Is 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, Colorado Springs has remained a Buyer's Market.
Housing Prices in Colorado Springs, CO
How much do homes in Colorado Springs, CO cost?
Median Sold Price
$487,950
$227/sqft
Based on all homes sold in June 2024.
Difference Since Last Month
Summary: The median home sold price in Colorado Springs was $487,950 in June 2024, up 1.8% from last month, and the median price per square foot was $227.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $225K | - | N/A |
2 Bedrooms | $325K | $342.5K | +5.4% |
3 Bedrooms | $435K | $449K | +3.2% |
4 Bedrooms | $545K | $515K | -5.5% |
5+ Bedrooms | $675K | $655K | -3.0% |
Summary: Colorado Springs housing prices by bedroom type for June 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.4%, 3 bedroom homes increased by 3.2%, 4 bedroom homes decreased by 5.5%, and 5+ bedroom homes decreased by 3%.
Median Sold Price Compared To Nearby Cities
Elsmere | $470K | $479.9K | +2.1% |
Colorado Springs | $479.5K | $487.9K | +1.8% |
Cheyenne Mountain | $1.0M | $852.5K | -21.6% |
Manitou Springs | $989.9K | $730K | -26.3% |
Pikes Peak | $999.9K | $505K | -49.5% |
Housing Supply in Colorado Springs, CO
How many homes are available in Colorado Springs, CO?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
2,265 | 3,239 | +43.0% |
Summary: The Colorado Springs real estate market had 3,239 homes for sale in June 2024, a 43.0% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 39 | 44 | +12.8% |
2 Bedrooms | 308 | 444 | +44.2% |
3 Bedrooms | 701 | 977 | +39.4% |
4 Bedrooms | 700 | 1,023 | +46.1% |
5+ Bedrooms | 517 | 751 | +45.3% |
Summary: The Colorado Springs housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.8%, 2 bedroom homes increased by 44.2%, 3 bedroom homes increased by 39.4%, 4 bedroom homes increased by 46.1%, and 5+ bedroom homes increased by 45.3%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
252 | 234 | -7.1% |
Asking Price vs. Sold Price
89 Homes Were Sold
Under Asking
69 Homes Were Sold
At Asking
76 Homes Were Sold
Over Asking
Summary: A total of 234 homes were sold or pending in Colorado Springs in June 2024, down by 7.1% month-over-month. Of the 234 sold homes, 38% were sold under asking, 29% were sold at asking, and 32% were sold over asking.
Days on Market for Colorado Springs, CO
How long does it take to sell a home in Colorado Springs, CO?
Average Sale Time
May 2024 | Jun 2024 | CHANGE |
---|---|---|
29 Days | 24 Days | -17.8% |
Summary: Homes in Colorado Springs had an average of 24 days on market in Jun 2024, down by 17.8% compared to last month.
Breakdown of Home Sale Times
167 Homes Were Sold
Under 30 Days
59 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Summary: During June 2024, 234 homes were sold in Colorado Springs; 71% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.