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 March 2023

At the same time last year, Colorado Springs was a Seller'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

$464,807

$230/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

-$9,741(-2.1%)

Key Takeaway

Homes in Colorado Springs have sold for 2.1% less than they did a year ago.

Summary: The median home sold price in Colorado Springs was $464,807 in March 2024, down 2.1% from last year, and the median price per square foot was $230.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $210K$260K
+23.8%
2 $332K$323.9K
-2.4%
3 $420K$419.5K
-0.1%
4 $504.9K$524.7K
+3.9%
5+ $634.1K$630.2K
-0.6%

Summary: Colorado Springs housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.8%, 2 bedroom homes decreased by 2.4%, 3 bedroom homes decreased by 0.1%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes decreased by 0.6%.

Median Sold Price Compared To Nearby Cities

Cheyenne Mountain
+14.9%
Elsmere
+2.3%
Colorado Springs
-2.1%
Pikes Peak
-2.3%
Manitou Springs
-3.1%

Housing Supply in Colorado Springs, CO

How many homes are available in Colorado Springs, CO?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
1,5562,223+42.9%

Summary: The Colorado Springs real estate market had 2,223 homes for sale in March 2024, a 42.9% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 3241
+28.1%
2 199306
+53.8%
3 563777
+38.0%
4 462668
+44.6%
5+ 300431
+43.7%

Summary: The Colorado Springs housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 28.1%, 2 bedroom homes increased by 53.8%, 3 bedroom homes increased by 38%, 4 bedroom homes increased by 44.6%, and 5+ bedroom homes increased by 43.7%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
209189-9.6%

Asking Price vs. Sold Price

89 Homes Were Sold
Under Asking

49 Homes Were Sold
At Asking

51 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. 47.1% of homes here sold below asking price last month.

Summary: A total of 189 homes were sold or pending in Colorado Springs in March 2024, down by 9.6% month-over-month. Of the 189 sold homes, 47% were sold under asking, 26% were sold at asking, and 27% 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

Mar 2023Mar 2024CHANGE
43 Days48 Days+11.3%

Summary: Homes in Colorado Springs had an average of 48 days on market in Mar 2024, up by 11.3% compared to last year.

Breakdown of Home Sale Times

111 Homes Were Sold
Under 30 Days

37 Homes Were Sold
In 30 - 90 Days

41 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 March 2024, 189 homes were sold in Colorado Springs; 59% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 22% 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 25 Days Ago

Newest Listings in Colorado Springs, CO

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