Welcome to mid-August 2026 in Colorado Springs. The summer is marching on, the calendar is still packed with events, and some major pieces of community news have landed in the last week and a half. From the newly approved Elevate Downtown master plan to the confirmed arrival of Emerald Ash Borer in the city, there is a lot to catch up on.

Here is your complete mid-August update: breaking community news, a refreshed market snapshot, what is happening this week and next, infrastructure progress, and a look at what is ahead this fall.

Breaking Community News

Elevate Downtown Master Plan Approved

On August 4, Colorado Springs City Council voted to approve the Elevate Downtown master plan, a sweeping new blueprint for the city's urban core developed by the Downtown Development Authority. The plan targets $2.5 billion in investment over the next decade, focusing on new housing, green spaces, business development, and cultural amenities in the downtown area. This is the most significant downtown planning document in a generation and signals strong confidence in the continued growth and vitality of central Colorado Springs. For anyone considering a downtown purchase or investment, this plan adds a powerful long-term tailwind to property values and quality of life.

Southeast Strong Neighborhood Plan Adopted

On July 28, City Council adopted the Southeast Strong Neighborhood Plan, a community-driven vision for the future of southeast Colorado Springs neighborhoods including Deerfield Hills, Pikes Peak Park, Soaring Eagles, Southborough, and Spring Creek. The plan outlines a long-term framework for investment in infrastructure, parks, housing, and economic development in this part of the city. For buyers and investors, this is a signal that the southeast side is on the city's radar for meaningful improvements in the years ahead.

Emerald Ash Borer Confirmed in Colorado Springs

On August 5, the invasive Emerald Ash Borer (EAB) was officially detected in Colorado Springs. This destructive pest poses a serious threat to the city's ash tree population. Property owners with ash trees on their land should begin planning for treatment or removal now. The city is coordinating with state forestry officials on management strategies. If you are buying a home with mature ash trees, this is a factor to discuss with your inspector and agent.

Transportation Safety Action Plan Finalized

The city has finalized a comprehensive Transportation Safety Action Plan aimed at improving pedestrian and cyclist safety across Colorado Springs. This plan dovetails with the ongoing Tejon Street revitalization, Colorado Avenue improvements in Old Colorado City, and the new school zone safety upgrades at 21 schools across the city. For homebuyers who prioritize walkability, these improvements are a positive sign that the city is investing in safer streets.

Market Snapshot: Mid-August 2026

The Colorado Springs real estate market continues to show a balanced, healthy profile as we move through August. Here is the latest picture based on the most recent data:

Median home price: $467,000 — According to Redfin and Zillow, the median sale price in Colorado Springs has settled around $450K-$467K, reflecting a modest 1-2% year-over-year adjustment. The average sale price across the region sits at approximately $577,000 as higher-end sales balance out the mix.
Average days on market: 43-58 days — Homes are selling at a steady, measured pace. The latest CAR report shows an average of 45 days on market, with some homes moving faster when priced competitively.
Active listings: 5,600+ — With roughly 5,600-5,800 active listings across the region, buyers continue to enjoy strong selection. Inventory levels remain elevated compared to the tight markets of 2020-2023.
About 14% of homes sell above asking — While most homes are selling at or below list price, a slice of well-positioned, competitively priced properties are still drawing multiple offers.
Market activity: 1,148 homes sold in June — Sales activity was up 15.9% year-over-year in June 2026, signaling continued demand even as the pace of sales remains measured.
Year-to-date outlook — Analysts project flat to 3% price growth for the full year 2026. The market is described as "balanced" with no dramatic swings expected. This is a healthy, sustainable market that rewards thoughtful buyers and strategic sellers.

For a full neighborhood-by-neighborhood breakdown, visit my complete market report page.

