Market Conditions

All 4 key indicators we typically track, including average price, median price, sales, and unsold inventory, increased this month, indicating the Colorado Springs market is coming back to life.

Interest rates have ticked up a little as a result of disappointing Consumer Price Index data in February, but we believe this is a temporary setback. While the market eagerly awaits for even more reductions in mortgage rates, winter buyers are beginning to clear the shelves of inventory. The rate of new pending transactions is currently exceeding the rate of new listings on a weekly basis.
Colorado Springs continues to be ranked highly as a place to live by US News and World report, a reminder that upward pressure may continue for some time on our market. Recent new job announcements in the area will also continue to add housing demand, as well as the recent announcement that Space Command Headquarters will be remaining here after all. This week’s announcement of yet another high tech / high pay employer (Invictus) expanding here is further proof of economic health

Here is a brief summary of some of the January data:

  • Sales up 1.8%
  • Average price up 2.2% at $511,273
  • Median price up 3.6% at $455,950
  • Inventory of unsold homes up 26% at 1,816 homes
  • Months supply of homes for sale 2.29
  • Pending Sales 1,216

For more details, see the Colorado Springs Homes Sales Trend Data


“Based on information from the Pikes Peak REALTOR Services Corp. (“RSC”), for the period 1/1/23 through 1/31/24. RSC does not guarantee or is in any way responsible for its accuracy. Data maintained by RSC may not reflect all real estate activity in the market.” Copyright © 2024 REALTOR® Services Corp. Questions about this data analysis should be directed to Rick Van Wieren, RE/MAX Properties, Inc, 1915 Democracy Pt, Colorado Springs, CO 80908 ph 719-331-7675 or email vanwierenrick@gmail.com

Updated as of 3/1/2024

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