

$707,000

7.2%

213

254

19.2%

99.2%

99.9%

0.7%

2019

2020

% Change

$528,366

$571,672

8.2%

$146

$153

4.8%

36

26

-27.8%

8.2%

$1,197,340

$995,000

-16.9%

The average price in the neighborhood of

193

253

31.1%

Woodmoor increased by 8.2% January through

99.0%

99.9%

0.9%

December 2020 compared to that of 2019.

coloradomicroreports.com

WHY COLORADO? NATIONAL PARKS: 4

MOUNTAIN RANGES: 7

SKI AREAS & RESORTS: 28

AVERAGE DAYS OF SUNSHINE ANNUALLY: 300

CRAFT BREWERIES: 350+

MICROMARKET REPORT | Colorado Springs livsothebysrealty.com

JANUARY - DECEMBER 2020 • COLORADOMICROREPORTS.COM

The life you love.

livsothebysrealty.com | coloradomicroreports.com Based on information from the Pikes Peak REALTOR® Services Corp. (“RSC”), for the period January 1, 2019 - December 31, 2020. 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.