Colorado Springs Real Estate | Springs Homes
Springs Homes Real Estate

Colorado Springs Housing Market

El Paso County Colorado Real Estate Market Statistics

The Pikes Peak region consists of a number of towns, cities, and areas. We monitor the entire region but we start with El Paso County, Colorado because it encompasses the majority of the region and gives us an accurate perspective on the overall real estate market condition.
Here are the Current market statistics for El Paso County, Colorado. This includes Colorado Springs, Monument, Palmer Lake, Manitou Springs, and Fountain.

Median Sales Price | Single Family and Patio Homes

The Median Sales Price in the Colorado Springs housing market stays strong, even with high-interest rates and a shaky economy. Here's what's happening: a lot of folks bought their homes during the 2020-2021 boom when interest rates were super low. They might have paid a bit more than they planned, but they locked in amazing rates, somewhere around 2.5% to 3%. Now, if they were to buy in today's market, they'd be looking at rates over 6%. That's a big jump! So, many are sitting tight and not selling. They don’t want to lose their great rates and end up with a less impressive home because prices are still high. Basically, until the people who snagged those low rates are ready to move for other reasons, we might not see a big shift in the market. It's all about timing and what makes financial sense for homeowners right now.

Median Sales Price - All of El Paso County, Colorado

$450,000

+1.12% vs. Jan 2023

Median Sales Price - Cities in El Paso, County

City
Jan , 2024
Nov, 2022
% Change
Colorado Springs
$440,000
$429,000
+2.56%
Fountain
$412,500
$397,000
+3.90%
Manitou Springs
$563,000
$435,000
+29.43%
Monument
$701,500
$700,000
+0.21%
Palmer Lake
$765,000
$379,900
+101.37%
Updated: Jan , 2024

Number of Sales | Single Family and Patio Homes

The number of sales in November is at its lowest point in the last ten years. We are attributing this to high-interest rates combined with stubbornly high sales prices. As we mentioned earlier, those homeowners who bought in the low-interest rate environment of the last number of years aren't feeling motivated to move. Until we see rates and/or prices come down, we anticipate a lower number of sales than normal.

Number of Sales - All of El Paso County, Colorado

481 Sales

Updated: Jan , 2024
-17.64% vs. Jan 2023

Number of Sales- Cities in El Paso, County

City
Jan , 2024
Nov, 2022
% Change
Colorado Springs
382
462
-17.32%
Fountain
18
32
-43.75%
Manitou Springs
4
1
+300.00%
Monument
18
23
-21.74%
Palmer Lake
3
1
+200.00%
Updated: Jan , 2024

New Listings | Single Family and Patio Homes

New Listings - All of El Paso County, Colorado

733 New Listings

Updated: Jan , 2023

Average Days on Market | Single Family and Patio Homes

Average Days on Market - All of El Paso County, Colorado

55 Days

Updated: Jan , 2024

Months of Inventory | Single Family and Patio Homes

Months of Inventory - All of El Paso County, Colorado

3.6 Months

Updated: Jan , 2024
menu-circle
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram