The home stomping grounds and land of quiet, city-owned open spaces, the northwest city pulled inward a bit in 2018 forecasting what will likely be seen in other parts of the local market in 2019. Owners of property in 80919 “gotta good thing going on” and in the absence of finding a readily affordable replacement, often went about remodeling the existing home. Sales units were down slightly and down 14% from the height of popularity seen in 2016. Notably, Peregrine homeowners simply didn’t want to move in 2018, as unit sales in Peregrine were down 31%. Affluent buyers found home in 2018 not in the more traditional pockets of high value like Peregrine and the ridges of Pinecliff, but in the heart of Rockrimmon, on acreage along Woodmen, and in Woodmen Valley.Northwest 2018 Data Luxury
HIGHLIGHTS IN 2018:
- The quality-of-place that is 80919 generated a greater diversity of sales prices. There were almost as many sales in 2018 from $600,000 to $800,000 as there were from $500,000 to $600,000. With higher priced homes finding buyers more easily, the “bread and butter” of the area is increasingly characterized by the qualities of land (view, privacy, quiet street) synthesized with a remodeled home that enhances that quality-of-place.
- The Mountain Shadows Post-Fire popularity continues in a consistent, upward trajectory. The more central location and often very updated condition of the higher-value homes in the region saw an increase in sales again in 2018 with a 14% increase in sold units and a top sale just under $900,000.
- Of the ten sales over $800,000 in the zip code in 2018, only a single home (newly-built) was sold in Peregrine. The other 9 were in Mountain Shadows (3), on acreage along lower Woodmen (2) or in Woodmen Valley (4). This indicates that the overall desirability of the location is not restricted to a single neighborhood designation.
Based on information from the Pikes Peak REALTOR® Services Corp. (“RSC”), for the period January 1, 2014 through December 31, 2018. RSC does not guarantee or is in any way responsible for its accuracy. Data maintained by RSC may not reflect all real estate activity in the market.