A plain-English look at what's happening in the Pikes Peak region real estate market right now. All data comes directly from the Pikes Peak MLS, updated daily.
Colorado Springs is in a balanced market. The attrition ratio is 1.64, meaning roughly equal numbers of homes are selling and failing. Sellers are averaging 95.6% of original asking price.
For buyers: you have leverage. Take your time, negotiate, and don't overpay.
For sellers: pricing strategy is critical. Overpriced homes are getting withdrawn or expired. The data shows the cost of time on market is real.
Median home prices have decreased 4.3% compared to a year ago — from $465,000 to $445,000.
Interest rates have moved from 6.96% to 6.10% over the same period, which has improved buying power.
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