Every year there is a moment when the market changes tone. The phone rings less. Showing requests slow. Fewer buyers ask about new listings. In 2025, I felt that moment in May. In 2026, I felt it in June.
I wanted to know whether the numbers matched what I was feeling, so I looked at median sold prices for resale homes across El Paso County from January 2025 through September 2026. I also looked at my own buyer transactions from this year. Together, the data tells a clear story: our market is declining, but slowly and steadily, not sharply.
What happened to El Paso County home prices from 2025 to 2026?
Prices have moved within a fairly narrow range, roughly $430,000 to $483,000, for almost two years. But the direction within that range has shifted downward.
Here is how the months compare side by side:
- May: $476,000 in 2025, $478,000 in 2026
- June: $483,000 in 2025, $470,000 in 2026
- July: $475,000 in 2025, $465,000 in 2026
- September: $450,000 in 2025, $450,000 in 2026 (preliminary)
June 2026 came in about 2.7% below June 2025, and July was about 2.1% lower. September landed at the same $450,000 median both years. September 2026 is still preliminary while the final assessor records come in, so that number may shift slightly.
This is not a crash. It is a gradual decline. Prices are easing a little at a time rather than dropping all at once, and as you will see below, much of the adjustment is happening through concessions rather than in the sale price itself.
When does the Colorado Springs market slow down each year?
The seasonal pattern is one of the most useful parts of this data. In both years, prices peaked in late spring and softened through fall.
In 2025, the median peaked at $483,000 in June, then fell to $430,000 by December. That is roughly 11% from peak to low within the same year. In 2026, the median peaked at $478,000 in May and has eased back to $450,000.
Notice that the 2026 peak was both lower and earlier than the 2025 peak. That is one of the clearest signs of a slowly declining market. The high point is not as high, and it arrives sooner.
Keep in mind that sold prices reflect contracts written 30 to 45 days earlier. A June closing usually represents a deal negotiated in April or May. So when I feel the market change in real time, the sold data catches up about a month or two later.
Are fewer homes selling in El Paso County?
This is where the shift shows up most clearly. Look at the number of resale closings each month:
- May and June 2026: 933 and 976 sales, up from 841 and 859 in 2025
- August 2026: 684 sales, down from 760 in 2025
- September 2026: 602 sales so far, compared to 747 in 2025 (preliminary)
Spring 2026 was actually busier than spring 2025, with about 12% more closings in May and June combined. Then activity dropped off faster. August closings were about 10% lower than the year before, which lines up with the slowdown I felt in June, once you account for the time it takes a contract to close.
In other words, buyers showed up strong early in 2026 and then stepped back more sharply. Prices softened modestly, and momentum faded.
Are sellers still paying concessions in El Paso County?
Yes, and this is the part of the market the median price does not show.
The county data tells us what homes sold for. It does not tell us how much sellers contributed toward buyers’ closing costs, rate buydowns, or repairs. To fill in that picture, I looked at my own buyer transactions for 2026.
So far this year, I have helped 22 buyers purchase homes across El Paso County, at a wide range of price points and in many different neighborhoods. Twenty of those 22 buyers received seller concessions.
Here is what my financed closings look like:
- 19 loans closed, totaling $8.34 million in funded volume
- Average loan size: about $439,000
- Total seller concessions: about $284,000
- Average concession: about $17,000 per buyer who received one
That average concession is roughly 4% of the average loan amount. I have another closing this week with $9,600 in seller concessions.
The two buyers who did not receive concessions had specific reasons. One was competing against multiple offers, so asking for money back would have weakened the offer. The other was buying an investment property and bringing a significant amount of cash to closing, so it made more sense to negotiate a lower purchase price instead of using concessions for a rate buydown. That offer came in well below list price.
Why do concessions matter in a slowly declining market?
When concessions are this common, the sticker price and the real price are two different numbers. A home can sell at or near asking price while the seller covers $10,000 to $20,000 of the buyer’s costs.
