Colorado Springs Micro Market Reports | Quarter 2 2021

Q2 2021

Micro Market Report COLORADO SPRINGS

1915 Fox Mountain Point

35 1st Street

Colorado Springs MARKET UPDATE

As the second largest city in the state, Colorado Springs is a place where locally owned businesses thrive, exciting entertainment abounds, and nature’s beauty is everpresent. Recently ranked the No. 6 spot on U.S. News & World Report’s list of the top 150 best cities to live in the nation, Colorado Springs is a highly sought-after destination for homebuyers looking to a uniquely Colorado lifestyle outside of the Denver Metro area.

LIV Sotheby’s International Realty produces a Micro Market Report focused on the Colorado Springs market, within El Paso County, and its performance through Q2 of 2021 in comparison to the same time period in 2020.

The total dollar volume sold in Colorado Springs grew by 34.8% through June of this year, totaling $3,358,976,730.

Several factors, including appreciating home values and a rise in the number of properties sold, have contributed to this impressive increase. During the first half of the year, the number of listings sold grew by 11.6% compared to the same time frame of 2020. So far in 2021, there have been 7,069 homes sold in this community. Home prices for all property types in Colorado Springs experienced a 20.8% rise through Q2 of 2021, bringing the average price for homes in the area to $475,170.

Several communities within Colorado Springs experienced increases in average home prices as well. Homes in the Broadmoor Resort neighborhood sold for 62.7% more through June of this year compared to January through June in 2020. The average price for a home in the Broadmoor Resort area was $1,872,250 through Q2 of this year. Kissing Camels also saw a notable increase in home prices, rising by 33.1%, which brought the average price of a home in the area to $994,771 through June.

there have been 87 homes sold so far this year – a 42.6% increase from 2020 when there were 61 homes sold during the same time frame.

Consumers appear to be eager to purchase homes in many Colorado Springs communities, with the average number of days listings spent on the market trending downward for all neighborhoods. The most significant decrease in average days on market was observed in Wolf Ranch where listings spent an average of just 12 days on the market, which is 76.9% fewer days than last year.

As of the best places to live in the country, Colorado Springs and its thriving real estate market are sure to provide ample opportunities to buyers and sellers hoping to begin their next chapters in a unique and exciting community.

EL PASO COUNTY January through June

2020

2021

% Change

New Listings

9,203

8,540

-7.2%

Sold Listings (all properties)

6,335

7,069

11.6%

$393,323

$475,170

20.8%

21

10

-52.4%

100.5%

103.8%

3.3%

$2,491,701,205

$3,358,976,730

34.8%

Average Price Average Days on Market % Sold Price to Original List Price Total Dollar Volume Sold

Broadmoor and Cordera have been popular neighborhoods with homebuyers thus far in 2021. Broadmoor saw a 47.1% increase in the number of properties sold, with 150 homes sold through Q2 of this year compared to the 102 homes sold through Q2 in 2020. In the Cordera neighborhood, Based on information from the Pikes Peak REALTOR® Services Corp. (“RSC”), for the period January 1, 2021 - June 30, 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 Spire 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

MICROMARKET REPORT | Colorado Springs livsothebysrealty.com

JANUARY - JUNE 2021 • COLORADOMICROREPORTS.COM

Average Days on Market

The average price in the neighborhood

Highest Price

of Broadmoor increased by 34.0% January through June 2021 compared to that of 2020.

BROADMOOR RESORT

BROADMOOR BLUFFS/THE SPIRES

BROADMOOR

34.0%

January through June Average Price Average Price per Square Foot

Properties Sold % Sold Price to List Price

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

70.5%

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

The average days on market in the

Highest Price

Broadmoor Resort area decreased by 70.5%

Properties Sold

January through June 2021 compared to that of 2020.

