Is Colorado Springs, CO a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Colorado Springs was a Seller's Market.
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
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
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $223.5K | $260K | +16.3% |
2 Bedrooms | $326.5K | $325.5K | -0.3% |
3 Bedrooms | $410K | $429.7K | +4.8% |
4 Bedrooms | $502.5K | $538K | +7.1% |
5+ Bedrooms | $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 | $475K | $475K | 0.0% |
Elsmere | $474.9K | $469K | -1.2% |
Housing Supply in Colorado Springs, CO
How many homes are available in Colorado Springs, CO?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
1,859 | 2,917 | +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
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 33 | 48 | +45.5% |
2 Bedrooms | 234 | 390 | +66.7% |
3 Bedrooms | 587 | 907 | +54.5% |
4 Bedrooms | 566 | 911 | +61.0% |
5+ Bedrooms | 439 | 661 | +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 2024 | May 2024 | CHANGE |
---|---|---|
186 | 238 | +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
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 2023 | May 2024 | CHANGE |
---|---|---|
20 Days | 30 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
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.