A plain-English look at what's happening in the Pikes Peak region real estate market right now. All data comes directly from the elevateMLS, updated daily.
Colorado Springs is currently a buyer-favoring market. Affordability constraints and softening demand are shifting leverage toward buyers. Sellers are averaging 96.5% of original asking price — well below full asking. At 3.7 months of supply, inventory is elevated.
For buyers: you have leverage to negotiate. Look for price reductions and homes that have been on market beyond 57 days — those sellers are often more motivated.
For sellers: price competitively from day one. The market is punishing overpricing. Homes that sit are selling at steeper discounts.
Median home prices have decreased 2.5% compared to a year ago — from $465,000 to $453,330.
Interest rates have moved from 6.65% to nan% over the same period.
Employment drives housing demand. Low unemployment supports home prices and faster sales.
Top 10 neighborhoods by current active listings and closed sales in the last 30 days. Click a neighborhood to explore.
Mortgage principal & interest on the average-priced home at that month's prevailing interest rate (30-year fixed, no down payment).
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