$4,155 Closing Credit*
$349,900
2,484 SqFt
4 Beds
•1 Full Bath, 3 Partial
Douglas Marsh, Listing Office: eXp Realty, LLC
Is Colorado Springs, CO a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Colorado Springs has remained a Buyer'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
$455,000
$232/sqft
Based on all homes sold in October 2024.
Difference Since Last Month
-$25,000(-5.2%)
Key Takeaway
Homes in Colorado Springs have sold for 5.2% less than they did a month ago.
Summary: The median home sold price in Colorado Springs was $455,000 in October 2024, down 5.2% from last month, and the median price per square foot was $232.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $993.4K | $249K | -74.9% |
| 2 Bedrooms | $370K | $305K | -17.6% |
| 3 Bedrooms | $425K | $417K | -1.9% |
| 4 Bedrooms | $500K | $480K | -4.0% |
| 5+ Bedrooms | $631.9K | $657K | +4.0% |
Summary: Colorado Springs housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes decreased by 74.9%, 2 bedroom homes decreased by 17.6%, 3 bedroom homes decreased by 1.9%, 4 bedroom homes decreased by 4%, and 5+ bedroom homes increased by 4%.
Median Sold Price Compared To Nearby Cities
| Pikes Peak | $523.5K | $615K | +17.5% |
| Manitou Springs | $677K | $707.5K | +4.5% |
| Elsmere | $462.4K | $446.2K | -3.5% |
| Colorado Springs | $480K | $455K | -5.2% |
Housing Supply in Colorado Springs, CO
How many homes are available in Colorado Springs, CO?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2,770 | 3,496 | +26.2% |
Summary: The Colorado Springs real estate market had 3,496 homes for sale in October 2024, a 26.2% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 48 | 60 | +25.0% |
| 2 Bedrooms | 400 | 493 | +23.3% |
| 3 Bedrooms | 851 | 1,129 | +32.7% |
| 4 Bedrooms | 834 | 1,043 | +25.1% |
| 5+ Bedrooms | 637 | 771 | +21.0% |
Summary: The Colorado Springs housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 23.3%, 3 bedroom homes increased by 32.7%, 4 bedroom homes increased by 25.1%, and 5+ bedroom homes increased by 21%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 220 | 217 | -1.4% |
Asking Price vs. Sold Price
99 Homes Were Sold
Under Asking
66 Homes Were Sold
At Asking
52 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Colorado Springs, you may be able to get a good deal. 45.6% of homes here sold below asking price last month.
Summary: A total of 217 homes were sold or pending in Colorado Springs in October 2024, down by 1.4% month-over-month. Of the 217 sold homes, 46% were sold under asking, 30% were sold at asking, and 24% 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
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 37 Days | 40 Days | +7.6% |
Summary: Homes in Colorado Springs had an average of 40 days on market in Oct 2024, up by 7.6% compared to last month.
Breakdown of Home Sale Times
114 Homes Were Sold
Under 30 Days
76 Homes Were Sold
In 30 - 90 Days
27 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Colorado Springs are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 217 homes were sold in Colorado Springs; 53% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
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