This Week and Beyond: Events August 10-23, 2026

Mid-August is one of the busiest stretches on the Colorado Springs events calendar. Here is what is happening now and coming up:

Bear Creek Plein Air (August 9-18) — An outdoor painting event at Bear Creek Park. Watch local and visiting artists capture the beauty of this iconic Colorado Springs natural area on canvas. Free to observe.
Sammy Hagar at Ford Amphitheater (August 13) — The Red Rocker is bringing his tour to Colorado Springs for what promises to be an unforgettable night of classic rock hits. If you haven't grabbed tickets, check resale platforms.
Pioneer Rodeo & Demolition Derby (August 14-16) — A signature Colorado Springs tradition at Norris Penrose Event Center. Three days of PRCA rodeo action, live music, and the crowd-favorite demolition derby. This is a family-friendly weekend that brings the whole community together.
Woodland Park Rock, Gem & Jewelry Show (August 15-17) — Held in nearby Woodland Park, this show features vendors from across the region showcasing rocks, gems, minerals, and handcrafted jewelry. A fun day trip from the Springs.
Colorado Springs Greek Festival (August 20-22) — Authentic Greek cuisine, live music, traditional dancing, and cultural exhibits at the Assumption of the Theotokos Greek Orthodox Church. One of the most beloved annual traditions in the city.
Colorado Springs Comic Con (August 21-23) — At the Broadmoor World Arena. Celebrity appearances, cosplay, vendor hall, and pop culture events drawing thousands of fans from across the region.
Switchbacks FC vs. El Paso Locomotive (August 21) — USL Championship soccer at Weidner Field. Professional soccer in one of the best stadium venues in the league.
Ongoing: Colorado Farm & Art Market (Wednesdays) — Through October 9 at Alamo Square Park, 3-7 pm. Fresh produce, artisan goods, and live music in a beautiful downtown setting.
Ongoing: Summer Night Series in Old Colorado City (Thursdays) — Free live music at Bancroft Park continues through the summer. A neighborhood staple that brings the community together.

New Business Openings & Community Highlights

Creel Family $50M Pecan Processing Plant — Announced for Peak Innovation Park, this major agribusiness investment will bring jobs and economic activity to the region. It is part of a growing trend of food and agriculture businesses choosing Colorado Springs for expansion.
The Surf Shack Indoor Wave Pool (Northgate) — Slated to open later this year, this indoor surf park is one of the most anticipated new attractions in the area. With a wave pool, surf school, restaurant, and event space, it will be a year-round destination for families and adventure seekers in the northern corridor.
Guthrie's Chicken Fingers — Still generating buzz since its July 14 opening at 1520 S. Nevada Ave. This fast-growing chain's first Colorado location has been drawing enthusiastic crowds for its hand-battered chicken fingers and tangy signature sauce.
New retail space absorbed — The Colorado Springs commercial market absorbed 115,000 square feet of new retail space in the past year, and 228,000 square feet of new retail space was added, signaling strong business confidence and consumer demand in the region.

Infrastructure Tracker: Progress Report

Here is the latest on the infrastructure projects shaping Colorado Springs:

Airport Road & Powers Boulevard Diverging Diamond — NOW OPEN. Traffic flow has improved dramatically at one of the busiest intersections on the east side.
I-25 Improvements (Fillmore to Garden of the Gods) — CDOT's work to add acceleration and deceleration lanes and reconstruct the bridge over Ellston Street is expected to complete by early fall 2026. This stretch serves daily commuters and visitors heading to the westside.
Tejon Street Revitalization — Phase 1 enhancements (Colorado Avenue to Kiowa Street) are now complete. New granite crosswalks, fresh paving, and landscaping have transformed the downtown corridor.
Academy Boulevard Traffic Impacts — Ongoing road work continues to cause delays on Academy Boulevard. Plan for extra travel time if this is your regular route.
Fountain Boulevard Construction — Traffic impacts continue from construction activity on Fountain Boulevard. Check CDOT updates before heading out.
8th Street Water Main Replacement — A water main installation delay has extended the overall construction timeline on this important westside corridor. Traffic lanes remain impacted.
Woodmen Road Improvements — The planning phase is underway for improvements on Woodmen Road from Powers Boulevard to US 24. This is a major east-west corridor that serves a growing part of the city.
Circle Drive Bridge Replacement — Final stages of this four-bridge replacement project are nearing completion, anticipated by fall 2026. These bridges are critical infrastructure connecting the west and south sides of the city.
2C Paving Program — Approximately 125 lane miles across 109 segments are being improved this year under the voter-approved 2C program, with major work completed on South Circle Drive, Palmer Park Boulevard, and Union Boulevard.

