Colorado Springs Housing Market Update: November 2026

The Colorado Springs Real Estate Market Update

SUMMARY: These prices come from October 2026 home sales across El Paso and Teller Counties. The median is the middle sale price, with half of homes selling above it and half below. The average adds up all sale prices and divides by the number of homes sold, so a few large sales can pull it up. For a typical home price in Colorado Springs, the median is a better guide.

There were 4,110 homes for sale in October 2026, up 5% from 3,918 a year earlier. Buyers have more homes to choose from than at any October in the last decade.

Sellers added 1,203 new listings in October, down 13% from 1,389 last year. Sales fell to 816 homes, down 7% from 876. Fewer owners are listing, and fewer buyers are closing.

Days on market counts how long a home stays listed before it goes under contract. In October 2026, that average was 57 days, up from 54 days a year earlier. Homes are taking about three days longer to sell.

Home prices peaked in 2023 and have eased since.

The October median climbed from about $280,000 in 2017 to its 2023 high. It has slipped a little each year since, and this year's $455,000 is close to 2021 levels.

Prices have barely moved for four years while groceries, insurance, and other costs kept rising. In real dollars, that means homes cost a little less than they did at the peak. Owners who bought from 2017 to 2020 are still well ahead on equity.

Inventory has doubled since 2019.

October's 4,110 active listings are about twice the October 2019 count and nearly five times the 2020 low. Each year since 2023 has set a new October high on this chart.

Listings did dip from September, when the Colorado Association of REALTORS reported a record 4,253 single-family and patio homes for sale. Some sellers pull their homes off the market as winter approaches, so the year-over-year number is the better trend line.

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October sales were less than half of the 2020 high.

The region closed about 1,750 sales in October 2020 and 816 this October, the lowest October on this chart. Affordability is the main reason. Prices stayed near their peak while mortgage rates rose, so the monthly payment on a typical home is much higher than it was in 2020 and 2021.

Slow sales also leave some neighborhoods with only a few recent closings to compare against. That makes pricing harder, and a home priced off old comps can stay on the market longer. An experienced listing agent can broaden the comp search and price against today's competition. Fewer competing buyers also give first-time buyers and move-up buyers more time to tour homes and schedule inspections.

Is Colorado Springs in a buyer's or seller's market right now?

Colorado Springs is in a soft buyer's market. In October, the Pikes Peak region recorded 816 home sales, down 7% from 876 a year earlier. Active listings rose 5% to 4,110 over the same period, for about 5.0 months of supply.

A six-month supply is the usual marker for a balanced market, so the supply number alone is still a little short of it. Price cuts show that buyers already have leverage. In September, 46.4% of active El Paso County listings had a price reduction, according to the Colorado Association of REALTORS. Homes also took 57 days to go under contract on average in October, up from 54 a year earlier.

What sellers should do differently

Price the home correctly from day one. Across Colorado in September, homes that needed a price cut spent a median of 68 days on the market, compared with 9 days for homes that did not. A short pre-listing checklist helps you fix the small items buyers would otherwise use to negotiate.

Plan for concession requests too. Nearly 64% of Colorado sales in September included seller concessions, so decide how much closing-cost or rate-buydown help you can offer before the home goes live.

Where buyers have more room

Buyers can take more time to compare homes and ask for repairs or closing-cost help. Well-priced homes from the start can still attract multiple buyers. If you end up competing, our guide to getting an offer accepted covers what makes a seller say yes.

Military buyers can also consider homes with assumable VA loans, which let a qualified buyer take over the seller's lower interest rate. Our buyer representation team can pull the price-cut history on any home you are watching.

What we expect this winter

Prices are easing, not collapsing. The October median sale price was $455,000, down 4% from $473,500 a year earlier. Prices have drifted lower since their 2023 peak. Winter usually brings fewer new listings and fewer sales, so spring listings will give the next clear read on inventory.

Mortgage rates and inventory will set the pace into 2027. If listings keep climbing faster than sales, expect more price cuts. If rates ease and more buyers return, the extra inventory could be absorbed without a larger price drop.

We update these numbers monthly using Pikes Peak REALTOR data. To see what they mean for a specific neighborhood or price range, call or text us at 719-357-7366.

Our real estate agents at Great Colorado Homes enjoy discussing the local market with anyone interested in learning about it. If you have any questions, please contact us.

*Based on information from the Pikes Peak REALTOR® Services Corp. ("RSC"), for the period October 1, 2026, through October 31, 2026. RSC does not guarantee or is in any way responsible for its accuracy. Data maintained by RSC may not reflect all real estate activity in the market.