It’s Getting Hot in Colorado Springs
The country's hottest ZIP code is 80916 (located on the southeast side of Colorado Springs), according to new data released by Realtor.com. The area saw a 36% increase in viewers-per-property year-over-year, and homes there spend only four days on the market. For comparison, properties spent an average of 25 days on the market in 2020.
Interestingly enough, the top ZIP code of 2020 was also in the Colorado Springs area. 2020’s winning ZIP code, 80911, is just south of 80916 and covers Security-Widefield in El Paso County. Before we explore why the Springs are sizzling, let’s break down what this ranking means and how it’s calculated.
Realtor.com’s 2021 Report
Realtor.com’s rankings are based on how quickly homes sell in a ZIP code along with the frequency of homes being viewed on an MLS site. For this report, the real estate aggregate examined 29,000 ZIP codes nationwide during the first six months of 2021. After crunching the numbers, 80196 had the lowest average days on the market.
"By definition, the ZIPs that make our annual hottest report are very competitive, but this year, they are white-hot," said Danielle Hale, Realtor.com's Chief Economist,in an interview with The Gazette. "Homes in this year's ZIPs are under contract in less than a week, which is three times faster than the contract times for last year's hottest markets."
Now that you know the ranking parameters, check out the full list of the winning ZIP codes below.
Top 10 Hottest ZIP Codes in 2021
So, why are folks flocking to 80916?
What’s Behind Colorado Springs’ Sizzle?
Recently ranked as one of the most desirable places to live in the nation, Colorado Springs’ proximity to the mountains certainly aids in its appeal. Beyond the outdoors, the Springs’ housing market is a more affordable option when compared to Denver’s red-hot real estate market.
With plans in place for the construction of a Front Range passenger rail, which will connect these two cities via public transportation, it's possible that more Denverites will turn their sights south as they look for a less expensive, less crowded life.
In particular, 80916 includes Colorado Springs Airport and Peterson Airforce Base.
“The area is known for its affordable homes, built in the 1970s and ‘80s, and the quick commute to military bases and defense contractors, such as Lockheed Martin and Northrop Grumman,” says the Realtor.com report. The median listing price is $318,000, which is much lower than the median home price of $430,000 for Colorado Springs as a whole.
“In recent years, the ZIP has seen an influx of buyers from California and Texas looking to enjoy the outdoors and take advantage of top-rated schools including Irwin Charter High School, rated eight out of 10 by GreatSchools.org. On the weekend, locals enjoy hiking and rock climbing in places like Garden of the Gods and Pike’s Peak.”
No matter which Colorado Springs’ ZIP code is calling your clients’ name, there’s clearly plenty to love in Little London.
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