The Colorado Springs metropolitan area has experienced notable shifts in home values throughout 2024, with appreciation percentages varying widely depending on the neighborhood and zip code. Whether you’re a homeowner, investor, or potential buyer, understanding these trends provides crucial insights into the local market dynamics.
Below, we break down some of the key zip codes within the Colorado Springs area and how they performed in terms of home value appreciation this year.
Top Performing Zip Codes
80924 - Wolf Ranch / Cordera
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Appreciation: 7.9%
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Located in northeast Colorado Springs, this zip code continues to thrive with its family-friendly communities, top-rated schools, and ongoing new construction. The steady influx of buyers has driven consistent appreciation.
80921 - Northgate
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Appreciation: 6.4%
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Nestled just north of Colorado Springs, 80921 offers stunning views of Pikes Peak and quick access to I-25. This area has seen strong growth thanks to its newer developments, larger homes, and proximity to both the Springs and Denver commuters.
80919 - Rockrimmon / Peregrine
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Appreciation: 5.8%
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In northwest Colorado Springs, 80919 has benefited from a strong resale market and its appeal to families seeking established neighborhoods with mature trees and access to hiking trails. Buyers value the balance of natural beauty and city convenience.
Steady Performers
80920 - Briargate
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Appreciation: 4.2%
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Briargate remains a popular choice for families, offering great schools, parks, and shopping. Though appreciation was more modest compared to other areas, demand for homes here remains consistent.
80831 - Falcon / Peyton
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Appreciation: 3.9%
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Located just east of the city, this suburban zip code has grown steadily as more buyers seek affordable homes and larger lots. Developments like Meridian Ranch continue to draw interest.
80906 - Broadmoor / Southwest Colorado Springs
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Appreciation: 3.5%
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This zip code features some of the most luxurious homes in the area, including properties near the renowned Broadmoor Resort. While appreciation here was more moderate, the area retains strong appeal for high-end buyers.
Challenging Markets
80910 - Southeast Colorado Springs
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Appreciation: 2.1%
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Southeast Colorado Springs saw slower appreciation in 2024 due to affordability challenges and a higher inventory of older homes. However, revitalization projects may offer future opportunities.
80907 - Central Colorado Springs
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Appreciation: 1.8%
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This centrally located area saw modest gains, partially impacted by limited new construction and a more competitive market. Its proximity to downtown continues to provide long-term value.
Key Takeaways for Buyers and Sellers
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Growth in Northeast and North Areas: Zip codes like 80924 and 80921 led the way with strong appreciation, driven by newer communities, desirable amenities, and convenient access to major highways.
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Steady Suburban Appeal: Areas like Briargate and Falcon remain steady performers, balancing affordability with lifestyle benefits.
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Opportunities in Slower Markets: While appreciation in 80910 and 80907 was lower, these areas may present investment opportunities for buyers looking to capitalize on future redevelopment and growth.
Looking Ahead
As we move into the latter half of 2024, Colorado Springs continues to attract buyers with its affordability compared to other Colorado markets, stunning natural surroundings, and strong local economy. Whether you’re looking to sell, invest, or find your next home, understanding the appreciation trends across zip codes helps make informed real estate decisions.
If you’re curious about how your specific home or neighborhood performed in 2024, reach out to our team for a personalized market analysis. Let’s navigate this dynamic market together!
- The Johnson Team
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