Is Pikes Peak, CO a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Pikes Peak is a buyer's market

Buyer's
Market

Difference Since Last Month

Since last month, Pikes Peak has remained a Buyer's Market.

Key Takeaway

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

Housing Prices in Pikes Peak, CO

How much do homes in Pikes Peak, CO cost?

Median Sold Price

$999,950

$398/sqft

Based on all homes sold in May 2024.

Difference Since Last Month

-$495,050(-33.1%)

Key Takeaway

Homes in Pikes Peak have sold for 33.1% less than they did a month ago.

Summary: The median home sold price in Pikes Peak was $999,950 in May 2024, down 33.1% from last month, and the median price per square foot was $398.

Median Sold Price By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 --
N/A
2 --
N/A
3 -$999.9K
N/A
4 $1.4M-
N/A
5+ $1.1M-
N/A

Summary: Pikes Peak housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Manitou Springs
+41.4%
Pikes Peak
-33.1%

Housing Supply in Pikes Peak, CO

How many homes are available in Pikes Peak, CO?

Number of Homes For Sale

Apr 2024May 2024CHANGE
3345+36.4%

Summary: The Pikes Peak real estate market had 45 homes for sale in May 2024, a 36.4% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 03
+100.0%
2 48
+100.0%
3 1516
+6.7%
4 610
+66.7%
5+ 88
0.0%

Summary: The Pikes Peak housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
31-66.7%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Pikes Peak, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.

Summary: A total of 1 homes were sold or pending in Pikes Peak in May 2024, down by 66.7% month-over-month. Of the 1 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.

Days on Market for Pikes Peak, CO

How long does it take to sell a home in Pikes Peak, CO?

Average Sale Time

Apr 2024May 2024CHANGE
106 Days26 Days-75.5%

Summary: Homes in Pikes Peak had an average of 26 days on market in May 2024, down by 75.5% compared to last month.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Pikes Peak are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 1 homes were sold in Pikes Peak; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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 3 Days Ago

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MLS Disclaimers and Copyright

Based on information from Pikes Peak MLS / Colorado Springs Realtor Services Corp., and REColorado for the period 04/01/2024 - 06/01/2024

IDX The real estate listing information and related content displayed on this site is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any offer of compensation is made only to Participants of the PPMLS. This information and related content is deemed reliable but is not guaranteed accurate by the Pikes Peak REALTOR® Services Corp.

Copyright © 2024 Pikes Peak Association of REALTORS® and PIKES PEAK REALTOR® Services Corp. All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 6/4/2024, 5:20:54 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

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Last updated on: 6/4/2024, 5:12:49 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

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