Colorado Springs Real Estate Market

Grab a coffee and get the real story on what's happening with home prices, inventory, and more right here in the 719.

Your Top Colorado Springs Real Estate Questions, Answered by a Local

I've called Colorado Springs home for over 40 years, and the question I hear most at school pickups, coffee shops, and open houses is always the same: "So, what's the market doing?" Here's my honest, local take on where things stand this fall and what it means if you're thinking about making a move.

Just a little, and for a lot of families, that's welcome news. The average sale price in September was $545,660, down about 3.5% from $565,356 a year ago. The median price held almost perfectly steady at $479,000, compared to $479,450 last September. So this isn't a crash. Prices have simply found their footing after years of fast growth. If you felt priced out a couple of years ago, now is a great time to take another look.

We're right around the line between a seller's market and a balanced one. There's about 4.6 months of supply on the market today, up from 3.9 months a year ago. That shift gives buyers more choices, more time to decide, and more room to negotiate on price, repairs, and closing costs. Sellers, don't worry. You can still have a great outcome. It just takes smart pricing and a home that shines from day one.

Homes spent an average of 53 days on the market in September, nearly the same as the 54 days we saw last September. Think of it as a steady pace rather than a race. Updated homes in sought-after neighborhoods can still move quickly, while homes that need some love or start out priced too high usually take a little longer to find the right buyer.

Where do I start? We have Pikes Peak in our backyard, more than 300 days of sunshine, and trails, parks, and open space around every corner. Our military community keeps the city vibrant and growing, and families love the variety of school districts and neighborhoods to choose from. New homes are going up too, with 1,802 new single-family permits issued from January through August. Put it all together, and it's easy to see why so many people dream of planting roots here.

Iris's Bottom Line

Whether you're buying your first home, arriving on PCS orders, or getting ready to sell, this market rewards people who come in with a plan. Buyers have more leverage than they've had in years, and sellers who prepare well are still winning. Curious what this means for your neighborhood or price range? Send me a note and I'll put together a custom update just for you.

Homes in the Colorado Springs area sold for an average of $545,660 in September, about 3.5% less than this time last year.

Right in the middle of the market, the median home sold for $479,000 in September, almost exactly where it was a year ago.

Homes are taking an average of 53 days to sell, right in line with last September's 54 days.

RPR, which counts condos and townhomes along with single-family homes across El Paso County, shows 5.06 months of inventory, right at the edge between a seller's market and a balanced one. With more homes for sale and a slower pace of sales than last year, buyers have more breathing room than we've seen in years.

El Paso County recorded 62 new foreclosure starts in July 2026, down from 95 in July 2025. So far this year, starts are running about 3% below last year, with 583 from January through July compared to 599 over the same stretch in 2025. For the full monthly reports, visit the El Paso County Public Trustee.

There were 4,253 single-family homes for sale in September, about 6% more than a year ago. More options means more room to find the right fit.

Unemployment in the Colorado Springs metro area rose to 4.7% in August 2026, up from 3.9% a year earlier, based on preliminary federal data. It's a number worth watching, and one reason some buyers are taking a little more time with big decisions.

Builders had a busy spring in Colorado Springs, with new single-family permits peaking at 219 in March. Activity has cooled since then, with 80 permits issued in September 2026 compared to 106 in September 2025. Fewer new starts today can mean fewer brand-new homes coming to market next year.