Colorado Springs Market Shifts Toward Buyers: October 2026
More than 4,000 homes are on the market, the most in over a decade, and about half of listings have cut their price. Here's what October's shift means for you.
The first market reports of October say what many local buyers and sellers have been feeling for weeks: Colorado Springs has shifted into a buyer-friendly market.
More than 4,000 homes are currently listed in the city, the most in over a decade, and across El Paso County about half of all active listings have cut their asking price. That sounds dramatic, and in some ways it is. But markets shift all the time, and this one comes with real opportunities on both sides of the table. Here is what the data actually says, and what it means for you.
What the October Numbers Show
Reports published the first week of October put El Paso County's median list price at about $479,250, with the median sale price near $465,000, essentially flat compared with a year ago. Inventory sits at roughly 3.3 months of supply, higher than we have seen in years. Local market data for El Paso County as of early October 2026 shows homes averaging about 99 days on the market, with a median of 70 days. Around 50.7% of current listings have reduced their price at some point.
Then there is the number nobody likes: the average 30-year fixed mortgage rate climbed back to about 7.28% at the start of October, up from 6.34% a year earlier. Rates are a big reason the market cooled, and they are also why "buyer's market" should not be read as "every home is a steal." Affordability still comes down to your rate and the specific home.
For Buyers: You Finally Have Choices
With 4,000-plus homes on the market, buyers in most price ranges can take their time, compare neighborhoods, and negotiate. Price reductions are common, and builders are competing hard with rate buydowns and incentives. Well-priced homes still move fast, sometimes in days, so getting pre-approved still matters.
October is also an ideal month to scout areas. Arts Month runs citywide all month, the Colorado Springs Home Show is October 15-17, and community events like Boo at the Zoo at Cheyenne Mountain Zoo and the Emma Crawford Coffin Races in Manitou Springs on October 24 bring whole neighborhoods to life on the weekends.
For Sellers: Price It Right on Day One
The homes selling in this market are priced correctly from the start. The ones sitting are the ones that started too high and then chased the market down with cuts. If you are selling, put your energy into condition, curb appeal, and an honest, data-backed price. Against 4,000 other listings, a well-priced home stands out instead of fading into the scroll.
Why this matters: Buyers have toured homes for years under pressure to move fast and overpay. October is the first time in a while that both sides can operate with some calm. Prices are off their peaks in several neighborhoods, but a good deal still starts with honest expectations, not hoping the market will swing back overnight.
Where Does Your Situation Fit in This Market?
There are no emergencies in real estate. Whether you are buying, selling, or just wondering what your home is worth in this market, we will walk you through the October numbers and give you a straight answer. That is the part of this job we love.
Text us at 719-499-9394 or Book a free consultation.
Jeff & Lane Morrell | eXp Realty
Market data researched and current as of October 8, 2026, from public sources including market reports published the first week of October 2026, Realtor.com/FRED median list price data for El Paso County, Redfin housing market data, and Freddie Mac mortgage rate surveys. Figures change weekly and vary by neighborhood and price range.
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