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 month were 3,220, compared to 3,059 (up 5%)
- Total new listings for the month were 1,395, compared to 1,304 (up 7%)
- Sales for the month were 914 units, compared to 901 (up 1%)
- Average sales price for the month was $580,835 down from $580,074 (flat)
- Average median sales price for the month was $500,000 same as last year
- Average days on market for sold homes was 44 for the month, up from 40 days
- Single family permits YTD were 1,944 compared to 1,815 (up 7%)
Market Summary
The Colorado Springs housing market remained relatively steady in July despite a significant increase in mortgage rates. Rates jumped more than a quarter point during the month, reaching nearly 6.7%, yet closed sales and home prices held up surprisingly well.
The number of homes on the market increased 5% from last year to 3,220, while new listings climbed 7% to 1,395. Sales also remained steady, with 914 homes closing in July, slightly ahead of last July. Average and median sales prices were essentially flat at $580,835 and $500,000.
However, there are some signs that higher mortgage rates are beginning to impact future activity. Homes going under contract fell more than 10% to 993 in July. Since pending sales are one of the better indicators of where the market is headed, this decline could translate into fewer closed sales in the coming months if mortgage rates remain elevated.
New construction continues to add inventory, with single-family building permits up 7% to 1,944 for the year. We expect permitting activity to slow during the remainder of 2026 as builders adjust to new state-mandated energy code requirements.
Overall, July was a stable month for the Colorado Springs market, but the decline in pending sales is worth watching closely. Buyers have more choices, while sellers continue to benefit from stable prices. The direction of mortgage rates will likely be the biggest factor influencing the market during the second half of the year.