If you've been following national housing headlines, you've likely seen reports suggesting that sellers now outnumber buyers by the largest margin ever recorded. While those headlines grab attention, local market data tells a much more complete story.
Here in Colorado Springs and throughout El Paso County, the latest Elevate MLS and FHFA data show a market that is shifting, but not collapsing.
Home Sales Are Increasing
Through May 2026, 4,820 single-family and patio homes have sold in the Pikes Peak region compared to 4,757 during the same period last year.
That represents a 1.3% increase in closed sales.
Buyers are still purchasing homes. Demand has not disappeared.
Inventory Is Growing
The biggest change we're seeing is inventory.
More homes are coming to market, which means buyers have more choices than they've had in several years.
When buyers have more options, they become more selective. Homes that are priced correctly and show well continue to attract attention, while overpriced homes often sit longer and require price adjustments.
Home Prices Have Stabilized
The average sales price through May 2026 is $551,886 compared to $560,340 during the same period in 2025.
That represents a modest 1.5% decline year over year.
The Federal Housing Finance Agency's Home Price Index shows Colorado Springs appreciation has essentially flattened after several years of extraordinary growth. Rather than a market decline, we're seeing a normalization following the rapid appreciation experienced during 2020 and 2021.
What Buyers and Sellers Are Experiencing Right Now
One of the clearest indicators of today's market is seller concessions.
In my own 2026 transactions:
- 15 homes closed
- $6.68 million in funded volume
- $213,000 in total seller concessions
- $16,000 average seller concession per transaction
These concessions are helping buyers reduce upfront costs, cover closing expenses, and lower monthly payments through interest rate buydowns.
This is a significant shift from the highly competitive seller's market of just a few years ago.
What This Means for Sellers
Today's market rewards preparation and pricing strategy.
The days of simply putting a sign in the yard and expecting multiple offers above asking price are largely behind us.
Sellers who focus on:
- Competitive pricing
- Property condition
- Professional marketing
- Strategic negotiation
are still achieving excellent results.
What This Means for Buyers
Buyers are benefiting from:
- More available inventory
- More negotiating opportunities
- Increased seller concessions
- Less competition than previous years
For many buyers, today's market offers more flexibility than we've seen in quite some time.
My Take
The Colorado Springs housing market is not crashing.
It is normalizing.
Sales remain healthy, inventory is growing, appreciation has flattened, and buyers have regained negotiating power. The result is a more balanced market that creates opportunities for both buyers and sellers when they approach the market with the right strategy.
If you're considering buying or selling in Colorado Springs, Monument, Black Forest, Briargate, Flying Horse, Falcon, Peyton, or anywhere in El Paso County, I'd be happy to discuss what these trends mean for your specific situation.
