Is Northwest Colorado Springs, CO a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Northwest Colorado Springs has remained a Buyer's Market.
Housing Prices in Northwest Colorado Springs, CO
How much do homes in Northwest Colorado Springs, CO cost?
Median Sold Price
$580,000
$296/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Summary: The median home sold price in Northwest Colorado Springs was $580,000 in May 2024, down 5.7% from last month, and the median price per square foot was $296.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $308K | $275K | -10.7% |
3 Bedrooms | $409.9K | $469.5K | +14.5% |
4 Bedrooms | $778.7K | $641K | -17.7% |
5+ Bedrooms | - | - | N/A |
Summary: Northwest Colorado Springs housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 10.7%, 3 bedroom homes increased by 14.5%, 4 bedroom homes decreased by 17.7%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
Rockrimmon | $560K | $580K | +3.6% |
Northwest Colorado Springs | $615K | $580K | -5.7% |
Pinon Valley | $550K | $484K | -12.0% |
Housing Supply in Northwest Colorado Springs, CO
How many homes are available in Northwest Colorado Springs, CO?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
71 | 135 | +90.1% |
Summary: The Northwest Colorado Springs real estate market had 135 homes for sale in May 2024, a 90.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 3 | +100.0% |
2 Bedrooms | 11 | 28 | +154.5% |
3 Bedrooms | 22 | 31 | +40.9% |
4 Bedrooms | 25 | 42 | +68.0% |
5+ Bedrooms | 13 | 31 | +138.5% |
Summary: The Northwest Colorado Springs housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 154.5%, 3 bedroom homes increased by 40.9%, 4 bedroom homes increased by 68%, and 5+ bedroom homes increased by 138.5%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
9 | 7 | -22.2% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 7 homes were sold or pending in Northwest Colorado Springs in May 2024, down by 22.2% month-over-month. Of the 7 sold homes, 43% were sold under asking, 29% were sold at asking, and 29% were sold over asking.
Days on Market for Northwest Colorado Springs, CO
How long does it take to sell a home in Northwest Colorado Springs, CO?
Average Sale Time
Apr 2024 | May 2024 | CHANGE |
---|---|---|
29 Days | 11 Days | -60.3% |
Summary: Homes in Northwest Colorado Springs had an average of 11 days on market in May 2024, down by 60.3% compared to last month.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 7 homes were sold in Northwest Colorado Springs; 86% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.