Is Colorado Springs, CO a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Colorado Springs was a Seller's Market.
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
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
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $210K | $260K | +23.8% |
2 Bedrooms | $332K | $323.9K | -2.4% |
3 Bedrooms | $420K | $419.5K | -0.1% |
4 Bedrooms | $504.9K | $524.7K | +3.9% |
5+ Bedrooms | $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 | $740K | $850K | +14.9% |
Elsmere | $464.2K | $474.9K | +2.3% |
Colorado Springs | $474.5K | $464.8K | -2.1% |
Pikes Peak | $639.9K | $625K | -2.3% |
Manitou Springs | $689K | $667.5K | -3.1% |
Housing Supply in Colorado Springs, CO
How many homes are available in Colorado Springs, CO?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
1,556 | 2,223 | +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
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 32 | 41 | +28.1% |
2 Bedrooms | 199 | 306 | +53.8% |
3 Bedrooms | 563 | 777 | +38.0% |
4 Bedrooms | 462 | 668 | +44.6% |
5+ Bedrooms | 300 | 431 | +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 2024 | Mar 2024 | CHANGE |
---|---|---|
209 | 189 | -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
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 2023 | Mar 2024 | CHANGE |
---|---|---|
43 Days | 48 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
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.