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 May 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

$475,075

$232/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$75(0.0%)

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 $475,075 in May 2024, the same as last year, and the median price per square foot was $232.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $223.5K$260K
+16.3%
2 $326.5K$325.5K
-0.3%
3 $410K$429.7K
+4.8%
4 $502.5K$538K
+7.1%
5+ $632.5K$691K
+9.2%

Summary: Colorado Springs housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.3%, 2 bedroom homes decreased by 0.3%, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 9.2%.

Median Sold Price Compared To Nearby Cities

Colorado Springs
0.0%
Elsmere
-1.2%

Housing Supply in Colorado Springs, CO

How many homes are available in Colorado Springs, CO?

Number of Homes For Sale

Apr 2024May 2024CHANGE
1,8592,917+56.9%

Summary: The Colorado Springs real estate market had 2,917 homes for sale in May 2024, a 56.9% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 3348
+45.5%
2 234390
+66.7%
3 587907
+54.5%
4 566911
+61.0%
5+ 439661
+50.6%

Summary: The Colorado Springs housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 45.5%, 2 bedroom homes increased by 66.7%, 3 bedroom homes increased by 54.5%, 4 bedroom homes increased by 61%, and 5+ bedroom homes increased by 50.6%.

Number of Homes Sold

Apr 2024May 2024CHANGE
186238+28.0%

Asking Price vs. Sold Price

78 Homes Were Sold
Under Asking

88 Homes Were Sold
At Asking

72 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Colorado Springs, expect to pay close to the asking price. 37% of homes here sold near the asking price last month.

Summary: A total of 238 homes were sold or pending in Colorado Springs in May 2024, up by 28.0% month-over-month. Of the 238 sold homes, 33% were sold under asking, 37% were sold at asking, and 30% 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

May 2023May 2024CHANGE
20 Days30 Days+45.7%

Summary: Homes in Colorado Springs had an average of 30 days on market in May 2024, up by 45.7% compared to last year.

Breakdown of Home Sale Times

160 Homes Were Sold
Under 30 Days

59 Homes Were Sold
In 30 - 90 Days

19 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 May 2024, 238 homes were sold in Colorado Springs; 67% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 8% 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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