Market Conditions

Colorado Springs average home price hit an all time record in May of $319.969. The median also hit an all time high of $280,000. Half of the homes closed in May were under contract in 5 days or less. The months supply of homes for sale is only 1.15. Homes sales are undoubtedly now being held back by lack of inventory. With prices off to such a strong start, look for the inventory to improve as the Spring market develops. Also look for new construction, much of which is not reflected in these figures, to help bridge the gap.

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

  • Sales up 9% at 1,632 units
  • Average price up 10.2% at $319,969
  • Median price up 10.9% at $280,000
  • Inventory of unsold homes down 18.3% at 1,875 homes (this is extremely low)
  • Months supply of homes for sale 1.15 (6 is considered ‘normal’)
  • Pending Sales 2,526 (down 9.1% over last year at this time)

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 1/1/05 through 5/31/17 . 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 © 2016 REALTOR® Services Corp. Questions about this data analysis should be directed to Rick Van Wieren, RE/MAX Properties, Inc, 1740 Chapel Hills Dr, Colorado Springs, CO 80920 ph 719-331-7675 or email

Updated as of 6/1/2017

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