I have seen a big shift in our market. In my career, I have never seen a better market for buyers to negotiate. The national data backs that up: Redfin called August 2026 the strongest buyer's market in its records, which go back to 2013.
For years, I said I was thankful we bought when we did, and I was not a buyer in our market. That is not how I feel today. I am seeing opportunities here that I have not seen before.
On September 18, Inman reported that 44.7% of U.S. home sales in August included a seller concession. That's the highest share for the month since at least 2020. The Federal Reserve also raised its benchmark rate a quarter point to a range of 3.75% to 4%, and mortgage rates are now moving toward 7%.
Here is what every closed sale in El Paso County shows when you compare August 2026 with August 2025.
El Paso County August Closed Sales: 2025 vs. 2026
Closed Sales | Aug 2025 | Aug 2026 | Change |
|---|---|---|---|
Homes closed | 916 | 826 | Down 9.8% |
Median sold price | $455,000 | $454,500 | Flat |
Total dollar volume | $490.0M | $441.4M | Down 9.9% |
Median days on market | 29 | 28 | Flat |
Sales that sat 90+ days | 11.8% | 15.7% | Up 3.9 pts |
Sold below final asking price | 51.4% | 45.6% | Down 5.8 pts |
Sales with seller concessions | 60.5% | 64.5% | Up 4.0 pts |
Median concession (when paid) | $9,664 | $10,000 | Up 3.5% |
Is El Paso County a buyer's market right now?
Buyers have more negotiating power than I have seen in our market, but prices have not dropped. The median sold price barely moved, and the typical home still sold in 28 days. Buyers are getting their leverage through concessions, price reductions before the sale, and time, not through a lower median price.
How common are seller concessions in Colorado Springs compared to the rest of the country?
About two out of three August sales in El Paso County (64.5%) included a seller concession. Nationally, Redfin reported 44.7%. The metros with the highest concession rates in Redfin's report were Atlanta (72.8%), Charlotte (67.9%), and Phoenix (67.4%). El Paso County sits much closer to those markets than to the national average.
One caution: Redfin's figure comes from transactions handled by its own buyer's agents. The El Paso County numbers cover every closed sale in the county. Both point the same way, but the comparison is directional, not exact.
Does the seller have room to negotiate?
Right now, this is the most important question in any negotiation. Buyers are asking for concessions, repairs, and price reductions. Whether a seller can say yes depends on their equity.
Sellers who bought well, and likely those who bought before 2017, have the equity to offer the concessions buyers are asking for. Sellers who bought more recently may not. Many homes on the market today will not sell because the seller doesn't have the money to close. To sell, they would have to bring a check to the closing table, and many just don't have it.
For buyers, this changes how you choose which homes to pursue. Two homes at the same price can have very different sellers behind them. One can negotiate and the other can't.
Why did fewer homes sell below asking price if the market is softer?
This is easy to misread. The share of homes that sold below their final asking price fell from 51.4% to 45.6%, which looks like good news for sellers. It isn't. It went down because 46.7% of the homes that sold had already cut their price before going under contract. The discounting happened earlier in the process, but it still happened.
Nationally, Redfin found that 15.8% of August sales included both a concession and a price cut. That's the highest August share on record. A lot of sellers are now doing both.
What does the 90-day number tell us?
Sales that took 90 days or more rose from 11.8% to 15.7%. With median days on market flat at 28, the market is splitting in two. Homes that are priced and prepared well still sell in about a month. Homes that miss the market sit, and usually end up with a price reduction and a concession.
What this means for sellers
- Know your numbers before you list. Look at a net sheet that includes a realistic concession before you pick a list price, so you know exactly how much room you have to negotiate.
- Your launch price matters more than your reduction plan. The first two to three weeks bring your strongest showing activity. Price reductions later on rarely get that energy back.
- Plan on a concession. When nearly two-thirds of sales include one and the median is $10,000, a concession is a normal part of the deal.
- A concession can protect your price. Money toward a buyer's rate buydown or closing costs often gets a deal done at a stronger sale price than a reduction of the same size would.
What this means for buyers
- This is a window, not a guarantee. Buyers have more leverage than I have seen in our market, but that leverage only helps when the seller has room to negotiate.
- Look at the monthly payment, not just the price. With rates near 7%, a seller-paid concession used toward a rate buydown can lower your payment more than a small price reduction. How much depends on your loan amount and on lender pricing, so ask your lender to run both scenarios.
- Look closely at homes that have been on the market 30+ days. Those sellers are the most likely to negotiate on concessions, repairs, or terms.
- Well-priced homes still move fast. A 28-day median means the best homes aren't waiting around.
Frequently Asked Questions
Is it a good time to buy a home in Colorado Springs?
For negotiating power, it's the strongest market I have seen here. Nationally, Redfin called August 2026 the strongest buyer's market in its records, which go back to 2013. Locally, 64.5% of August sales included seller concessions.
What was the median home price in El Paso County in August 2026?
The median sold price was $454,500, essentially flat from $455,000 in August 2025.
How many homes sold in El Paso County in August 2026?
826 homes closed, down 9.8% from 916 in August 2025.
What is the typical seller concession in Colorado Springs?
In August 2026, the median concession (when one was paid) was $10,000, and 64.5% of sales included one.
Why won't some sellers agree to concessions?
Some sellers don't have enough equity. If paying a concession or accepting a lower price would mean bringing money to closing, many sellers can't make the deal work.
Are home prices dropping in Colorado Springs?
Not at the median. Prices are holding, but more sellers are cutting their list price before the sale and paying concessions to close.
How long does it take to sell a home in El Paso County?
The median days on market in August 2026 was 28. However, 15.7% of sales took 90 days or longer.
Thank you to Ben Gosz with Chicago Title of Colorado for sharing the August market data. National figures are from Redfin's August 2026 concessions analysis, as reported by Inman on September 18, 2026.
