February 2025 Real Estate Market Update
Colorado Springs Real Estate Quick Facts
- 30-year mortgage rates came down from 6.94%, to 6.76%
- 1,735 listings are on the market-this is up 39% from the same month last year (SMLY)
- New listings for the month were 923 -which is up just 1% from SMLY
- There were 619 sales for the month-which is down 11%% from SMLY
- The list price/sales price ratio was 98.3%
- Average sales price for the month was $552,840—up 7.2% from SMLY
- Median sales price for the month was $479,000—up 4.1% from SMLY
- Median days on market for sold homes was 58 compared to 53 for the SMLY
- Single family permits YTD are at 391 which is down from the 493 units from the SMLY
Market Summary
February brought some interesting shifts to the Colorado Springs housing market! Active listings saw a 39% increase, giving buyers more options, while new listings remained flat compared to the previous month.
On the sales side, closings were down 11%, signaling a bit of a slowdown but we believe the poor winter weather caused some of this. Home prices continued to rise, with the average sales price up 7% and the median price increasing 4%. This suggests that demand is still strong, especially for well-priced homes.
Another positive note for buyers: mortgage rates dipped by 0.2%, offering a bit of financial relief. While affordability remains a challenge, this small drop could help more buyers move forward with their home purchase plans.
As we head into spring, it will be interesting to see if inventory continues to build and how buyers and sellers respond to these market conditions.February 2025 Stats February 2025 Stats
