Colorado Springs Housing Market Today

Here's the latest news about the Colorado Springs real estate market. Every month, we update this page with the most recent data from our local MLS. If you're moving to Colorado Springs and have questions about our local real estate market, please let us know. We specialize in local housing market data, and we enjoy talking about it.

The Current State of the Housing Market in Colorado Springs
*Updated on November 4th, 2021

Average Sales Price:

*18.0% year-over-year increase
Average Sales Price in October 2020: $432,477

Median Sales Price:

*16.3% year-over-year increase
Median Sales Price in October 2020: $383,447

SUMMARY: The median home price is the most common sales price of all the homes sold in El Paso / Teller Counties from last month's sales in October of 2021. The average sales price is the combined average of all sold properties in El Paso / Teller Counties and Colorado Springs, CO, for the same period.

  • Total Active Listings in Colorado SpringsThere were only 1,048 active real estate listings in Colorado Springs last month. There were 881 active listings last year at this time. That's a 19.0% increase in available homes for sale in one year.

  • New Versus Sold Listings in Colorado SpringsThere were 1,596 new listings submitted to our MLS last month. That was a 2.4% increase from the previous year. There were 1,641 homes sold last month, a 5.3% decrease year-over-year.

    • Days on Market in Colorado SpringsThe average days-on-the-market for homes listed in October 2021 was 21 days. That's a 46.5% drop from this same time last year.

10-Year Home Price Trend in Colorado Springs

10 Year Price Trend in Colorado Springs

The 10-year home price trend reflects the median sales price for October 2021, going back 10 years. Colorado Springs has been on a 10-year price increase with no end in sight. Inventory is slowly creeping back up, which will eventually slow this price increase trend.

10-Year Active Inventory Trend in Colorado Springs

10 Year Price Trend in Colorado Springs

The 10-year active inventory trend reflects the active homes for sale for October 2021, going back 10 years. The stability of our local housing market is based on the available homes for sale and the number of active buyers currently looking for a home. Inventory is slowly coming back, but not fast enough to slow prices down.


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

Strong Sellers Market in Colorado SpringsColorado Springs is in the strongest seller's market that we have ever seen. There were only 1,048 homes for sale last month. The COVID-19 pandemic, lumber costs, and limited builder availability have all put a huge strain on our inventory. Sellers are not comfortable selling their homes right now, even with record sales prices. Mortgage loan pre-approval requests have also dropped slightly.

The speed of our local market is causing some folks to try and sell their home without a Realtor (FSBO). Buyers are desperate and willing to try many different tactics to get their offers accepted

When is the best time to buy a home in Colorado Springs?

The best time of the year to buy a home in Colorado Springs would be in December or January, as our market slows down for the winter during these months. The median home price tends to drop in the Winter. June is the peak of our local market with the highest median sales price for the year.

These trends can always change, but they hold true for the average selling season. Our local home sales in Colorado Springs typically double from the depths of Winter to the peak of Summer. 2021 is very unusual and is not following the normal trend.

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, feel free to contact us. ?

*Based on information from the Pikes Peak REALTOR® Services Corp. ("RSC"), for the period October 1, 2021, through October 30, 2021. 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.

Recent Blog Posts About Our Local Market

  • The Best Areas to Buy a House in Colorado Springs Based Off of Market Appreciation

    This extensive article visually tracks our local market appreciation.

  • 22 Things To Know Before Moving To Colorado Springs

    Learn about the unique aspects of living in Colorado Springs.

  • Best Neighborhoods in Colorado Springs

    This article covers twelve of our favorite neighborhoods in Colorado Springs.

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