If you're keeping an eye on Colorado Springs' real estate market, understanding the dynamics of the hottest zip codes can give you an edge, whether you’re buying, selling, or simply curious about market trends. Here’s a breakdown of how we determine which zip codes are truly the hottest, based on data from 2023 and 2024.
Our Ranking Methodology
To rank the hottest zip codes in Colorado Springs, we use a two-factor approach based on price appreciation rank and days on market (DOM) rank. Both factors give a snapshot of how competitive and desirable a particular area is in the current market.
Price Appreciation Rank
We start by looking at the year-over-year price appreciation in each zip code, which is the change in the median home price from 2023 to 2024. Zip codes with the highest price appreciation are ranked higher, as they reflect areas where home values are increasing at a fast rate. This indicates high demand and a growing market.
DOM Rank
Next, we consider how quickly homes are selling by ranking the days on market (DOM) in each zip code. The DOM rank is calculated in ascending order, meaning zip codes with the shortest DOM (homes selling faster) receive a higher rank. A lower DOM suggests that homes are in high demand and the market is competitive, which is important for both buyers and sellers.
Overall Rank (Average of Price Appreciation Rank and DOM Rank)
To create the final overall rank, we average the price appreciation rank and DOM rank for each zip code. This combined approach provides a balanced view, taking into account both the price competitiveness and how fast homes are selling in each area.
Top 6 Hottest Zip Codes in Colorado Springs
Based on the latest data, here are the top 6 hottest zip codes in Colorado Springs for 2024, ranked according to their overall rank, which considers both price appreciation and market speed (DOM).
1. 80919
-
2023 Median Price: $557,450
-
2024 Median Price: $591,290
-
Price Appreciation: +6.1%
-
2023 DOM: 13
-
2024 DOM: 12
80919, located on the city’s west side, is home to the sought-after Rockrimmon area and remains one of the hottest zip codes despite the challenges posed by the Waldo Canyon Fire. Prices have seen a solid increase of 6.1%, and homes are selling faster in 2024, reflecting strong demand in this established community. This zip code combines a desirable location with growth potential, making it an attractive place to buy or sell.
2. 80906
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2023 Median Price: $500,000
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2024 Median Price: $563,425
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Price Appreciation: +12.7%
-
2023 DOM: 13
-
2024 DOM: 17
80906 includes the exclusive Broadmoor community and also some of the lowest-priced homes in our area, with prices ranging from $80,000 to $4.15M in 2024. Despite a slight increase in DOM, the area has seen a significant price surge of 12.7%, reflecting a rising demand for homes. This zip code offers a diverse range of homes, from affordable properties to luxury estates, making it an attractive choice for many buyers.
3. 80918
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2023 Median Price: $435,000
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2024 Median Price: $451,500
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Price Appreciation: +3.8%
-
2023 DOM: 10
-
2024 DOM: 13
Located on the east side of Colorado Springs, 80918 has seen strong price growth of 3.8%. The area offers a variety of housing options, including ranch-style homes and newer developments. Its proximity to UCCS and well-established neighborhoods makes it an attractive choice for both families and students. The DOM has risen slightly in 2024, but the area remains highly competitive due to its affordability and location.
4. 80904
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2023 Median Price: $454,000
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2024 Median Price: $480,000
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Price Appreciation: +5.7%
-
2023 DOM: 13
-
2024 DOM: 19
80904 includes the historic Old Colorado City and several other charming neighborhoods. With a 5.7% increase in prices and a rise in DOM, this area continues to attract buyers seeking character and charm, particularly in homes close to the downtown area. While the market has slowed slightly in terms of sales speed, this area still offers tremendous value for those looking for a home with history and personality.
5. 80909
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2023 Median Price: $378,500
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2024 Median Price: $393,000
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Price Appreciation: +3.8%
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2023 DOM: 11
-
2024 DOM: 17
With a notable increase in DOM, 80909 reflects an area where homes are taking slightly longer to sell, but prices continue to rise by 3.8%. This area includes several established neighborhoods, including Northeast Colorado Springs and Palmer Park, and continues to attract buyers looking for an affordable entry point into the market. Despite the increase in DOM, the price growth signals ongoing interest in the area.
6. 80917 (Tie for 5th)
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2023 Median Price: $393,000
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2024 Median Price: $419,000
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Price Appreciation: +6.6%
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2023 DOM: 17
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2024 DOM: 22
Rounding out the top 6, 80917 has risen significantly, with a 6.6% price increase in 2024. This zip code includes neighborhoods like Homestead and Villa Loma, which have seen strong demand in recent years. The increase in DOM suggests a slight slowdown in market speed, but this area still offers strong potential for both buyers and investors. The number of townhomes in this zip code also helps to boost the median price, providing more affordable options with great upside potential for homeowners and renters alike.
Why These Rankings Matter
The top 6 zip codes in Colorado Springs represent the areas where demand is highest, and market conditions are the most competitive. These zip codes are seeing both strong price growth and, in many cases, faster home sales, indicating a healthy real estate market that is both desirable and dynamic. Whether you’re looking to buy or sell, understanding these trends can help you make informed decisions about where to focus your attention.
While this is a fun way to parse the data and understand market trends, it’s important to remember that these rankings should not be relied upon to indicate the increase or decrease in value or desirability for any individual home. Each property is unique, and market conditions can vary even within a single zip code.
Check out the full rankings below to explore the rankings of other zip codes in the Springs and see how they compare. If you have any questions or would like help navigating the market in these hot areas, feel free to reach out. Let’s talk about how you can take advantage of the latest trends and opportunities in Colorado Springs real estate.
|
Zip Code |
Median DOM 2024 |
Median Price 2024 |
Price Change |
Overall Rank |
|
12 |
$591,290.00 |
+6.1% |
1 |
|
|
17 |
$563,425.00 |
+12.7% |
2 |
|
|
13 |
$451,500.00 |
+3.8% |
3 |
|
|
19 |
$480,000.00 |
+5.7% |
4 |
|
|
17 |
$393,000.00 |
+3.8% |
6 |
|
|
18 |
$414,500.00 |
+4.1% |
6 |
|
|
13 |
$515,000.00 |
+2.8% |
8 |
|
|
22 |
$750,000.00 |
+4.4% |
8 |
|
|
17 |
$480,000.00 |
+3.2% |
9 |
|
|
16 |
$425,000.00 |
+1.9% |
10 |
|
|
16 |
$384,950.00 |
+1.3% |
11 |
|
|
22 |
$390,000.00 |
+2.1% |
12 |
|
|
34 |
$644,924.00 |
+4.0% |
13 |
|
|
21 |
$410,000.00 |
+1.2% |
15 |
|
|
29 |
$545,500.00 |
+3.3% |
15 |
|
|
36 |
$685,223.00 |
+3.8% |
16 |
|
|
33 |
$570,000.00 |
+3.6% |
17 |
|
|
32 |
$462,810.00 |
+2.8% |
18 |
|
|
22 |
$360,000.00 |
-1.4% |
19 |
|
|
23 |
$350,000.00 |
0.0% |
21 |
|
|
25 |
$455,000.00 |
+1.1% |
21 |
|
|
32 |
$725,000.00 |
0.0% |
22 |
|
|
28 |
$499,950.00 |
-3.1% |
23 |
|
|
44 |
$415,000.00 |
+1.2% |
24 |
