Colorado Springs Market Update: What's Actually Happening Right Now
Forget the national headlines. Here's what the data shows for Colorado Springs — and what it means if you're buying or selling this summer.
National real estate headlines are written for national audiences. Colorado Springs doesn't always follow national trends — our market is driven by local factors that the national data doesn't capture. Here's what's actually happening here.
What's Happening Right Now
Want the most current numbers? We publish a live market report powered by Altos Research that updates weekly — far more current than any snapshot we could print here. Here's what we're seeing on the ground:
The Colorado Springs market continues to show resilience. Home prices have remained relatively steady with modest appreciation compared to a year ago. Inventory has increased compared to the tight years of 2021-2022, giving buyers more options — but well-priced homes in desirable neighborhoods still move quickly.
What's Driving the Market
Three forces are shaping Colorado Springs right now:
- Military PCS cycle. Fort Carson and the Space Force bases bring a steady stream of buyers every summer. June through August is peak PCS season, and it affects inventory and competition in military-friendly neighborhoods.
- Remote work migration. Colorado Springs continues to attract buyers from higher-cost markets — California, the Pacific Northwest, and the Northeast. They get more home for their money here, plus access to the outdoors and a lifestyle that's hard to beat.
- Interest rates. Rates have settled into a range that's higher than the pandemic lows but manageable for most buyers. The real impact is on monthly payments — even a small change in rate can affect your affordability by hundreds of dollars per month. We'll help you understand exactly what a rate change means for your specific budget.
For Buyers
This is a more balanced market than we've seen in years. You have more options, more time to make decisions, and more room to negotiate. That said, the best homes in the best neighborhoods still attract multiple offers. Being pre-approved, knowing your budget, and having an agent who can move quickly still matters.
For Sellers
The days of listing any home at any price and getting multiple offers are behind us — at least for now. Today's sellers need to price accurately, present their home well, and market aggressively. Homes that are priced right and show well are still selling quickly. Homes that are overpriced are sitting. The difference is strategy.
"There are no emergencies in real estate. The market does what the market does. Our job is to give you the information you need to make the best decision for your situation — and then execute it well."
— Jeff Morrell
What We're Watching
New construction continues to be a major factor in the Springs. Builders are offering incentives that resale sellers can't match — rate buydowns, closing cost credits, and upgraded finishes. If you're open to new construction, it's worth exploring. If you're selling a resale home, we need to understand how your home competes with new builds in your price range.
The luxury segment remains active, particularly in Flying Horse, Black Forest, and the Monument corridor. Out-of-state buyers with equity from higher-cost markets are fueling demand in this price range. For a full picture of current pricing across these neighborhoods, check our live market report.