The Best Areas to Buy a House in Colorado Springs Based Off of Market Appreciation

Which Areas Have Appreciated The Most in Colorado Springs

Colorado Springs and the Pikes Peak region have experienced positive appreciation in our local real estate market for the last 8 years straight. Some areas have appreciated more than others. This article is designed to inform you of which areas have experienced the highest and lowest rates of appreciation.

Colorado Springs Area 5 Year Real Estate Appreciation by Zip Code

As you'll notice from the infographic above, different neighborhoods around Colorado Springs have very different results in market appreciation. Some neighborhoods will appreciate twice as fast as others. All parts of the Springs are not equal.

One thing is certain; every part of Colorado Springs has appreciated well. The lowest zip code on the list still appreciated at 28.7% over the last five years. That's really good!

Let's take a look at the last 10 years of sales history in the Pikes Peak region to get a better understanding of exactly how much our market has grown.

Colorado Springs Median Sales Price Over the Last 10-Years

Colorado Springs Median Home Values Over 10 Years

Notice the dip in the median home value between 2010 and 2011. The government created a Homebuyer Tax Credit that artificially stimulated the real estate market in 2010, which is why we see a small spike there.

Notice how Colorado Springs has appreciated every year since 2011. By 2016, we were back to the same median home price as before the Great Recession. This is the reason why we decided to go five years back in our research. This time period is very useful for determining the best neighborhoods in Colorado Springs to buy a home.

There are three main points of interest that we find most relevant here. We have personal opinions about this information, but for this article, we will just stick to the basic facts:

  1. All the zip codes closest to downtown Colorado Springs seem to appreciate the most.
  2. The zip codes with the most expensive homes were typically near the bottom of the list.
  3. The zip codes with the most newly built neighborhoods tend to appreciate slower than others.

This means that a person who invested money in residential real estate close to the downtown area 5 years ago would have experienced a much better appreciation rate than someone who invested the same amount of money inNorthgate, or on a high-end newly built home.

Traditionally, Colorado Springs has not had a great luxury market; therefore this should not be a surprise to many local seasoned Realtors. We have seen an increase in the luxury market in the last couple of years, so this information may change as more people come from Denver and other parts of the Country.

This is the million-dollar question. The honest answer is that no one really knows. This data is provided as a point of reference to reflect on, but not as a guarantee of what's to come in the future.

Many people are predicting another market crash sometime within the next few years, which would obviously change the outcome of appreciation rates. If that does happen, you can be sure that we will be publishing a depreciation map to help you keep track of the changes.

This data does not guarantee that you can invest in real estate near downtown Colorado Springs and do better than you would in Northgate. This is general information over every home sold within our local MLS.

Within every area, there are always specific deals that do not conform to these averages. We advise you to work with a great Realtor who knows the market well and can help you navigate each area and property efficiently to ensure that you make the best decisions.

Every month, we put out the Colorado Springs Market Insider on our Facebook, Instagram, and YouTube pages. If you subscribe to any of our social media profiles, you'll receive our newest videos in your news feed as soon as we post them. This is one of the best ways to stay up to date with our crazy market shifts.

Click below to follow us on any of these social platforms to stay updated.

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We also recommend finding a good Realtor who you can easily communicate with to help keep you posted. There are many professional Realtors in Colorado Springs who have a pulse on the market every day. They are a wealth of valuable information.

Whether you are buying or selling a home right now or in many years from now, you still need a good Realtor connection. Finding a good agent and keeping in touch every now and then is a smart move.

Map of Colorado Springs Real Estate Market

Which Areas in Colorado Springs Have Appreciated The Most Over  The last 5 years?

Andrew Fortune

Hi! I'm Andrew Fortune, the founder of Great Colorado Homes and the creator of much of the content on this website. Thanks for taking the time to read this article. Please feel free to share this article with someone who might benefit from it. I appreciate your time here on this site and am always open to suggestions and ideas from our readers. Feel free to leave a comment in the box below.

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2 Responses to "The Best Areas to Buy a House in Colorado Springs Based Off of Market Appreciation"

Andrew Fortune wrote: Nice post

Posted on Thu, Mar 22nd, 2018 03:02am

Miami Beach Real Estate wrote: You shared great information related to your local real estate market in Colorado Springs.

Posted on Thu, Aug 30th, 2018 11:28pm

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