July 2026 Real Estate Market Update
Colorado Springs Real Estate Quick Facts
- Mortgage rates steadily increased from 6.44% to almost 6.7% during July
- Average active listings for the quarter were 2,853, compared to 2,654 (up 7%)
- Total new listings for the month were 4,507, compared to 4,608 (down 2%)
- Sales for the month were 3,013 units, compared to 2,840 (up 6%)
- Average sales price for the month was $577,230 down from $582,756 (down 1%)
- Average median sales price for the month was $495,000 down from $505,000 (down 2%)
- Average days on market for sold homes was 52 for the quarter, up from 44 days
- Single family permits YTD were 1,804 compared to 1,544 (up 17%)
Market Summary
The Colorado Springs housing market remained active in July, despite mortgage rates increasing by about a quarter point. Active listings were up 7% from last year, giving buyers more choices, while closed sales actually increased 6%—an encouraging sign that demand remains strong.
Home prices softened modestly, with the median sales price declining 2% to $495,000 and the average sales price down 1% to $577,230. However, the biggest concern may be what’s happening with pending sales. Homes going under contract were down 10% in July, likely reflecting the impact of higher mortgage rates. Since pending sales are a good indicator of where the market is headed, this could signal slower sales activity in the coming months.
Overall, the market remains relatively healthy, but higher mortgage rates are beginning to have an impact. Buyers continue to be active, while sellers are facing a little more competition and should price their homes strategically.