2021 Colorado Springs Real Estate Market Break Down and 2022 Market Preview

The Colorado Springs housing market in 2021 was hot to say the least.  Colorado Springs boasted the nation’s most popular zip code in single-family home sales in 2021, 80916, and Colorado Springs home values were up almost 20% from 2020.

Over the course of the year the median sold price for a single-family home in the Colorado Springs area, according to the Pikes Peak Multiple Listing Service, went from $390,000 in January up to $450,000 in December.  The current state of the Colorado Springs housing market is fueled by high demand and lack of inventory, creating a seller’s market.

In 2022 this trend will continue as long as interest rates remain low.  Many predict interest rates will go up towards the end of 2022, and home prices will continue to steadily increase. The combination of those two factors could put home shopping on hiatus for many potential buyers.

If you are looking to buy a home in 2022 in the Colorado Springs Area the sooner the better.  In 2021 April, May, and June were the most high demand months in Colorado Springs for homes, so planning to buy earlier in 2022 before the seasonal demand picks up may be a good course of action for home buyers.  

As long as Colorado Springs remains a great place to live, with good job opportunities, with an adjacent larger metropolitan area that is out pricing home buyers (Denver), the area's housing market will continue to grow.  

Along Colorado’s Front Range expect Pueblo to be an emerging market in 2022 with a median home price far below Colorado Springs and with high demand for affordable housing along the Front Range the Pueblo area may hold lots of potential especially for first time home buyers.

If you are on the fence about buying in 2022 due to affordability, something to take into consideration is the Colorado Springs rental market.  Rents in Colorado Springs are at an all time high and rising with every new lease agreement.  Buying versus renting will give you a steady home payment that generally doesn’t fluctuate, giving homeowners an advantage over ever increasing cost of living. 

Colorado Springs Real Estate - EXIT Realty Mountain View, Brandy Brown Employing Broker/Owner - We help home buyers and sellers along Colorado’s Front Range including Colorado Springs, Pueblo West, Woodland Park, Fountain, and Peyton. Please contact EXIT Realty Mountain View at 719.375.3864 to connect with one of the amazing brokers on our team.
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