% Sold Price to List Price

2020

2021

% Change

$695,679

$932,365

34.0%

$180

$229

27.2%

50

30

-40.0%

$2,200,000

$2,875,000

30.7%

102

150

47.1%

98.7%

99.7%

1.0%

2020

2021

% Change

$704,040

$834,506

18.5%

$165

$195

18.2%

57

17

-70.2%

$1,500,000

$1,299,000

-13.4%

43

52

20.9%

98.6%

102.2%

3.7%

2020

2021

% Change

$1,150,750

$1,872,250

62.7%

$200

$254

27.0%

132

39

-70.5%

$1,895,000

$2,875,000

51.7%

7

8

14.3%

94.1%

96.8%

2.9%

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

$576,223

$662,803

15.0%

$154

$177

14.9%

52

16

-69.2%

$1,005,967

$990,900

-1.5%

61

87

42.6%

99.3%

101.6%

2.3%

2020

2021

% Change

$678,970

$877,699

29.3%

$167

$199

19.2%

81

23

-71.6%

$1,900,000

$3,800,000

100.0%

63

88

39.7%

98.9%

100.8%

1.9%

2020

2021

% Change

$747,609

$994,771

33.1%

$226

$234

3.5%

45

35

-22.2%

$1,100,000

$1,800,000

63.6%

23

19

-17.4%

98.3%

99.4%

1.1%

42.6% The number of properties sold in the neighborhood of Cordera increased by 42.6% January through June 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 $400s to custom homes in the millions, there’s something for everyone.

63.6% The highest price in the neighborhood

of Kissing Camels increased by 63.6% January through June 2021 compared to that of 2020.

KISSING CAMELS

January through June

2021

FLYING HORSE

January through June

2020

CORDERA

January through June

MOUNTAIN SHADOWS OLD NORTH END/PATTY JEWETT

PEREGRINE

Mountain Shadows is a unique neighborhood developed directly in the foothills, backing up to the Rocky Mountains. Its located off of Centennial Boulevard and Flying W Ranch Road, just minutes from Garden of the Gods.

32.5%

January through June

2020

2021

% Change

$532,229

$616,504

15.8%

$158

$180

13.9%

44

34

-22.7%

$910,000

$1,265,000

39.0%

43

43

-

% Sold Price to List Price

99.7%

102.0%

2.3%

January through June

2020

2021

% Change

$492,265

$621,713

26.3%

$222

$282

27.0%

23

14

-39.1%

$1,100,000

$2,400,000

118.2%

40

53

32.5%

99.4%

103.8%

4.4%

2020

2021

% Change

$606,088

$842,788

39.1%

$147

$182

23.8%

30

9

-70.0%

$800,000

$1,295,000

61.9%

26

26

-

99.7%

104.4%

4.7%

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

The number of properties sold in Old North

Highest Price

End/Patty Jewett increased by 32.5%

Properties Sold

January through June 2021 compared to that of 2020.

% Sold Price to List Price

January through June 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

January through June

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

% Change

$625,830

$668,976

6.9%

$143

$169

18.2%

31

12

-61.3%

$1,600,000

$1,073,000

-32.9%

44

44

-

99.2%

101.5%

2.3%

2020

2021

% Change

$700,199

$792,890

13.2%

$169

$194

14.8%

46

18

-60.9%

$1,038,276

$969,000

-6.7%

32

31

-3.1%

99.6%

101.5%

1.9%

2020

2021

% Change

$599,078

$780,046

30.2%

$179

$219

22.3%

25

15

-40.0%

$2,200,000

$2,600,000

18.2%

36

45

25.0%

99.7%

100.5%

0.8%

61.3% The average days on market in Pine Creek decreased by 61.3% January through June 2021 compared to that of 2020.

22.3%

The average price per square foot in

Skyway inecreased by 22.3% January through June 2021 compared to that of 2020.

SKYWAY

Average Price

2021

SANCTUARY POINTE/FOX RUN

January through June

2020

PINE CREEK

January through June

WOLF RANCH WOODMOOR

79.6% The average days on market in the

neighborhood of Wolf Ranch decreased

January through June Average Price Average Price per Square Foot Average Days on Market Highest Price

by 76.9% January through June 2021

Properties Sold

compared to that of 2020.

% Sold Price to List Price

24.8% The average price per square foot in the neighborhood of Woodmoor increased by 24.8% January through June 2021 compared to that of 2020.

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

2020

2021

% Change

$486,600

$566,179

16.4%

$140

$165

17.9%

52

12

-76.9%

$635,294

$726,102

14.3%

99

102

3.0%

99.8%

102.6%

2.8%

2020

2021

% Change

$542,258

$660,151

21.7%

$149

$186

24.8%

35

11

-68.6%

$739,000

$1,050,000

42.1%

96

105

9.4%

99.7%

103.2%

3.5%

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 - JUNE 2021 • COLORADOMICROREPORTS.COM