Is Colorado Springs, CO a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Colorado Springs is a buyer's market

Buyer's
Market

Difference Since Last Month

Since last month, Colorado Springs has remained a Buyer's Market.

Key Takeaway

Colorado Springs is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

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

+$8,450(+1.8%)

Key Takeaway

Homes in Colorado Springs have sold for 1.8% more than they did a month ago.

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

# BEDSMay 2024Jun 2024CHANGE
1 $225K-
N/A
2 $325K$342.5K
+5.4%
3 $435K$449K
+3.2%
4 $545K$515K
-5.5%
5+ $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
+2.1%
Colorado Springs
+1.8%
Cheyenne Mountain
-21.6%
Manitou Springs
-26.3%
Pikes Peak
-49.5%

Housing Supply in Colorado Springs, CO

How many homes are available in Colorado Springs, CO?

Number of Homes For Sale

May 2024Jun 2024CHANGE
2,2653,239+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

# BEDSMay 2024Jun 2024CHANGE
1 3944
+12.8%
2 308444
+44.2%
3 701977
+39.4%
4 7001,023
+46.1%
5+ 517751
+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 2024Jun 2024CHANGE
252234-7.1%

Asking Price vs. Sold Price

89 Homes Were Sold
Under Asking

69 Homes Were Sold
At Asking

76 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Colorado Springs, you may be able to get a good deal. 38% of homes here sold below asking price last month.

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 2024Jun 2024CHANGE
29 Days24 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

Breakdown of Home Sale Times

Key Takeaway

Many homes in Colorado Springs are selling fast, if you're buying plan to act quickly.

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 26 Days Ago

Newest Listings in Colorado Springs, CO

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