Is El Paso County, CO a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing El Paso County is a buyer's market

Buyer's
Market

Difference Since May 2023

At the same time last year, El Paso County was a Seller's Market.

Key Takeaway

El Paso County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in El Paso County, CO

How much do homes in El Paso County, CO cost?

Median Sold Price

$506,854

$232/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$3,282(+0.7%)

Key Takeaway

Homes in El Paso County have sold for 0.7% more than they did a year ago.

Summary: The median home sold price in El Paso County was $506,854 in May 2024, up 0.7% from last year, and the median price per square foot was $232.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $235K$252.5K
+7.4%
2 $330.5K$326K
-1.4%
3 $420K$435K
+3.6%
4 $530K$559K
+5.5%
5+ $697.5K$715K
+2.5%

Summary: El Paso County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.4%, 2 bedroom homes decreased by 1.4%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 5.5%, and 5+ bedroom homes increased by 2.5%.

Median Sold Price Compared To Nearby Counties

El Paso County
+0.7%
Douglas County
-1.1%
Elbert County
-11.8%

Housing Supply in El Paso County, CO

How many homes are available in El Paso County, CO?

Number of Homes For Sale

Apr 2024May 2024CHANGE
2,4403,815+56.4%

Summary: The El Paso County real estate market had 3,815 homes for sale in May 2024, a 56.4% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 3557
+62.9%
2 270448
+65.9%
3 7891,193
+51.2%
4 7341,180
+60.8%
5+ 612937
+53.1%

Summary: The El Paso County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 62.9%, 2 bedroom homes increased by 65.9%, 3 bedroom homes increased by 51.2%, 4 bedroom homes increased by 60.8%, and 5+ bedroom homes increased by 53.1%.

Number of Homes Sold

Apr 2024May 2024CHANGE
231316+36.8%

Asking Price vs. Sold Price

106 Homes Were Sold
Under Asking

124 Homes Were Sold
At Asking

86 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in El Paso County, expect to pay close to the asking price. 39.2% of homes here sold near the asking price last month.

Summary: A total of 316 homes were sold or pending in El Paso County in May 2024, up by 36.8% month-over-month. Of the 316 sold homes, 34% were sold under asking, 39% were sold at asking, and 27% were sold over asking.

Days on Market for El Paso County, CO

How long does it take to sell a home in El Paso County, CO?

Average Sale Time

May 2023May 2024CHANGE
24 Days31 Days+29.7%

Summary: Homes in El Paso County had an average of 31 days on market in May 2024, up by 29.7% compared to last year.

Breakdown of Home Sale Times

213 Homes Were Sold
Under 30 Days

78 Homes Were Sold
In 30 - 90 Days

25 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in El Paso County are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 316 homes were sold in El Paso County; 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

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