A plain-English look at what's happening in the Pikes Peak region real estate market right now. All data comes directly from the Pikes Peak MLS, updated daily.
Colorado Springs is currently a buyer-favoring market. Affordability constraints and softening demand are shifting leverage toward buyers. Sellers are averaging 95.9% of original asking price — well below full asking. At 3.9 months of supply, inventory is elevated.
For buyers: you have leverage to negotiate. Look for price reductions and homes that have been on market beyond 69 days — those sellers are often more motivated.
For sellers: price competitively from day one. The market is punishing overpricing. Homes that sit are selling at steeper discounts.
Median home prices have decreased 3.8% compared to a year ago — from $462,688 to $445,000.
Interest rates have moved from 6.84% to nan% over the same period.
Employment drives housing demand. Low unemployment supports home prices and faster sales.
Mortgage principal & interest on the average-priced home at that month's prevailing interest rate (30-year fixed, no down payment).
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