That is a big part of why this decline feels gradual on paper. The median sale price has eased only a few percent, but once you subtract concessions, the true net to sellers has dropped more than the headline numbers show. The market is adjusting quietly, through the negotiation rather than the list price.
What does this mean for sellers?
Price for the market you are in, not the one you remember. A home that would have commanded a peak price in spring 2025 is competing in a softer environment today. The county median sits about $28,000 to $33,000 below this spring’s peak, and that reflects both normal seasonal movement and a slow year-over-year decline.
Plan for concessions from the start. In the current market, I treat concessions as an expected part of the negotiation, not a surprise. Pricing well and budgeting for concessions up front protects your bottom line far better than reacting to a buyer’s request later.
Days on market matter more now. With fewer buyers actively searching, the first two to three weeks of a listing carry more weight. Buyers notice a home that sits, and they start to wonder why. In a declining market, chasing the market down with reductions usually costs more than pricing accurately from day one.
Preparation is protection. Buyers have time to compare. Homes that are clean, repaired, and priced with the data in mind are the ones that still sell well.
Consider your timing. If you have flexibility, the data shows spring brings the highest prices and the most buyers. But in a gradually declining market, waiting a full year is not guaranteed to bring a higher price. If you need to sell this fall, strategic pricing and smart concessions can still produce a strong result.
What does this mean for buyers?
Fall and winter are your leverage window. Last year, the median bottomed out in December. Fewer competing buyers usually means more room to negotiate on price, repairs, or closing costs.
The list price is only the beginning of the conversation. With 20 of my 22 buyers receiving concessions this year, there is often more room to negotiate than the asking price suggests.
Concessions can work harder than a price cut. A seller-paid rate buydown can lower your monthly payment in a way a small price reduction often cannot. I always encourage buyers to start with the monthly payment they are comfortable with and build the offer from there. The right strategy depends on your goals. A buyer who plans to stay long term may benefit most from a lower rate, while an investor bringing more cash to closing may get more value from a lower purchase price.
Prices are easing, not collapsing. Waiting for a dramatic drop may not pay off. The decline has been slow and measured, and the negotiating power available to buyers right now through concessions may be worth more than a few months of additional price softening.
Frequently Asked Questions
Are home prices dropping in Colorado Springs?
Yes, but gradually. El Paso County median resale prices in mid-2026 are about 2% to 3% below the same months in 2025, and seller concessions are absorbing even more of the adjustment. This is a slow decline, not a sharp one.
Is the Colorado Springs housing market crashing?
No. The data shows a steady, modest decline rather than a sudden drop. The 2026 spring peak was slightly lower and earlier than in 2025, and fewer homes sold in late summer, but prices have not fallen sharply.
What is the median home price in El Paso County right now?
The September 2026 median resale price is about $450,000, based on preliminary county assessor data.
Are sellers paying closing costs for buyers in Colorado Springs?
In my experience, very often. Twenty of the 22 buyers I have helped in 2026 received seller concessions, averaging about $17,000 among those who received them.
Is it better to ask for a lower price or seller concessions?
It depends on your plans and how much cash you are bringing to closing. Concessions used for a rate buydown can lower your monthly payment, while a lower purchase price may make more sense for investors or buyers making a larger down payment.
What is the best time of year to sell a home in El Paso County?
Based on 2025 and 2026 data, prices and sales volume both peak in May and June.
What is the best time of year to buy a home in El Paso County?
Late fall and winter typically bring less competition and more negotiating room. In 2025, the median price reached its low point in December.
Why did the market feel slower in summer 2026?
Spring 2026 was busier than spring 2025, but activity dropped off more sharply afterward. August closings were about 10% lower than the prior year, reflecting fewer contracts written in June and July.
Where does this data come from?
County figures are median sold prices for resale homes from El Paso County assessor records, with new construction excluded. Concession and loan figures come from my own 2026 buyer transactions.
