Is Pikes Peak, 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, Pikes Peak was a Seller's Market.
Key Takeaway
Pikes Peak is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Pikes Peak, CO
How much do homes in Pikes Peak, CO cost?
Median Sold Price
$625,000
$305/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Pikes Peak have sold for 2.3% less than they did a year ago.
Summary: The median home sold price in Pikes Peak was $625,000 in March 2024, down 2.3% from last year, and the median price per square foot was $305.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $272.5K | N/A |
| 2 Bedrooms | $390K | $508K | +30.3% |
| 3 Bedrooms | $654K | $625K | -4.4% |
| 4 Bedrooms | $695K | $575K | -17.3% |
| 5+ Bedrooms | $754.9K | $855K | +13.2% |
Summary: Pikes Peak housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 30.3%, 3 bedroom homes decreased by 4.4%, 4 bedroom homes decreased by 17.3%, and 5+ bedroom homes increased by 13.2%.
Median Sold Price Compared To Nearby Cities
| Cascade | $540K | $611K | +13.1% |
| 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 Pikes Peak, CO
How many homes are available in Pikes Peak, CO?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 20 | 29 | +45.0% |
Summary: The Pikes Peak real estate market had 29 homes for sale in March 2024, a 45.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 9 | 10 | +11.1% |
| 4 Bedrooms | 6 | 9 | +50.0% |
| 5+ Bedrooms | 2 | 6 | +200.0% |
Summary: The Pikes Peak housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 200%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 2 | +100.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Pikes Peak, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Pikes Peak in March 2024, up by 100.0% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Pikes Peak, CO
How long does it take to sell a home in Pikes Peak, CO?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 151 Days | 89 Days | -41.0% |
Summary: Homes in Pikes Peak had an average of 89 days on market in Mar 2024, down by 41% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Pikes Peak are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 2 homes were sold in Pikes Peak; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
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