Neighborhood Pulse Check: Mid-August 2026

Here is the latest on what different areas of Colorado Springs are experiencing:

Downtown / Central: The Elevate Downtown master plan approval is the biggest story here. With $2.5 billion in planned investment over the next decade — housing, green space, businesses, and culture — downtown Colorado Springs is positioning itself for transformative growth. Tejon Street is revitalized, Draper Commons Phase Three continues construction on 200 middle-class apartments, and the OneVela Tower (27 stories, 400 units, $225 million) remains on track for a construction start by year's end. If you have been thinking about downtown living, the long-term outlook has never been stronger.
Far East Side (Banning Lewis Ranch, Powers corridor): The diverging diamond interchange at Airport and Powers is fully open and transforming east-side commutes. The 5,000-home Banning Lewis Ranch expansion continues through the approval process. New construction buyers should keep this corridor on their radar for upcoming phases and builder incentives.
Northeast (Briargate, Cordera, Wolf Ranch): Steady demand driven by Academy District 20 schools as back-to-school season arrives. The Douglass Elementary rebuild grant ($42.7 million) reinforces the district's reputation. Cordera moves toward its final phases with move-up and semi-custom homes.
South/Southwest (Fountain, Security, Fort Carson area): Fort Carson's anticipated expansion of 13,000+ new personnel continues to drive housing demand in this corridor. The Southeast Strong Neighborhood Plan signals that the city is committed to investment in the southeast side. For buyers and investors, this area offers compelling value with strong long-term fundamentals.
Monument / Northgate: Lewis-Palmer District 38 remains a top draw for families. Forest Lakes and newer communities in the Northgate area offer mountain views and premium school access. The Surf Shack wave pool opening later this year will add a major new amenity to this corridor.
Westside / Old Colorado City / Manitou: Limited inventory continues to make this one of the most competitive areas when homes come to market. Colorado Avenue test-phase improvements and walkability upgrades keep this area highly desirable. Bear Creek Plein Air is a reminder of the natural beauty that makes the westside so special.
Falcon / Peyton: Wolf Ranch and Parcheron remain active with newer construction at competitive prices. Excellent value for buyers who want modern homes without premium price tags. The Woodmen Road improvements in planning will eventually improve connectivity for this growing corridor.

What This Means for Buyers, Sellers, and Investors

If you are buying: Mid-August is an excellent time to be a buyer in Colorado Springs. With 5,600+ active listings, stable prices, and a measured pace of sales, you have real choices and negotiating room. The Elevate Downtown plan, Fort Carson expansion, and Banning Lewis Ranch growth are all powerful long-term signals that Colorado Springs is investing in its future. Buying now means getting in before the next wave of appreciation. Get pre-approved, know your priorities, and let's find your best home.

If you are selling: With roughly 14% of homes still selling above asking, well-priced and well-presented properties continue to find buyers. Homes that are priced correctly from day one, professionally staged, and marketed effectively are still generating strong showings and solid offers. The 5,600+ active listings mean buyers have options, so your home needs to stand out. If you are thinking about selling this fall, now is the time to start preparing your home and planning your marketing strategy.

If you are investing: The Elevate Downtown plan alone is a multi-billion-dollar signal that the city's urban core is attracting major investment. The Fort Carson expansion adds a demographic tailwind to south-side rental demand. The multifamily construction pipeline is winding down, which historically supports rent growth as new supply tightens. Southeast Colorado Springs, with the new Strong Neighborhood Plan and relatively affordable entry prices, presents compelling long-term potential.

Whether you are buying, selling, investing, or just curious about what is happening in Colorado Springs, I am here to help. Contact me today and let's talk about your real estate goals. Thank you, talk to you soon!

Mid-August 2026: Colorado Springs Community News, Market Update & What's Ahead