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 April 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

$475,000

$232/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

-$833(-0.2%)

Key Takeaway

The sold price of homes in Colorado Springs has remained the same since last year.

Summary: The median home sold price in Colorado Springs was $475,000 in April 2024, down 0.2% from last year, and the median price per square foot was $232.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $223.5K$330K
+47.7%
2 $330K$330K
0.0%
3 $412.5K$420K
+1.8%
4 $505K$530K
+5.0%
5+ $634.6K$691K
+8.9%

Summary: Colorado Springs housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 47.7%, 2 bedroom homes did not change, 3 bedroom homes increased by 1.8%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 8.9%.

Median Sold Price Compared To Nearby Cities

Cheyenne Mountain
+45.3%
Elsmere
+0.9%
Colorado Springs
-0.2%

Housing Supply in Colorado Springs, CO

How many homes are available in Colorado Springs, CO?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
1,3102,342+78.8%

Summary: The Colorado Springs real estate market had 2,342 homes for sale in April 2024, a 78.8% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 2637
+42.3%
2 167298
+78.4%
3 447777
+73.8%
4 407711
+74.7%
5+ 263519
+97.3%

Summary: The Colorado Springs housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 42.3%, 2 bedroom homes increased by 78.4%, 3 bedroom homes increased by 73.8%, 4 bedroom homes increased by 74.7%, and 5+ bedroom homes increased by 97.3%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
29179+517.2%

Asking Price vs. Sold Price

69 Homes Were Sold
Under Asking

51 Homes Were Sold
At Asking

59 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. 38.5% of homes here sold below asking price last month.

Summary: A total of 179 homes were sold or pending in Colorado Springs in April 2024, up by 517.2% month-over-month. Of the 179 sold homes, 39% were sold under asking, 28% were sold at asking, and 33% 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

Apr 2023Apr 2024CHANGE
24 Days30 Days+28.4%

Summary: Homes in Colorado Springs had an average of 30 days on market in Apr 2024, up by 28.4% compared to last year.

Breakdown of Home Sale Times

127 Homes Were Sold
Under 30 Days

34 Homes Were Sold
In 30 - 90 Days

18 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 April 2024, 179 homes were sold in Colorado Springs; 71% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 10% 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 1 Day Ago

Newest Listings in Colorado Springs, CO

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