August 2026 Real Estate Market Update
Colorado Springs Real Estate Quick Facts
- Mortgage rates were elevated but steady at around 6.7% for the month
- Average active listings for the month were 3,234, compared to 2,979 (up 8%)
- Total new listings for the month were 1,130, compared to 1,151 (down 2%)
- Sales for the month were 726 units, compared to 824 (down 12%)
- Average sales price for the month was $567,160 down from $567,864 (flat)
- Average median sales price for the month was $478,450 down from $483,050 (down 1%)
- Average days on market for sold homes was 55 for the month, up from 46 days
- Single family permits YTD were 2,084 compared to 1,989 (up 4%)
Market Summary
The Colorado Springs housing market showed some real signs of slowing in August as mortgage rates remained stubbornly high, although relatively flat. Active listings increased 8.5% from last year, while sales for the month fell nearly 12%. Inventory jumped 23%, reaching almost six months—the highest level we’ve seen in quite some time and a clear indication that buyers are gaining more leverage in the market.
Despite the decline in last month’s sales, year-to-date sales remain slightly ahead of last year. Home prices continue to be resilient, with the average sales price essentially flat at $567,000, while the median price declined less than1% to $478,450.
Another indicator worth watching is pending sales. Under contracts fell 11% in August, marking the second consecutive month of double-digit declines. This suggests the slower sales activity we saw in August could continue into the fall, particularly if mortgage rates remain elevated.
Overall, the market is shifting toward a buyer’s market. Buyers have more choices and negotiating power, while sellers are facing increased competition and longer marketing times. The direction of mortgage rates will remain the key factor heading into the fall market.