Realtor.com released its Q3 2026 Market Clock report on October 19, and two Colorado cities stood out. Colorado Springs is now officially a buyer’s market. Denver is right on the edge of becoming one. If you have been priced out of the Denver metro, or you are starting to wonder whether a move down I-25 makes sense, here is what the data says.
Is Colorado Springs a buyer’s market right now?
Yes. Realtor.com’s Market Clock places each of the nation’s largest metros on a 12-hour clock face, from a peak seller’s market at 12 o’clock to a peak buyer’s market at 6 o’clock. In the third quarter, Colorado Springs moved into buyer’s market territory.
It is one of only three buyer’s markets in the entire West. The other two are Bakersfield and Riverside, California. As recently as June, the West had none.
The local numbers back that up:
- Inventory: Colorado Springs hit 5.7 months of inventory in September, the highest in many years, according to a local agent quoted in the report. The Colorado Association of REALTORS® reported 4,253 active listings in the Pikes Peak region, up 6.1% from last year.
- Price reductions: 46.4% of active El Paso County listings have had a price reduction.
- Days on market: Homes are averaging 53 days.
- Concessions: Buyers here frequently negotiate five-figure seller concessions, and many put that money toward a rate buydown.
The report also says local sellers are now expected to paint and make repairs before listing, and to be ready for more requests once under contract. Showings are down, and some sellers are choosing to rent their homes or stay put, especially if they bought in the last five years and haven’t built much equity yet.
The official label may be new, but it isn’t news to anyone who has bought or sold here recently. Although Colorado Springs just moved into buyer’s market territory, and Denver is close behind, it has definitely felt like a buyer’s market on the ground since May of 2025. Longer days on market, more price reductions and bigger concession requests have been part of nearly every transaction I’ve worked on since then.
What is happening in the Denver housing market?
Denver sits at 4 o’clock on the Market Clock, a late balanced market. Realtor.com’s senior economist named it as one of eight metros on the brink of tipping into an outright buyer’s market.
In September, Denver’s inventory rose nearly 4%, months of supply reached 4.76, and the median sale price fell 3.2%. Even so, an agent quoted in the report said Denver may look buyer-friendly “on paper” while affordability is still a steep barrier for many buyers. At the same time, Denver’s $1 million-plus market is gaining ground, with sales nearing 2022 peaks.
How much cheaper is Colorado Springs than Denver?
According to the Colorado Association of REALTORS®, the September 2026 median single-family price was:
- Metro Denver: $610,000
- Pikes Peak region (Colorado Springs): $479,000
That is a difference of $131,000.
Here is a simple illustration. With 10% down and a 7.4% rate (the recent high cited in the report), principal and interest would be roughly $3,800 a month on the Denver median and roughly $2,985 a month on the Colorado Springs median. That is about $816 a month, or nearly $9,800 a year, before taxes, insurance and HOA dues.
These figures are for illustration only. I’m a REALTOR®, not a lender, so I always recommend talking with your lender about the loan options available to you and what fits your financial goals.
Why do higher mortgage rates matter so much right now?
The report calls it the “7% mortgage rate paradox.” Buyers have more negotiating power, but higher rates are eating into what they can afford. Rates rose from 6.66% in late August to 7.40% on October 8. For a buyer with a $2,000 monthly principal-and-interest budget, that jump wiped out about $22,000 in purchasing power.
That is where Colorado Springs comes in. A lower price point and room to negotiate on concessions can help offset part of what higher rates take away.
Is the commute from Colorado Springs to Denver worth it?
For some families, it can be. The drive up I-25 depends on where you live and work, and north Colorado Springs to the south Denver metro is much shorter than downtown to downtown. With hybrid and remote schedules, many people only make the drive a few days a week.
The savings are only part of the picture. Families also tell me they love:
- Trails, open space and Pikes Peak views close to home
- A slower pace and a strong sense of community
- A large military and veteran community, with five installations nearby
- More home and yard for the money
Commuting isn’t for everyone, and it is worth test-driving the route at rush hour before you decide. For many buyers, though, the savings and lifestyle are worth a serious look.
Do seller concessions vary across Colorado Springs?
Yes, quite a bit. Average concessions depend on the area, price range, and whether the home is new construction or resale. I can share the average concessions by area of the city, so you know what is realistic before you write an offer.
What if you want to move but don’t want to sell right now?
The report notes that some Colorado Springs sellers are choosing to rent their homes instead of selling. That is something I have helped many homeowners think through.
Since 2022, I have personally helped 26 would-be sellers turn their homes into investment properties. If you have considered keeping your home as a rental, I would love to show you how it works and what your numbers could look like today and 10 years from now.
Frequently Asked Questions
Is Colorado Springs a buyer’s market in 2026?
Yes. Realtor.com’s Q3 2026 Market Clock lists Colorado Springs as one of three buyer’s markets in the West. On the ground, it has felt like a buyer’s market since May of 2025.
What is the median home price in Colorado Springs?
The Pikes Peak region’s September 2026 median single-family price was $479,000, according to the Colorado Association of REALTORS®.
Is Colorado Springs cheaper than Denver?
Yes. The September 2026 median single-family price was $610,000 in metro Denver and $479,000 in the Pikes Peak region, a difference of $131,000.
Are sellers in Colorado Springs offering concessions?
Often, yes. Five-figure seller concessions are common right now, and many buyers use them toward rate buydowns. Averages vary by area.
Can I keep my Colorado Springs home as a rental instead of selling?
Many homeowners do. Whether it makes sense depends on your equity, rent potential, expenses and long-term goals, so it is worth running the numbers first.
