Revolutionizing · Modernizing · Simplifying
Revolutionizing · Modernizing · Simplifying
Two houses on the same block. Same square footage, same year built, roughly the same shape. One goes under contract in nine days. The other one sits. And sits. Seventy five days later the sign is still swinging in the wind and the price has been cut twice.
That is the Colorado Springs market this fall. Not one market. Two.
Most people do not realize how sharp that split has gotten. The Colorado Association of REALTORS dropped its August 2026 report on September 15, and the headline read like a slow tip toward buyers. Sales down, prices holding. Fine. But the number underneath the number is where the real story lives, and it is this: a well priced, well presented home in the Springs is going under contract in under ten days right now, while a good chunk of listings are camping out at 75 days or more.
Same city. Same week. Wildly different outcomes.
Here is the thing about the average sale price dipping 3.3% across the Pikes Peak region. That is not the whole market losing value. A big piece of that is spring sellers who priced ambitious, listed high back when they thought they could name their number, and still have not cut to meet where buyers actually are. So they drag the average down while they sit. The market moved. They did not.
And you can see it in the price cut data, which is honestly wild. In the last 30 days, 57.14% of Pikes Peak listings dropped their price. That is up almost 20 points from a year ago. More than half the sellers in the region reached for the marker.
But look at this right here, because it cuts the other way too. In that same 30 days, 42.86% of homes sold above list price. That is up more than 30 points year over year. So you have got half the market slashing prices and nearly half the market getting bid over asking, at the same time, in the same town.
That is what two speed means. Price it right, stage it right, and buyers pounce. Price it on hope, and you become a case study in days on market.
Now the part that actually matters if you are selling. More than 67% of Colorado Springs area homes that closed in August 2026 included a seller concession. Median value,
Read that again. Two out of three sellers are paying something at the closing table. Rate buydowns, closing costs, repair credits, whatever it takes to bridge the gap between the sticker and the deal. Ten grand is basically the cost of admission now. If you are listing this fall and you have not built a concession into your math, you are going to feel it.
That is not a crash. That is a negotiation returning to the table after a few years where sellers barely had to show up.
Let me lay the region out clean, because the sources mostly agree.
Inventory across the Pikes Peak MLS was up 3.6% year over year in August, but essentially flat since July. One local brokerage counted roughly 4,317 homes for sale back in July, flat for a third straight month, at about a 3.8 month supply. Sales were down about 6% from August 2025.
On price, it depends who you ask and what window they use. Orchard's rolling 30 day data pegs the Pikes Peak median sale price at $369,500, up 1.7% year over year. Meanwhile one national valuation site put the average Springs home value at $450,850 as of late May, down about 2% on the year. Median versus average, different snapshots, but you get the range.
The one that stopped me cold: median days on market in the Pikes Peak area fell to 22, down from 38.5 a year earlier. So homes are actually moving faster overall. That sounds like a hot market until you remember the flip side. The average is 22 because the good ones fly and the overpriced ones sit. The middle got hollowed out.
Median sale to list ratio landed at 98.19%, down less than a point from last year. Buyers are getting a hair more room, not a fire sale.
People up here in Denver love to assume the Springs just does whatever Denver does, one beat behind. Not this fall. Denver has its own inventory story and its own price story. Colorado Springs is running its own play, driven by the Pikes Peak region and tracked through the elevate MLS and its 4,000 plus REALTOR members. Different supply picture, different buyer pool, different math on concessions.
So if you are watching this market from the north, or thinking about a move south, do not import Denver assumptions. Around 70 miles down I-25 the rules are their own.
Price to the market, not to your neighbor's Christmas card. The homes going in ten days are not lucky. They are priced honestly and presented like someone cared. Everything else is renting a yard sign for two and a half months.
And budget the concession. Ten thousand is the median for a reason. Plan for it, bake it in, and you keep the leverage. Ignore it, and it gets negotiated out of you later, usually for more.
Two speeds. Pick the fast one.