Prices, inventory, and demand — distilled every month into one clear verdict: buyer’s market or seller’s. The investor’s read, before you make an offer.
The median asking price in Pagosa Springs is about $721,000 as of Sep 2026, down 5.7% from a year ago. The typical listing is 5% smaller than a year ago, and asking price per square foot is up 1.7%. So the size of homes on the market explains much of the drop. That is the asking price on listed homes, so sold-price and home-value sites show different numbers (why).
Yes, if you negotiate. Buyers have more room in Pagosa Springs than usual. Compared with 2017–2019 at this time of year, 25% of sellers have cut their price, against 15% then, and there are 13 pending sales per 100 listings, against 16 then. Sellers are competing harder for you than they used to. Use it.
Pagosa Springs asking prices per square foot were above the year before in 77% of months since the data starts. Within a year, the cheapest and priciest months differ by about 9.5%. That is bigger than the yearly trend, so timing your purchase matters here. Nothing in Pagosa Springs's numbers is far from its own normal. Your return comes from the property and the price you negotiate.
The median asking price is 25.0% below its Jan 2022 peak. Per square foot the gap is smaller: 4.5% below the May 2025 high. Part of the drop is smaller homes coming to market. Prices stopped falling about a year ago. They are flat now. Waiting will not get you a cheaper house. It might still get you a more motivated seller. Pagosa Springs prices have risen in 86 of the last 111 months. Drops here have been short and shallow. Buying in a slow month has rarely hurt a long hold.
The discount is already here. It is not getting bigger. Buy now while sellers are still weak. Waiting for a lower price stopped working a year ago.
For every 100 homes still for sale, 13 are under contract. In 2017–2019 at this time of year it was 16. The rest are still waiting for a buyer. About 1 in 4 sellers has already dropped their price. Each one has learned their first price was too high. Start your offer below their new price.
Pagosa Springs listings spend a median 106 days on the market. That is 13% longer than a year ago. There are 276 homes for sale in Pagosa Springs. That is 8.1 times the tightest month on record, but below the peak of 357. Supply is steady against last year.
Only 20 out of every 100 Pagosa Springs households rent. This is an owners' town. The renter share is shrinking. Five years ago it was 28 in 100. Renter households here average 2.5 people. Families rent here. Buy bedrooms. Studios will sit.
Households grew 1% in five years. The housing stock grew 5%. Supply is outrunning demand. 40.4% of homes sit empty. Tenants have options. Budget extra weeks of vacancy between leases.
The median Pagosa Springs household earns $84,270 a year. Incomes here have grown 10.1% a year since 2019. Incomes are rising faster than home prices. Affordability is improving. A typical home costs 8.6 times the median income. Most locals cannot buy. That keeps rental demand deep. It also caps the rent they can pay. At 30% of income, a tenant on the median income can pay about $2,107 a month.
To see what one Pagosa Springs address would rent for and cash flow, run it through the app.
Ranked among the 38 Colorado markets we track:
Read how rent-to-price works and how we read these numbers, then run the numbers on a deal.
The median asking price in Pagosa Springs is about $721,000 as of Sep 2026, down 5.7% from a year ago. The typical listing is 5% smaller than a year ago, and asking price per square foot is up 1.7%. 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 Pagosa Springs figures cover the 2 ZIP codes with a Pagosa Springs mailing address, which can reach past city limits.
Buyers have more room in Pagosa Springs than usual. We compare Pagosa Springs with 2017–2019 at this time of year: 25% of sellers have cut their price, against 15% then; there are 13 pending sales per 100 listings, against 16 then; listings spend 20% more days on the market.
The median asking price is 25.0% below its Jan 2022 peak. Per square foot the gap is smaller: 4.5% below the May 2025 high. Part of the drop is smaller homes coming to market. Prices stopped falling about a year ago. They are flat now. Waiting will not get you a cheaper house. It might still get you a more motivated seller.
Across 9 full years, Pagosa Springs asking prices ran lowest in May, about 3.6% below the year's average. They peaked in December. The most homes for sale show up in July, about 35% above the yearly average.
Assume +2.4% a year. Pagosa Springs grew 7.3% a year over the decade. Ignore that rate. Most of it landed in the 2020 and 2021 boom. Without the boom, Pagosa Springs grows about 2.4% a year. That is the number to type in. Prices rose 1.7% over the last year. Use it for timing. The five-year rate is the better guide.
HUD's fiscal year 2026 fair market rent for Archuleta County is $1,337 a month for 2 bedrooms and $1,859 for 3 bedrooms. The figures include tenant-paid utilities and cover the whole county.
Closest matches on asking price, price per square foot, time on market, buyer demand, and price cuts.
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