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Monument, Colorado-Real Estate Market Report

Written by Posted On Wednesday, 04 September 2019 10:43

Monument, Colorado (also known as TriLakes) is a small town located at the northern edge of El Paso, County Colorado. This area is approximately 20 minutes north of Colorado Springs and 50 minutes south of Denver which makes it a great location for those that need access to both cities. 

The monument real estate market has been strong for the past couple of years. As a matter of fact, the number of home sales has increased every year in Monument over the past 5 years. in all of 2018, there were 673 home sales and as of August, there have been 410 so far in 2019.

The median sales price is $499,500 while the median list price is $524,900. This means there is a 4.84% In what home sellers are asking and homebuyers are paying. 

The months of inventory as of August 2019 stands at 4.3 months of available housing inventory. This means if no new homes were listed it would take 4.3 months to sell through the existing inventory at the historic rate is actually quite high for Monument. For the last five or six years, the area has seen inventory levels in the low 2 to the 3-month range.

Six months of inventory is generally considered a balanced market. more than 6 months of inventory indicates a buyer's market and less than 6 months of inventory indicates a seller's market. Monument has been in a strong seller's market for the last couple of years with months of inventory averaging in the low 2 to 3% range. 

We definitely want to keep an eye out on both the median list price as well as the months of inventory. These two statistics give us a good sense of what direction pricing is headed. 

Here is the breakdown for the Monument Colorado real estate market for August of 2018 through August of 2019. 

Number of Sales (8/18 - 8/19) 544
Median Sales Price $499,500
Median Listing Price $524,900
Median Days to Sell (2019 YTD) 17
Months of Inventory 4.3
Median List Price per Square Foot $155

Monument, Colorado consists of a wide range of popular neighborhoods. When we look at buying in the area it's important to look in is many of these areas that might work for your situation. Here's a list of some of our client's favorite Monument, Colorado neighborhoods: 

Forest Lakes is a newer community in Monument, Colorado. This neighborhood is tucked away off of Baptist Road on the west side of I-25. Forest Lakes is surrounded by beautiful scenery and natural amenities. Forest Lakes has an open space that extends to approximately 4 acres. Additionally, the area has a neighborhood park, an interconnection of trails across the city as well as the scenic beauty provided by the lakes.

Homes for sale in Forest Lakes are sold from $400,000 to about $1,000,000. 

Forest View Estates is a custom home community located on the west side of Monument Colorado just south of Palmer Lake. This neighborhood is situated at the foot of historic Mount Hermon. Homes in the area are mostly custom estate grade homes on large two and a half-acre lots. Situated within walking distance Monument Preserve, Forest View is a favorite for nature lovers, hikers, and mountain bikers. 

High Forest Ranch is a luxury gated neighborhood just east of Monument, Colorado. It is located off Highway 83 adjacent to Hodgen Road. The area is convenient for commuters going to either Colorado Springs or Denver. The area has a large community trail as well as a community center.

High Forest Ranch home sites range in size from 2.5 acres to almost 39 acres. In addition, the average home price is about $1,040,000. 

Jackson Creek is a family-friendly neighborhood found in Monument Colorado. It is located on the east of I-25 off Baptist Road. The area has a variety of homes for sale as it is among the largest communities in Monument. It is approximately 25 minutes’ drive away from downtown Colorado Springs and about 50 minutes’ drive to Denver.

Additionally, the area is known for its close proximity to shopping centers and schools. Moreover, the area is close to outdoor amenities like biking and hiking. The average price for homes is $416,000. 

King Deer is an exquisite community found at the north end of Monument, Colorado. This neighborhood borders the southern end of Douglas County right at County line Road. This area has award-winning schools, A1 golf course as well as playgrounds, soccer fields, and trails.

In addition, this area is in close proximity to both Colorado Springs and Denver. Homesites is King’s Deer are approximately 2-5 acres in size. Home prices in this neighborhood range from $580,000 to above $1000, 000. The average price is $777,500.

Lake of the Rockies is a great newer neighborhood located within Monument Colorado. It is found on the western side of I-25. It is close to Monument Lake, as such, there are a variety of outdoor activities that you can partake including fishing, kayaking, and paddleboarding. Furthermore, the community provides an amazing scenery of the lake plus the Front Range and Mt. Herman. Its proximity to downtown Monument makes it easy for you to enjoy your activities to and from without much hassle. 

The price for buying a home in Lake of the Rockies community ranges from $350,000 to above $600,000.On average, the price is $400,000. 

Palmer Lake is a small picturesque neighborhood found on the northwest side of Monument, Colorado. The area is found west of I-25 and just south of Douglas County and Larkspur, Colorado. Palmer Lake is located between Colorado Springs and Denver and is convenient for commuters. 

This town is known for its religious history as well as a variety of farming activities including grain farming, ice farming, dry-land potato farming, and fox farming among others. Apart from its delicacies, the town is also known for its recreational activities among them being water sports and fishing. 

Homes for sale in this neighborhood include both the old and the new buildings. The average price for owning a home in Palmer Lake is about $200,000.

Promontory Pointe is one of the recently developed communities found in the Monument area. It is situated just off Baptist Road to the east of I-25. The area is located between Kingswood Dr. and Leather Chaps. The area is situated within close proximity to Lewis-Palmer School District 38 and Monument Marketplace. Therefore shopping centers and schools are just a stone throw away.

Homes for sale in Promontory Pointe were built by professional constructors including Vantage Homes and Classic Homes. The price for homes in this area ranges from $400,000 to above $800,000. 

Red Rock Ranch is a great neighborhood found in Monument Co. It is situated west of Interstate-25. Additionally, the area borders Highway 105 to the south and Mount Herman Road to the north. Homes for sale in Red Rock Ranch consists of lots built on 2.5 up to 5 acres nestled on the foot of Front Range.

The area is known to have spectacular views of the city as well as the front ranges. Moreover, there are various trails connecting residents to Palmer Lake Reservoir, Monument Preserve, and Mount Herman. Are you a fun of hiking among other outdoor activities? Well, if you are, Red Rock Ranch is the place for you. 

Sanctuary Pointe is among the recent and well-planned neighborhoods found in Monument Colorado. It is located close to Fox Run Regional Park just off Baptist road and to the east of Interstate-25. This beautiful sanctuary was built by expert builders including Vantage Homes, Saddletree Homes, and Classic Homes.

Homes for sale in Sanctuary Pointe are not only built proficiently but also its location offers beautiful views of Pikes Peak. Homes in this area range from $460,000 to more than $1,000, 000

Woodmoor is probably the most popular communities within Monument Colorado. It is an extensive neighborhood that has about 3,000 homes, mostly single-family residences. It is located on the east of I-25 off Highway 105. Many homes in this area feature a wonderful view of the Front Range. Additionally, the Woodmoor Country Club is located in the area and offers golf, dining, swimming and a host of other activities. The “Woodmoor Barn” is a community center that provides space for social and community events.

If Monument doesn't seem like it's the right fit for you, you might consider looking at Colorado Springs homes for sale. Homes in this area are in a more traditional neighborhood setting while the prices are somewhat lower. 

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Joe Boylan

I have been a Colorado Springs Realtor since 1997 and as a first-year agent, I received the Real Trends Magazine, "Rookie of the Year" Award. Since then I have participated in hundreds of real estate transactions.
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