| Housing Market Update for Colorado Springs, CO | ||
|---|---|---|
| How does the housing market look in Colorado Springs? Take a look at why homebuyers are so eager to own a home in this amazing city. View the recent home sales trends including prices, new listings, and more. |
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| Median House Price | Price Growth | Days on Market Growth |
| $450,000 | -2.3% YoY | 12 days longer |
| House Sales | Sales Growth/YoY | New Listing Growth |
| 690 | -14% | 8% |
Colorado Springs Local Market Update
Realtor.com ranks Colorado Springs, Co as the number one housing market one their list of the top real estate markets for 2025. They project a year-over-year increase in existing-home sales in 2025 of 27.1% and median price increase of 12.7%.
The state of Colorado is a much-desired state with an average selling price of $607,300, up 2.4% vs last year, showing how attractive this area of the country is. Colorado Springs may be the jewel of the state, and offers homes at about $60,000 dollars less. The good news is that if you’re buying now, the future home value is looking good too. According to the commonsenseinstituteus.org website, Colorado Springs MSA is in the top 25% (ranked 75 or higher) of all metro areas in terms of future home price appreciation.
As one of the most desirable US cities to live in, Colorado Springs provides new residents with an almost limitless number of high-quality lifestyle benefits.
The city is perfectly located, nestled in the Rocky Mountains with its natural park setting giving residents incredible views of the some of most spectacular features of the mountains. Close to the 14,000 Pikes Peak mountain and recreation area, which inspired the song “America the Beautiful”, you’re in a rare location offering a quality of life few have the good fortune to enjoy.
US Real Estate News voted it as the #3 best city in the US . The median age of residents is 37 years enjoying a median household income above $89,000 means it is an up-and-coming region, with many residents of Denver eager to relocate here.
The Attraction of Colorado Springs’ Neighborhoods
This region offers a family-friendly, low crime, sunny climate, natural beauty, and diverse lifestyle benefits keep demand for housing here strong. A military presence and a growing technology sector help to keep the region economically strong. With an upscale population of 500,000 (healthy increase of about 6,000 per year), strong job market (4.4% unemployment), and heading into a strong economy, residents are assured of the continuing value of their key real estate investment. Property taxes come in at about $1,662 annually (vs $4,707 in Dallas, Texas).
New Construction Pipeline Not Strong
Common Sense Institute Colorado shows the housing supply deficit and affordability in Colorado Springs are declining while new residents are increasing.
Home buyers in the Colorado Springs Market area are looking at price and demand trends to decide on their purchase timing.
Zillow’s home price chart above shows the strong continuous pricing reflecting the enduring value of this region.
Redfin also reported that although home prices are much higher than the national average, the cost of home utilities is significantly less (24% lower). Health care, lifestyle, and transportation are lower while groceries are just 2% higher. Housing is 11% lower in Colorado Springs compared to nearby Denver.
Cost of Living in Colorado Springs, CO is 7.1% lower than in Chicago, IL.
Opportunities to Buy in Colorado Springs
The national economic turbulence might be the top factor in your bid to own your next home. According to a number of sources (NAR, Zillow, Redfin, PPAR), home prices rose last month despite rising inventory of houses. Condo and townhouse prices rose only slightly.
Home Sales up 27.6% YoY, Home Prices up 3% YoY
The key positive news however is that the total number of houses for sale in Colorado Springs, CO rose 27.6% year over year to 2,887. During February, more than 1,000 new houses were listed for sale, a growth of 8.1% year-over-year. It’s harder for sellers to sell, as the median days on market has risen by almost 12 days compared to last year. Realtor.com data shows houses are currently on the market for 48 days while Redfin sees it at 68 days. House months of supply was 2.63, up from 1.64 months last year.
The trend to list started one year ago is showing signs of leveling off, however the current tariff and trade war with key US trading partners could result in more selling and perhaps a downgrade in local home prices.
Latest Realtor.com Report for Colorado Springs
Realtor.com reports 3670 home listings in Colorado Springs in its database. Homes for sale in Colorado Springs, CO have a median listing home price of $450,000 with an average time to sell of 70 days. The report that the most in-demand neighborhoods include Village Seven, Stetson Hills, Wolf Ranch, Briargate, and Ridgeview.
In Redfin’s Colorado Springs’ most recent local market report, they found that only 19.6% of homes sell above list price, with 30% of homes experiencing price drops (down 5.7%).
For the Pikes Peak MLS region which includes Colorado Springs, PPAR reports home sales rose 4.9% yet prices fell .8% to a median of $544,170. Total active homes for sale dropped 3.5% to 2425 units for 3.3 months of supply. New home listings dropped 3.4% to 1181 units.
Condo listings dropped slightly yet sales grew strongly by 22%. The average sales price grew 3.4% to $368,525. Condo sales are still weak.
With more new listings, growing supply, longer DOM, and slowing home and condo prices, you could say it’s leaning toward a buyer’s market. This spring of 2025 might be a great time to buy a home in Colorado Springs. There is optimism about the housing market, after this short period of economic turbulence as the United States makes a big transition to pro-US growth and repatriation of manufacturing and made in USA mandates. Colorado with its endless promise is going to be the benefactor of that economic trend.
See more on the Denver Housing market and the national housing market forecast.
