Colorado Springs CO Real Estate - Colorado Springs CO Homes For Sale | Zillow (2024)

FAQs

Are Colorado Springs home prices dropping? ›

Colorado Springs, CO housing market

The median listing home price in Colorado Springs, CO was $480K in June 2024, trending down -4% year-over-year. The median listing home price per square foot was $223. The median home sold price was $483.5K.

Is Colorado Springs, CO a buyer's or seller's market? Since last month, Colorado Springs has remained a Buyer's Market. Colorado Springs is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Investors, not homeowners, are buying more and more Colorado homes – and rents are going up. An increasing percentage of homes sold in Colorado and across the country are being bought by investors, according to data released by Stateline, an initiative of the Pew Charitable Trusts.

Spring, particularly from March to May, is widely regarded as the best time of year to list a home in Colorado. As the winter thaw begins, buyer demand often increases, with many families eager to settle into a new home before the start of the next school year.

Median Sales Price of Homes

This places Colorado's prices on the higher side, as one of the more expensive states to live in the U.S. Rising prices, interest rates, and buyer demand in the state have led to a continued unaffordability crisis in Colorado.

Much of the local market's affordability, or lack thereof, has been driven by multiple years of double-digit home value appreciation. Additionally, Justin Hermes, owner of The Property Group in Colorado Springs, said when it comes to the Pikes Peak region, housing prices are driven largely by supply and demand.

Here are some general FHA loan requirements for Colorado. A credit score of 580 or higher: A lender may accept credit scores of 500-579 under certain conditions. A credit score lower than 580 will require a larger down payment. Minimum of two years employment: Must have verifiable, steady, and consistent income.

The Colorado Springs area is one of the best places to invest in real estate in Colorado. Given that the Colorado real estate has been one of the fastest rising areas in the US, future homeowners for this area should not be surprised.

“For every 100 low-income households in the state, there are only 31 affordable and available homes. It's incumbent on all of us to work together to address Colorado's housing crisis—prioritizing homes for those most in need.

How much is the average Colorado house? ›

$550,511. The average Colorado home value is $550,511, up 1.4% over the past year and goes to pending in around 16 days.

Colorado is known for its picturesque scenery, diverse terrain, and welcoming atmosphere, and these factors all contribute to the growing cost of living within the state. Unsurprisingly, this leads to higher costs when it comes to housing – whether it be buying or renting a property.

The worst time to sell a house is typically during the winter months, particularly in December, January, and February. During this period, bad weather can deter potential buyers from attending open houses, and many people are preoccupied with holiday activities and planning.

Here's how each month of the year ranked for the best time to sell a house. The highest-earning months are, in ranking order, May, June, April and March. Just over 18 million purchase transactions took place during this period, according to ATTOM.

Average Home Prices: The average median home price in Colorado is $611,000, up by 6.3% YoY. In 2024, experts predict the median sale price will increase due to the tight inventory. Currently, the sale-to-list price ratio is at 98.5%, with a decline of 0.1 pt YoY compared to September 2022.

Average Home Prices: The average median home price in Colorado is $611,000, up by 6.3% YoY. In 2024, experts predict the median sale price will increase due to the tight inventory. Currently, the sale-to-list price ratio is at 98.5%, with a decline of 0.1 pt YoY compared to September 2022.

Colorado Springs has a strong economy that allows for ample real estate investment opportunities. The city is home to several military bases (Peterson, Schriever, Ft Carson with limited on base housing), and the US Air Force Academy.

Between 2018 and 2022, the city saw the 8th-highest growth amongst the 46 mid-sized cities that were analyzed. COS also saw the 10th-highest growth in employment rate with a 29% increase in median earnings. In addition, the city also had the 9th highest growth in education attainment.

The Job Market Is Excellent Here

So, if you are looking for a great place to live that has excellent amenities, beautiful scenery, and an excellent job market, then you should consider moving to Colorado Springs.