Colorado Springs
Market Report

For buyers: The Colorado Springs market continues to offer a balanced, buyer-friendly environment, and September closing data now confirms the same shape. The Pikes Peak Association of Realtors' September 2026 snapshot shows 1,101 closed sales with a median sale price of $450,000, essentially flat from August's $449,000, while listing medians run closer to $495,000 to $500,000. Redfin's trailing three-month median lands near $460,000, down about 3.2% year over year, and Zillow's average home value reading sits near $450,850, down about 2.0%. The average sale price sits near $568,600, down about 1% year over year. Median days on market have stretched to roughly 42 to 48 days, about nine days longer than a year ago, and inventory stands around 4,300 homes with supply near 3.8 months. On October 4, The Gazette characterized the market as shifting toward buyers, with rising inventory, declining sales, and higher interest rates keeping activity measured. Prices have held essentially flat for about four years, which has given buyers genuine selection and negotiating room, while about 14% of homes still sell above asking for well-positioned properties. Get pre-approved, know your priorities, and work with an agent who knows the neighborhoods. This market rewards thoughtful buyers.

For sellers: Pricing correctly from day one is the single most important factor. With inventory around 4,300 homes, supply near 3.8 months, and roughly half of active listings carrying a price adjustment at some point, buyers have choices and discipline. About 14% of listings are still selling above original list price, showing that demand exists for the right homes. The Elevate Downtown master plan ($2.5 billion approved August 4), Fort Carson expansion, and Banning Lewis Ranch growth are all positive long-term signals. If you are considering selling, let's look at the data together and set a strategy that gets results.

For the community: Colorado Springs continues to grow at a measured, sustainable pace. The Elevate Downtown master plan was approved on August 4, targeting $2.5 billion in housing, green space, business, and cultural investment downtown over the next decade. On September 8, the City Council approved the new plan to develop more than 1,100 acres of Banning Lewis Ranch, including roughly 5,000 planned homes, with construction already underway. It is the biggest new-housing story in the region. New Accessory Dwelling Unit (ADU) rules are now in place across all single-family residential zones, adding flexible living and income potential for homeowners. Fort Carson is preparing for a major expansion expected to add roughly 13,000 military and civilian personnel plus 18,000 family members, driving housing demand in the south corridor. New affordable housing projects, including Draper Commons with roughly 500 middle-class and affordable units downtown (the 185-unit Bristow House among them), plus Bentley Commons Phase II (168 units southeast) and Arrowleaf Senior Housing (110 senior apartments), are adding options. On September 18, the Downtown Partnership reported more than $2.6 billion invested downtown over the past decade, and it is backing Issue 7A, the "Colorado Connector" passenger-rail ballot measure that would place a downtown station near the U.S. Olympic & Paralympic Museum within the 82-acre Park Union area. County mail ballots for the November 3 general election go out in mid-October, with Issue 7A on the ballot. In October the multi-year Creek Plan moved into neighborhood meetings intended to reimagine Fountain and Monument creeks with America the Beautiful Park as a catalyst. L.L. Bean opened at the Promenade Shops at Briargate this fall (the first Colorado Springs store), and Capriotti's Sandwich Shop is reopening two locations, with the Creekwalk space at 140 E. Cheyenne Rd. scheduled for October. Easy's Record Store opened on Tejon Street on September 10, and a third Barnes & Noble is planned at First & Main on the east side. A new neighborhood, Bradley Heights, has emerged as a homebuilding hotspot at Marksheffel and Bradley Roads, and Flying Horse Land Company is progressing a mixed-use plan on roughly 1,800 acres near Schriever Air Force Base after initial county approval. The mayor's office is closing Meadows Park Community Center in October as part of city budget measures following the approved $427.3 million General Fund budget. Ruxton Avenue improvements are underway in Manitou Springs. The Airport Road & Powers Boulevard diverging diamond interchange is fully open. Academy District 20 received a $42.7 million federal grant to rebuild Douglass Elementary on the Air Force Academy. The Southeast Strong Neighborhood Plan was adopted July 28. Community-First Data Center Standards were approved August 14. The OneVela 27-story apartment tower is on track to begin construction by end of 2026. Las Vegas Street $30 million wastewater upgrade is underway. The Kelker Substation $140 million expansion continues. And on September 22, City Council voted 5-4 to dissolve the Old Colorado City Downtown Development Authority, closing the chapter on a funding mechanism formed in 2024 whose mill levy never passed. Updated October 12, 2026.