Some neighborhoods might boast newer, pricier and trendier houses than those on Colorado Springs’ southeast side.
But no part of town — in fact, no area of the country — is as popular when it comes to buying a single-family home.
The 80916 ZIP code, which covers a portion of the Springs’ southeast side, ranked as the nation’s No. 1 area for home sales in 2021, according to a seventh annual hottest ZIP codes report released Thursday by Realtor.com, the California-based online real estate service.
The area is bounded roughly by Platte Avenue on the north, the Milton E. Proby Parkway on the south, Academy Boulevard on the west and the Colorado Springs Airport and Peterson Space Force Base on the east.
The No. 1 ranking for 80916 comes after Realtor.com tabbed nearby 80911, which covers unincorporated Security-Widefield to the south, as the nation’s hottest ZIP code last year.
Realtor.com’s rankings are based on how fast homes sell in a particular ZIP code, along with how frequently home listings were viewed online by prospective buyers.
For its 2021 report, Realtor.com examined 29,000 ZIP codes nationwide during the first six months of this year and all areas had at least 13 active listings each month. Realtor.com limited hot ZIP codes to one per metro area to avoid having ZIPs from a single city dominate its list.
Realtor.com’s report showed that homes in 80916 spent an average of just four days on the market before selling — eight days less than the Colorado Springs area as a whole and 33 days less? than the rest of the nation.
“By definition, the ZIPs that make our annual hottest report are very competitive, but this year, they are white hot,” Danielle Hale, Realtor.com’s chief economist, said in a news release. “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.”
The median list price of homes for sale in 80916, meanwhile, was $318,000, a nearly 20% increase on a year-over-year basis, the Realtor.com report showed.
The typical list price in 80916, however, was 36% lower than the rest of Colorado Springs and 17% below the nationwide list price. Still, 80916’s lower prices made it an area where buyers could get more home for their money, according to Realtor.com.
“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,” Realtor.com’s report said.
“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 (James) Irwin Charter High School, rated eight out of 10 by GreatSchools.org.”
The 80916 ZIP code didn’t rate high in some demographic categories examined by Realtor.com; for example, the area wasn’t among the top ZIPs embraced by young millennials ages 25 to 34, Realtor.com said.
Robert Crawford, a real estate agent with Re/Max Real Estate Group in Colorado Springs and who has marketed properties in 80916 and the southeast side, said the area is popular with Fort Carson soldiers who have an easy commute to the base. The comings and goings of soldiers also result in increased sales in the area, he added.
Lower prices on the southeast side and in 80916, meanwhile, are another incentive for homebuyers to consider the area, Crawford said.
The southeast side also is popular for purchases by national corporate buyers, such as Home Partners of America, Crawford said. The Chicago-based company buys homes nationwide and operates a rent-to-own program, in which tenants rent a home with an opportunity to buy.
This content was originally published here.
