Market Conditions

Prices continued to rise in May, with an all time record median price of $499,000, and 3rd all time high average price of $557,050. It was particularly suprising, as the inventory of homes for sale jumped 52.5% over last year, 25% just since last month. While sales were down, but only by 8.1% from last year. The higher prices are indicative of underlying strength in this market.

Colorado Springs was recently ranked the #3 best 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.

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

  • Sales down 8.1% at 1,142 units
  • Average price up 3.8% at $557,050
  • Median price up 5.05% at $499,000
  • Inventory of unsold homes up 52.5% at 2,667 homes
  • Months supply of homes for sale 2.34
  • Pending Sales 1,520
  • Median Days on Market 13

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 5/31/24. 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

Updated as of 6/3/2024

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