Colorado Springs Market Information
March 2026 – Pikes Peak Region
AVERAGE SALE PRICE
$539,720
▼ 4.1% YoY
MEDIAN SALE PRICE
$475,000
▼ 4.0% YoY
CLOSED SALES
1,036
▼ 2.2% YoY
DAYS ON MARKET
61
▼ 1.6% YoY
MONTHS SUPPLY
3.0
▲ 20.0% YoY
Single Family & Patio Homes Market Analysis
Current Market Conditions: March 2026 brought the expected spring surge to the Pikes Peak region. Closed sales jumped to 1,036 units, up sharply from January’s winter lull of 637 sales. Months supply dropped to 3.0 from 4.5 in January, pulling the overall market back toward balanced territory as buyers returned. Prices softened year-over-year – the average sale price of $539,720 is down 4.1%, and the median is down 4.0% to $475,000. Active inventory continues to grow, now at 3,057 homes (up 16.3% from last March), while homes are moving in 61 days on average. New listings climbed 4.9% as sellers anticipate the busier spring and summer selling season.
Year-Over-Year Market Changes
Average and Median Price Trend
Price Trend Analysis: Over the last 13 months, average prices peaked in July 2025 at $574,276 before softening through the fall and winter to a February low of $524,494. March 2026 shows a modest rebound to $539,720 as spring buyer activity returned. Median prices followed a similar seasonal pattern, peaking at $500,000 in June 2025 and dipping to $460,000 in December before ticking back up to $475,000 in March. Year over year, March 2026 pricing sits about 4% below March 2025 – a gentler correction than headlines might suggest.
Inventory Trend – Homes For Sale
Inventory Analysis: Active inventory follows the classic seasonal rhythm – rising from 2,629 homes last March to a summer peak of 4,227 in July 2025, then easing through fall and winter to 2,837 in December. The spring build has already begun – March 2026 closed at 3,057 active homes, up from 2,926 in February. Closed sales jumped from just 637 in January to 1,036 in March, a 63% monthly surge that pulled months supply down from 4.5 to 3.0. March 2026 active inventory is still 16.3% ahead of March 2025, so supply is running well above last year as the spring season ramps up.
Absorption Rate by Price Range
The absorption rate measures how quickly homes are selling. Rates above 20% indicate a seller’s market, while rates below 15% suggest a buyer’s market.
Price Range Analysis: The spring market is red hot in the $300K-$500K range, where absorption rates of 48-68% indicate strong seller’s market conditions. The $500K-$800K segment remains healthy at 31-37%, still well above the 20% seller’s market threshold. Homes between $800K and $1.25M are balanced (16-22% absorption), while properties above $1.25M are firmly in buyer’s market territory at 8-9% – luxury buyers at that level have strong leverage to negotiate.
Price Negotiations – March 2026
Overall, 18% of homes (165 out of 916) sold above asking price in March 2026, while 65% (599 homes) sold below asking price, and 17% sold at list price. Compared to February, when 16% sold over asking, competition continues to increase as spring activity ramps up.
Homes Sold Over Asking Price by Price Range
| Price Range | Total Sold | Sold Over Asking | % Over Asking |
|---|---|---|---|
| $900K – $1M | 20 | 5 | 25% |
| $300K – $400K | 187 | 37 | 20% |
| $500K – $600K | 169 | 33 | 20% |
| $400K – $500K | 267 | 51 | 19% |
| $700K – $800K | 69 | 11 | 16% |
| $1M and Up | 49 | 8 | 16% |
| $200K – $300K | 29 | 4 | 14% |
| $600K – $700K | 97 | 14 | 14% |
| $800K – $900K | 22 | 2 | 9% |
| $0 – $200K | 7 | 0 | 0% |
Days Supply by Price Range – Single Family Homes
Days supply indicates how long it would take to sell all current inventory at the current sales pace. Lower numbers indicate faster-moving markets.
Inventory Analysis: The fastest-moving segments are $300K-$400K (71-82 days supply) and $400K-$500K (101 days) – these are the core move-in markets where first-time and move-up buyers concentrate. Mid-range homes from $500K-$800K carry 112-139 days of supply, still in a healthy range. Above $800K, supply climbs sharply – $800K-$900K sits at 230 days, and the ultra-luxury market ($1.5M+) has 310-960 days of inventory, representing significant negotiating opportunity for buyers willing to move up market.
Market Outlook – Spring 2026
On the Ground: The spring market has arrived in force – sales volume jumped 63% from January to March, bringing months supply back under 3.0. Well-priced homes in the $300K-$600K range are drawing multiple offers and closing over asking. Overpriced homes still sit. Sellers in move-up and luxury price points should plan for longer marketing windows and negotiation. Buyers have more inventory than a year ago but face growing competition in the mid-market sweet spot.
For Buyers
- 65% of homes still sold below asking – negotiation is alive in most price bands
- Inventory is up 16.3% year-over-year – more choice than last spring
- Luxury homes ($800K+) are firmly in buyer’s market territory with strong leverage
- In the $300K-$600K sweet spot, be pre-approved and ready to move fast
- Expect 19-20% of mid-market homes to sell over asking in competitive segments
For Sellers
- Spring momentum is real – closed sales jumped 63% from January to March
- Price correctly on day one – overpriced homes sit and trigger price cuts
- $300K-$500K homes are moving fastest (71-101 days supply)
- New listings are up 4.9% – competition among sellers is growing
- Above $800K, be ready for longer marketing time and buyer concessions
- Staging, presentation, and sharp pricing will win this spring
Condos & Townhomes Market
MEDIAN PRICE
$312,000
▼ 14.5% YoY
AVERAGE PRICE
$338,333
▼ 10.3% YoY
CLOSED SALES
131
▼ 7.7% YoY
DAYS ON MARKET
81
▲ 12.5% YoY
Condo Market Highlights: The condo and townhome market remains firmly in buyer-friendly territory. At 4.7 months of supply (up 23.7% year-over-year), inventory well outpaces demand. Median prices fell 14.5% to $312,000, and average prices dropped 10.3% to $338,333. Closed sales dipped 7.7% to 131 units while active listings climbed 15.3% to 617. Homes are now taking 81 days to sell on average, up 12.5% from last March. Condo buyers have strong leverage right now, especially in the $400K-$700K segments where days supply runs 244-338 days.
Data Source: Pikes Peak REALTOR Services Corp. (RSC) | March 2026
Market data for residential properties in El Paso County and Teller County, Colorado.
Market data for residential properties in El Paso County and Teller County, Colorado.
**Information gathered from the Pikes Peak MLS is deemed reliable but not guaranteed