Is El Paso County, CO a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing El Paso County is a buyer's market

Buyer's
Market

Difference Since March 2023

At the same time last year, El Paso County was a Seller's Market.

Key Takeaway

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

Housing Prices in El Paso County, CO

How much do homes in El Paso County, CO cost?

Median Sold Price

$489,230

$231/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

-$6,154(-1.2%)

Key Takeaway

Homes in El Paso County have sold for 1.2% less than they did a year ago.

Summary: The median home sold price in El Paso County was $489,230 in March 2024, down 1.2% from last year, and the median price per square foot was $231.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $212K$269.9K
+27.3%
2 $340.9K$330K
-3.2%
3 $429.8K$429.7K
0%
4 $525.6K$542.7K
+3.3%
5+ $674.4K$672.8K
-0.2%

Summary: El Paso County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 27.3%, 2 bedroom homes decreased by 3.2%, 3 bedroom homes did not change, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes decreased by 0.2%.

Median Sold Price Compared To Nearby Counties

Teller County
+1.8%
Pueblo County
+1.3%
Douglas County
-0.5%
El Paso County
-1.2%
Elbert County
-3.8%

Housing Supply in El Paso County, CO

How many homes are available in El Paso County, CO?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
2,0722,923+41.1%

Summary: The El Paso County real estate market had 2,923 homes for sale in March 2024, a 41.1% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 3645
+25.0%
2 233350
+50.2%
3 7361,013
+37.6%
4 621887
+42.8%
5+ 446628
+40.8%

Summary: The El Paso County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 50.2%, 3 bedroom homes increased by 37.6%, 4 bedroom homes increased by 42.8%, and 5+ bedroom homes increased by 40.8%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
268270+0.7%

Asking Price vs. Sold Price

134 Homes Were Sold
Under Asking

71 Homes Were Sold
At Asking

65 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in El Paso County, you may be able to get a good deal. 49.6% of homes here sold below asking price last month.

Summary: A total of 270 homes were sold or pending in El Paso County in March 2024, up by 0.7% month-over-month. Of the 270 sold homes, 50% were sold under asking, 26% were sold at asking, and 24% were sold over asking.

Days on Market for El Paso County, CO

How long does it take to sell a home in El Paso County, CO?

Average Sale Time

Mar 2023Mar 2024CHANGE
46 Days48 Days+5.1%

Summary: Homes in El Paso County had an average of 48 days on market in Mar 2024, up by 5.1% compared to last year.

Breakdown of Home Sale Times

160 Homes Were Sold
Under 30 Days

52 Homes Were Sold
In 30 - 90 Days

58 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in El Paso County are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 270 homes were sold in El Paso County; 59% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 21% 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 17 Days Ago

Newest Listings in El Paso County, CO

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