Colorado Springs, Colorado Housing Market

What stands out in Colorado Springs?

• Homes for sale are 94% above 2017–2019: among the biggest inventory build-ups since 2017–2019 of 765 tracked cities. Buyers have far more choice than before the pandemic.
• Asking prices swing about 4.0% between the cheapest and priciest months: among the flattest seasonal prices of 765 tracked cities. The month you buy matters little here.
• Against its own 2017–2019, Colorado Springs leans further toward buyers than most tracked cities: among the strongest buyers’ markets against their own normal of 765 tracked cities. Buyers have unusual room right now.

How much more is for sale in Colorado Springs than before the pandemic?

There are 3,021 homes for sale in Colorado Springs, 94% more than in 2017–2019 at this time of year. That count is up 11% on last year, with 872 new listings this month. The build-up is biggest in 80903 (84 for sale, 245% above its 2017–2019 level) and 80928 (11 for sale, 230% above its 2017–2019 level). More choice means you can walk away from any home priced for the market of three years ago.

How much can you negotiate in Colorado Springs?

For every 100 homes still for sale, 31 are under contract. In 2017–2019 at this time of year it was 57. The rest are still waiting for a buyer. About 1 in 3 sellers has already dropped their price. Each one has learned their first price was too high. Start your offer below their new price.

The typical Colorado Springs listing has been on the market 66 days. That is 6% longer than a year ago. There are 3,021 homes for sale in Colorado Springs. That is the most in ten years. It is 9 times the low of Jan 2021. Every one of them competes with the house you want.

What to do about it

• Start in 80903, 80928, and 80921, the softest ZIP codes in Colorado Springs: in 80903, 38% of sellers have cut and the typical listing has been up 95 days.
• Filter for listings older than 90 days with a price cut, and offer below the reduced price.
• Keep your inspection and financing contingencies.

How does Colorado Springs compare with other Colorado markets?

Ranked among the 38 Colorado markets we track:

• Asking price: 7th cheapest of 38. Colorado Springs is at $456,532. Closest: Aurora and Grand Junction.
• Buyer competition: 7th most competitive of 33. Colorado Springs is at 0.31 buyers per home. Closest: Lafayette and Longmont.
• Time on market: 18th longest time on market of 38. Colorado Springs is at a median of 66 days on market. Closest: Golden and Pueblo.
• Price cuts: 11th most price cuts of 38. Colorado Springs is at 32% of sellers cutting. Closest: Parker and Commerce City.

When do Colorado Springs prices dip?

Across 9 full years, Colorado Springs asking prices ran lowest in January, about 2.0% below the year's average. They peaked in May. The most homes for sale show up in August, about 27% above the yearly average. Shop in August for choice, and expect the softest asking prices in January.

Is now a good time to buy in Colorado Springs?

The median asking price is 16.8% below its May 2023 peak. Per square foot the gap is smaller: 5.1% below the Jun 2024 high. Part of the drop is smaller homes coming to market. Prices are rising again. Every month you wait costs money. The question is no longer when. It is which house. Colorado Springs prices have risen in 88 of the last 111 months. Drops here have been short and shallow. Buying in a slow month has rarely hurt a long hold.

This market is turning. Which way is not settled yet. Check the monthly numbers above before you commit.

What numbers should you underwrite a Colorado Springs deal with?

• Price growth to assume — +1.2%/yr. Colorado Springs grew 6.4% a year over the decade. Ignore that rate. Most of it landed in the 2020 and 2021 boom. Without the boom, Colorado Springs grows about 1.2% a year. That is the number to type in. Prices rose 2.7% over the last year. Use it for timing. The five-year rate is the better guide.
• Months of carrying cost — 3. Budget at least 66 days of holding costs, the current median listing age, when you exit or refinance. That is 6% longer than a year ago.
• Odds you cut your price to sell — 1 in 3. 32% of Colorado Springs listings have cut their asking price. Underwrite your exit below asking.
• Comp on price per square foot — $230/sqft. The typical Colorado Springs listing shrank from 3,088 to 2,250 sqft since Jul 2016. So median price hides real growth: 86% per sqft versus 41% on the median. Comp on median price and you will overpay for small homes.
• Competition when you exit — +11%. Homes for sale in Colorado Springs are up 11% on last year, so your resale faces more competition than today's comps did.

Read what days on market tells you about leverage and how we read these numbers, then run the numbers on a deal.

What is the median home price in Colorado Springs?

The median asking price in Colorado Springs is about $457,000 as of Sep 2026, down 4.0% from a year ago. The typical listing is 5% smaller than a year ago, and asking price per square foot is up 2.7%. So the size of homes on the market explains much of the drop. This is the asking price on homes listed for sale. Sites that report sold prices or estimated home values will show a different number. Our Colorado Springs figures cover 50 of the 51 ZIP codes with a Colorado Springs mailing address, so citywide counts such as homes for sale run low.

Is Colorado Springs a buyer's or seller's market in 2026?

Buyers have more room in Colorado Springs than usual. We compare Colorado Springs with 2017–2019 at this time of year: there are 94% more homes for sale; there are 31 pending sales per 100 listings, against 57 then; the typical listing has been up 50% more days.

Are Colorado Springs home prices going up or down?

The median asking price is 16.8% below its May 2023 peak. Per square foot the gap is smaller: 5.1% below the Jun 2024 high. Part of the drop is smaller homes coming to market. Prices are rising again. Every month you wait costs money. The question is no longer when. It is which house.

Which Colorado Springs ZIP code has the most negotiating room?

80903. Only 14 homes under contract for every 100 still for sale. 38% of sellers there have cut their price, and the typical listing has been up 95 days.

What is the fair market rent in Colorado Springs?

HUD's fiscal year 2026 fair market rent for El Paso County is $1,735 a month for 2 bedrooms and $2,413 for 3 bedrooms. The figures include tenant-paid utilities and cover the whole county.