El Paso County/Colorado Springs Market Report: Q1 2024

Rustic Realty logo with pine trees and house, featuring "El Paso County Market Update" text, relevant to Colorado Springs and El Paso County real estate insights.

PUBLIC POLICY

The resolution firmly asserted that Colorado Springs would not adopt the Sanctuary City status, citing the City’s consistent recognition as one of the best places to live and United States, with its cherished safety and quality of life for law-abiding citizens. 

We’re continuing to see affordable housing projects to get funding/traction.

DEVELOPMENTS

Continued highway construction on both I-25 and the Hwy 21 (Powers Blvd) to help ease traffic congestion between Colorado Springs and Denver. 

A $73 million project is underway to create a more sustainable water system for part of northern El Paso County. The Northern Water Delivery System will allow the Triview Metropolitan District in Monument to use renewable water rights to help replace its diminishing groundwater resources .

Semiconductor, Defense, Aerospace, Cyberspace sectors continue to see growth and increased focus on the Colorado Springs market. Specific companies include: Spectrum LLC, Ignite Fueling Innovation, and Invictus. 

Sunset Amphitheatre continued construction and announced the upcoming season of performers, beginning Summer 2024. This will be the first outdoor music venue to Colorado Springs. 

 2023 Q12024 Q1%+-
VELOCITY   
Commercial Sales Volume$194,969,774$278,149,11942.66%
Commercial Transactions8676

-11.63%

VACANCY RATE11.30%13.05%15.49%
CAP RATEN/A6-7%N/A
SALES TAX INDICATORS    
All Sales Tax

$17,055,520

$17,920,354

5.07%

Lodging Taxes $417,911 $410,079 -1.87%

About The Author

Professional headshot of David Porter, a representative of Rocky Mountain Commercial Real Estate, emphasizing expertise in Colorado Springs commercial real estate market insights.

David Porter, a commercial real estate agent at Rustic Realty, serving Colorado Springs, I-25 Corridor between Denver and Pueblo, Woodland Park, and Peyton. He takes a client-focused approach, listening carefully to their needs and goals and delivering results that exceed their expectations.